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Solana, Pump.fun execs sued. Lawsuit claims 5,000 private messages prove ‘insider-rigged casino’
Yahoo Finance· 2025-12-20 08:00
Critics have long argued that memecoin markets are rigged against retail investors. A team of lawyers says it can prove that theory in federal court. Earlier this year, Michael Okafor and other memecoin investors sued executives at Solana Labs, the Solana Foundation, Jito Labs, the Jito Foundation, and Pump.fun. The lawyers alleged they worked together to create an “insider-rigged casino.” In September, some defendants demanded that Judge Colleen McMahon toss the case. Before she could, however, the pla ...