This webpage was generated algorithmically, to view the article in its initial setting, please visit the link below:
https://cryptobriefing.com/burwick-law-pumpdotfun-lawsuit/
and if you wish to have this article removed from our website, kindly get in touch with us
Main Points
- Burwick Law is taking legal measures against Pump.fun on behalf of investors due to losses incurred from meme coin trading.
- Pump.fun has greatly influenced Solana’s DeFi sector, representing over 70% of new tokens on certain days.
Disseminate this article
Burwick Law has commenced legal action against Pump.fun on behalf of investors who incurred losses from the platform’s meme cryptocurrency trading practices.
**LEGAL ACTION NOTICE: PUMPDOTFUN**
Burwick Law is taking legal measures for investors in pumpdotfun memecoins. If you experienced financial loss on any pumpdotfun memecoins, you may be eligible for compensation.
Discover more details below.
— Burwick Law (@BurwickLaw) January 15, 2025
The firm emphasizes worries regarding the platform’s anonymity along with its exhibition of questionable content.
This move follows Pump.fun’s reported weekly volume of $2.2 billion, as stated by on-chain analyst Adam Tehc’s Dune dashboard.
A recent analysis based on Dune Analytics data tracking Pump.fun revealed that from 14 million wallet addresses on the platform, only 57,144 users have achieved profits exceeding $10,000, while a mere 298 wallets—approximately 0.00217%—have surpassed $1 million in earnings.
However, on-chain analyst Adam Tehc contends that the figures do not truly represent the number of crypto traders who are actually profit-making on the platform.
“If you’ve realized $10,000 trading Pump.fun’s tokens, you’re in the top 0.412% of wallets,” on-chain analyst Adam Tehc noted in a Jan. 10 X post. Realized profits are solely calculated after traders have sold their assets.
Alon, the platform’s anonymous co-founder, disputed the accuracy of the Dune data, claiming it omits purchases made post-tokens being bonded to Raydium, the decentralized exchange for Pump.fun tokens.
He pointed out that 30% of Pump.fun wallets have executed merely one transaction, attributing this to bot or AI activity.
According to Lookonchain, the platform has garnered 2,016,391 SOL tokens, equivalent…
“`to roughly $398 million in earnings by January 2, 2025.
The lawsuit coincides with Solana’s DeFi engagement nearing its peak of $9.5 billion in TVL, with present statistics at $9 billion.
Pump.fun has been the leader in token generation on Solana, contributing more than 70% of new tokens on select days.
After the announcement of legal actions, a meme token inspired by Burwick Law appeared, achieving a market cap of $700,000.
Distribute this article
This page was generated automatically; to read the article at its original site, you can visit the link below:
https://cryptobriefing.com/burwick-law-pumpdotfun-lawsuit/
and if you would like to request the removal of this article from our website, please reach out to us
“`
