- Topic1/3
61k Popularity
47k Popularity
94 Popularity
18k Popularity
121 Popularity
- Pin
- #Gate 2025 Semi-Year Community Gala# voting is in progress! 🔥
Gate Square TOP 40 Creator Leaderboard is out
🙌 Vote to support your favorite creators: www.gate.com/activities/community-vote
Earn Votes by completing daily [Square] tasks. 30 delivered Votes = 1 lucky draw chance!
🎁 Win prizes like iPhone 16 Pro Max, Golden Bull Sculpture, Futures Voucher, and hot tokens.
The more you support, the higher your chances!
Vote to support creators now and win big!
https://www.gate.com/announcements/article/45974
- 🎉 Hey Gate Square friends! Non-stop perks and endless excitement—our hottest posting reward events are ongoing now! The more you post, the more you win. Don’t miss your exclusive goodies! 🚀
1️⃣ #ETH Hits 4800# | Market Analysis & Prediction: Boldly share your ETH predictions to showcase your insights! 10 lucky users will split a 0.1 ETH prize!
Details 👉 https://www.gate.com/post/status/12322612
2️⃣ #Creator Campaign Phase 2# |ZKWASM Topic: Share original content about ZKWASM or its trading activity on X or Gate Square to win a share of 4,000 ZKWASM!
Details 👉 https://www.gate.com/post/st - 📢 Gate Square #Creator Campaign Phase 2# is officially live!
Join the ZKWASM event series, share your insights, and win a share of 4,000 $ZKWASM!
As a pioneer in zk-based public chains, ZKWASM is now being prominently promoted on the Gate platform!
Three major campaigns are launching simultaneously: Launchpool subscription, CandyDrop airdrop, and Alpha exclusive trading — don’t miss out!
🎨 Campaign 1: Post on Gate Square and win content rewards
📅 Time: July 25, 22:00 – July 29, 22:00 (UTC+8)
📌 How to participate:
Post original content (at least 100 words) on Gate Square related to
Securities lawsuit filed against meme coin platform in the spotlight with Solana sales! - Coin Bulletin
Pump.fun, a Solana-based meme coin creation platform, has been accused of creating unregistered securities in exchange for a fee of $500 million and is facing a class action lawsuit.
Pump.fun, a meme coin creation platform operating on the Solana blockchain, has become the subject of a class action lawsuit, accused of creating unregistered securities and causing investors to suffer significant losses.
In the case filed in the New York federal court on January 30, it was alleged that the platform created unregistered securities worth nearly $500 million.
Case Details
In the lawsuit filed by Diego Aguilar, it is alleged that Pump.fun is operated by the UK-based Baton Corporation and manipulates investors by creating artificial urgency for "highly volatile" tokens.
In the lawsuit, it is claimed that the platform operates as a 'new evolution of Ponzi and pump-and-dump schemes' and markets unregistered securities by collaborating with influencers.
The case also includes Alon Cohen, Dylan Kerler, and Noah Bernhard Hugo Tweedale identified as executives of Baton Corporation.
Aguilar stated that he purchased a series of meme coins through Pump.fun, but he mentioned in the lawsuit that all tokens on the platform were classified as 'unregistered securities memecoins'.
The lawsuit alleges that Pump.fun violates securities laws by controlling the technical infrastructure, liquidity, pricing, and promotion of the tokens.
The Plaintiff is requesting the cancellation of all token purchases, compensation to affected investors, and coverage of legal expenses.
Platform Defense and Past Claims
Pump.fun and Baton Corporation have not yet made a statement regarding the lawsuit. The defendants' lawyers could not be reached. However, in mid-January, the US law firm Burwick Law announced that it had initiated legal action against Pump.fun.
The company stated that investors experienced losses due to memecoin rug pulls (investor scams) and "unfulfilled promises".
Current Status of Pump.fun
The usage of Pump.fun reached a record level with the launch of meme coins themed after the Trump family last week. The platform broke a record with a weekly trading volume of 3.3 billion dollars. However, this growth did not overshadow the legal problems of the platform.