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Analysis: The US SEC may intervene to investigate the illegal activities of pump.fun's operations.
[Analysis: The SEC may intervene to investigate the potential violations in the operation of pump.fun] The official X account of the Solana ecosystem Meme coin launch platform pump.fun and its founder Alon Cohen, along with several other accounts related to Meme coins, have been suspended. This suspension has led to much speculation in the encryption community about the platform, including concerns that the SEC may intervene to investigate the potential illegal activities in the operation of pump.fun. However, as of now, the main platform of pump.fun is still operational. In January of this year, pump.fun faced a class-action lawsuit accusing it of providing and selling “high Fluctuation” unregistered securities products to investors, resulting in nearly $500 million in fees.