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Law firms Burwick Law and Wolf Popper expand the scope of litigation against Pump.fun

By: theblockbeats.news|2025/07/24 01:12:24

BlockBeats News, July 24th, according to TheBlock, law firms Burwick Law and Wolf Popper have expanded the lawsuit against Pump.fun, adding the Solana Foundation, Solana Labs, Jito, and several senior figures in the Solana ecosystem as defendants. In a amended complaint filed on Wednesday, the two law firms brought Racketeer Influenced and Corrupt Organizations Act (RICO) charges, alleging that Pump.fun violated multiple U.S. financial crime prevention regulations, failed to implement anti-money laundering measures, exposed the public to criminal risks, and assisted in creating and promoting illicit tokens, violating trademark law. The lawsuit points out that Pump.fun profited $7.2285 billion from its reliance on an "illegal gambling business," while Jito Labs is accused of intercepting profitable transactions and funneling them to the highest bidder.

The three major U.S. stock indexes closed higher yesterday, while prices of cryptocurrency-related stocks varied.

Bitcoin Breaks $119,000, 24-hour Loss Narrows to 0.58%