Analysis: US SEC may intervene to investigate violations in pump.fun operations
Internet reports that the official X account of Solana's ecological Meme coin launch platform pump.fun and its founder Alon Cohen, as well as multiple other accounts related to Meme coin, have been deactivated. This deactivation has triggered many speculations about the platform in the crypto community, including concerns that the U.S. Securities and Exchange Commission may intervene to investigate possible illegal activities in pump.fun's operation, but pump.fun's main platform is still in operation so far. In January this year, pump.fun faced a class-action lawsuit alleging that it provided and sold "highly volatile" unregistered securities products to investors and received nearly US$500 million in fees.
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