DeFi News Official Today TheBitTimes.com

Pump Fun lawsuit judge Colleen McMahon says she “doesn’t understand” why legal firms Burwick Law and Wolf Popper have jointly filed two similar lawsuits against the memecoin platform. In an order submitted by Judge McMahon yesterday, she requested that Burwick Law explain by Friday why there are two filed lawsuits and why they can’t be combined.  She highlights how both lawsuits feature the same defendants, were filed by the same law firm (two weeks apart), and involve the same allegations against Pump Fun — that it sold unregistered securities in the form of memecoins .  McMahon said, “While the Aguilar complaint, which was the second filed action, is more detailed than the Carnahan complaint, it looks at first blush like both lawsuits are seeking the same relief for the same alleged violation of the 1933 Securities Act.”  Pump Fun taps high-profile lawyers to battle Burwick lawsuit Read more: Burwick Law founder likely behind Pump Fun memec...

Memecoin platform Pump Fun has made further additions to its legal team as it gears up to fight a lawsuit brought by legal firm Burwick Law.  Legal filings from last Thursday and back in May revealed that Brown Rudnick’s Daniel L. Sachs and Kyle P. Dorso have been named as counsel. They join Stephen D Palley, chair of Brown Rudnick’s Digital Commerce Group, in representing Baton Corporation, Pump Fun’s parent company. Pump Fun co-founder Dylan Kerler linked to 2017 ICO scams, report Read more: Burwick Law founder likely behind Pump Fun memecoin, report According to Brown Rudnick, Sachs is a specialist in “white collar” defense and has worked as counsel for the Securities and Exchange Commission, where he led securities fraud investigations .   Sachs has also helped defend Shaquille O’Neal in an NFT securities class action lawsuit and represented Mark Cuban and the Dallas Mavericks in a lawsuit related to their promotion of Voyager Digital.  ...

Solana-based decentralized exchange (DEX) Raydium plans to roll out its own meme coin launchpad to compete directly with Pump.fun.  The move by Raydium comes around a month after it was found that Pump.fun was working on its own automated market maker to potentially replace Raydium. Raydium Launchpad Pad Will Reportedly Be A Fork Of Pump.Fun Raydium’s planned meme coin launchpad will reportedly be called “LaunchLab” and will essentially be a fork of Pump.fun with a few differences.  The new platform will feature a logarithmic bonding curve similar to Pump.fun. However, it will also allow third party user interfaces to set their own fees and have direct access to Raydium’s liquidity pools.  my thoughts on raydium launching its own version of pump fun: LaunchLab isn’t just a pump fun clone—it offers more Features : – multiple quote tokens (not just SOL) – bonding curves – integration with Raydium’s liquid...

In recent months, a total of $3.5 million worth of SOL has been raised by Pump Fun-based memecoins after being promoted via hacked X and Instagram accounts. Scammers targeted accounts belonging to businesses and celebrities such as McDonald’s, Usher, and Wiz Khalifa. They used their wide reach to tease a token’s ticker or contract address, or simply link to a token’s Pump Fun page. Blockchain investigator ZachXBT has traced the initial funding of each of the 16 tokens on the Solana-based launchpad, connecting each incident to funds raised from the preceding scams. 1/ Over the past few months I have been tracking a series of related compromises for McDonald’s, Usher, Kabosu Owner, Andy Ayrey, Wiz Khalifa, SPX 6900, etc on X & IG which has resulted in an estimated $3.5M+ stolen via launching Pump Fun meme coins. pic.twitter.com/ViZeHzQy5b — ZachXBT (@zachxbt) November 26, 2024 Read more: ‘Thanks for the 20 bandos!’ Teen behind QUANT rug pull misses out o...

A young Pump.fun developer has apparently filmed himself performing oral sex on a stripper, shooting heroin, and taking fentanyl in an effort to raise the price of his newly launched coin, Stripper Trev Dev.  Screenshots circulating on X (formerly Twitter) of the explicit stream also purport to show the dev — who goes by the name ‘Trevv online — shaving his own head and passing the stripper a suspicious jar that some users claimed was filled with urine. CT in a nutshell tonight $STD pic.twitter.com/NvDNLT6qpP — Bottle (@Bottlesbullish) August 20, 2024 Read more: Research finds less than 0.002% of Pump.fun memecoins succeed However, there are already doubts about the legitimacy of the stream. Some X users suggested that Trevv’s Instagram account shows that the ‘stripper’ in the stream is in fact his girlfriend and it’s also believed that the supposed ‘heroin’ in the video was in fact hash, a form of cannabis.  Following Trevv...