Pump.fun, the Solana-based memecoin launchpad, has reportedly laid off over 40 employees across two rounds in April and July 2026, weeks before their PUMP token grants were set to vest. An investigative report by Sandmark claims affected workers forfeited token allocations agreed upon in June 2025, with one employee stating the value of lost tokens reached millions of dollars. The platform generates nearly $1 million daily and has accumulated approximately $1.3 billion in lifetime revenue. Despite the controversy, the PUMP token rose 9.34% to $0.002207, with $187 million in daily trading volume.
Pump.fun, the Solana-based memecoin launchpad, dismissed over 40 employees across two rounds of layoffs shortly before their PUMP token grants were scheduled to vest. An investigative report by Sandmark claims the layoffs involved workers who qualified for token allocations agreed upon in June 2025.
The first layoff wave took place in April 2026, while the second occurred in mid-July. Workers laid off in the first wave reportedly lost their tokens that were scheduled to unlock in June 2026. One laid-off worker stated that the value of the forfeited tokens was worth millions of dollars when they were supposed to vest.
Account LayoffAI posted on X: “Pumpfun ($1.3B lifetime revenue) publicly posted a Chief Legal Officer role with a $1–5M base salary. Yet it laid off employees just weeks/months before their PUMP token grants were set to vest. At least one person missed a seven-figure allocation.”
The timing has raised concerns about the growing trend of compensating cryptocurrency company workers with tokens rather than cash. Vesting schedules are designed to ensure worker motivation and commitment, but workers who are let go lose their unvested tokens.
Pump.fun generates approximately $1 million in daily income and has accumulated roughly $1.3 billion in total revenue. The platform has become Solana’s most popular memecoin launchpad, drawing developers and speculators to the ecosystem.
The allegations follow other challenges for Pump.fun, including a 2024 fraud case involving an insider stealing $2 million worth of tokens. The company also reportedly received a regulatory penalty in the United Kingdom for failing to meet accounting filing obligations.
The PUMP token traded at $0.002207, rising 9.34% over 24 hours, with daily trading volume near $187 million and a market capitalization of approximately $875 million. The token remains roughly 77% below its September 2025 peak.
The reported layoffs could influence confidence among current employees, prospective hires, and token holders. No regulatory investigation has been announced, and market participants may watch for an official response from Pump.fun regarding employee compensation policies.
