Pump.fun has laid off more than forty employees over the past two months, just weeks before their PUMP token allocations were set to vest. An investigation by Sandmark reveals that the first layoffs occurred in early April, approximately two months before the scheduled unlock in June of the first quarter of the allocations. One former employee claims to have lost an allocation valued at seven figures at the token’s current price. Co-founder Noah Tweedale justified the cuts by citing overly rapid team growth, an explanation that has failed to convince given the troubling coincidence with the vesting schedule. This affair comes as Pump.fun is already facing litigation from the law firm Burwick, which accuses the platform of negligence toward investors who suffered losses.
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