Pump.fun Accused of Running ‘Unlicensed Casino’ in $5.5B Class Action Lawsuit
Solana-based memecoin platform Pump.fun is facing a consolidated class action lawsuit alleging that it operates an illegal “Meme Coin Casino,” which has inflicted estimated losses of between $4 billion and $5.5 billion on retail traders while generating over $722 million in revenue. The lawsuit, filed in the United States District Court for the Southern District…
