Are Fartcoin, MooDeng Tokens Securities? Solana-based Memecoin Creator Pump.fun Slapped With Class-Action Lawsuit

Solana (CRYPTO: SOL)-based meme coin launchpad Pump.fun was hit with a class-action lawsuit on Thursday, claiming that all tokens created on the platform are unregistered securities.

What happened: The suit, filed in a New York federal court, named Baton Corporation, a U.K.-registered company, as the owner of Pump.fun. The complaint alleged that the platform earned nearly half a billion dollars in fees by selling “highly volatile unregistered securities.”

The plaintiff further accused Pump.fun of allowing the sale of “worthless” digital tokens in minutes, disregarding basic investor protections, including …

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