Pump.fun Executes $62M Token Buyback Amidst Class-Action Lawsuit Threat

Crypto launchpad Pump.fun has undertaken a significant buyback program for its native token PUMP, purchasing over $62.6 million worth of tokens to curb selling pressure and stabilize the market amid growing legal concerns. This move comes after data from Dune Analytics reveals daily repurchases funded by platform revenue ranging between $1.3 million to $2.3 million over the past week. The platform has facilitated more than 1.2 million token launches since its debut in January 2023, making it one of the most active launchpads on Solana.