U.S. law firm Roche Freedman created a token, “Let’s Go Brandon” ($FJB), with no real purpose other than to build a case against Pump.fun, a Solana-based memecoin platform. The token was designed to highlight how easily Pump.fun could facilitate the creation and launch of tokens without proper oversight. Despite its name and clear lack of utility, the token's market cap briefly surged to over $23 million, before dropping to around $2.4 million.
The lawsuit alleges Pump.fun enabled fraudulent schemes and the trading of unregistered securities, raking in millions in fees. The firm claims the platform operated in a way that violated securities laws and seeks to hold it accountable for its practices.
Despite labeling it with a clear disclaimer, “Don’t buy this coin,” DOGSHIT2 still managed to briefly achieve a market cap of over $23 million before falling to around $2.4 million. This example was presented to highlight the potential misuse of the platform and the risks posed to investors. Show Less
