Pump.fun Employees Miss Out on Seven-Figure PUMP Tokens Before Layoffs

Pump.fun conducted mass layoffs two months before the unlocking of employee tokens, resulting in at least one former employee missing out on a distribution of PUMP tokens valued in the seven figures at current prices. The layoffs occurred in early April, while the affected employees were supposed to start receiving token unlocks in June. Employees had signed a token agreement in June 2025, with a quarter of the allocation set to unlock a year later. Co-founder Noah Tweedale stated in an internal meeting that the reason for the layoffs was the company's "rapid expansion."

A former employee reported that a second round of layoffs occurred in mid-July, with over 40 employees laid off in the past two months. One employee claimed they were laid off the day before the token unlock, but these claims could not be independently verified.

Pump.fun operates in the UK under the name Baton Corporation Ltd and has blocked UK users since December 2024, remaining on the regulatory warning list. The company experienced an employee embezzlement incident in 2024, transferring approximately $2 million in funds, with the involved party sentenced to six years in prison. According to Companies House data, the company's latest annual report is overdue.

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