Analysis Crypto by Thebittimes.Com

New York-based law firm Burwick said it plans to sue Solana meme coin launchpad Pump.fun on behalf of investors who suffered losses engaging with the platform. It made the announcement in a Jan. 15 X post , and said it comes after “months of working alongside everyday people who have lost significant amounts of money to meme coins, rugs, and unfulfilled promises.” Pump.fun Allegedly Pocketed “Hundreds Of Millions” The law firm said that the Solana meme coin launchpad generated “hundred of millions” through fees while illegal acts such as racism, acts of self-harm, drug use, antisemitism and other antisocial acts took place on the platform . Pump.fun’s creator has “chosen to remain anonymous,” according to Burwick. This is even after the platform acknowledged the “importance of transparency in scaling and retail engagement,” the law firm added. Burwick continued by saying that Pump.fun has created a crypto ecosystem...

Former SEC crypto asset chief David Hirsch has denied reports that he’s set to join memecoin factory Pump.fun as its head of trading and says his next role won’t be with any such platform.  “Hirsch, who was chief of the crypto asset and cyber unit in the SEC ’s enforcement division, announced today that he was leaving the regulator after almost nine years.” Shortly after Hirsch’s decision was announced, Binance News reported via PAmedia that he would be joining Pump.fun as a trading director. Pump.fun claims to offer users a streamlined way of creating any crypto token they want. In its response, Pump.fun committed to the bit, taking the news even further and announcing that Hirsch had indeed joined as its head of trading, that the former regulator realized his work “ was no longer fulfilling ,” and that “he had to start a new chapter.” SEC 'S FORMER HEAD OF CRYPTO ASSET AND CYBER UNIT JOINS https://t.co/gRuVLcGiVK AS HEAD OF TRADING — pump...