Once again, Pump.fun is making waves in the industry, and this time in ways you might not expect.

Pump.fun co-founder Alon recently shut down rumors about a token launch and IPO, saying it’s off the table.

However, certain documents tell a different tale, leading some to speculate that the founder might just be covering his bases.. or preparing his wallets for maximum gains. 

The Devilish Details 

WuBlockchain shed more light on the situation.

They're waving around leaked docs showing plans for a 420 million token drop, with half of that heading straight to CEXs through Dutch auctions. 

And if you're thinking that's just another day in crypto, wait until you hear the rest.

A Classic "Trust Me Bro" Moment

Alon's playing it cool, relying on the classic "don't trust unofficial sources" and "good things take time" lines that we’ve all heard before. 

He’s essentially telling everyone not to give too much credence to the rumors and take him at face value. 

That kind of hand-waving could potentially lead some to misinterpret the situation as "we're building something special" – and we've all seen how that usually plays out.

Wu Calls Cap

WuBlockchain isn’t having any Alon’s hand-waving, though. 

They're calling Alon's denial straight-up deceptive, claiming these token plans are basically crypto's worst-kept secret – after all, if you have the biggest money printer in crypto, what better way to pour fuel on the fire than launch a native token?

The leaked documents paint quite the picture of what's supposedly coming. 

Early degen investors are looking at a tasty 22.05% of the supply, while the team's keeping a quarter of the pie for themselves at 25%. 

Both chunks come with a one-year cliff and monthly unlocks stretching over three years – because nothing says "we believe in our project" like a good old vesting schedule.

Speaking of juicy details from unconfirmed sources, Pump.fun has apparently been forming a serious war chest – we're talking $572M in fees. 

That's enough to make even Sam Bankman-Fried do a double-take.

Ongoing Legal Woes Beg More Questions

Recall that Burwick Law and Wolf Popper LLP recently hit Pump.fun's with a cease-and-desist. 

They’re particularly upset about a token called DOGSHIT2 (yes, that's the actual name) using their names and logos without permission. 

Nothing says "legitimate business" quite like having your project's name share real estate with the word "shit" in all caps.

While the suits were drafting letters, the market was doing what it does best – going absolutely degen.

Uniswap volume on Pump.fun-related tokens shot up 300%, and the price action was even spicier, with tokens pumping from $0.50 to $0.575 in an hour. 

The Bottom Line

We've got leaked docs on one side, founder denials on the other, and a bunch of lawyers somewhere in the middle. 

The whole situation is still opaque, and the reality is somewhere between the token being confirmed and completely denied. 

For now, keep your eyes peeled and your wallet ready, just in case users do indeed get a share of the token supply. 

Because in this market, the difference between catching the next moon shot and catching a rug pull is often just a matter of timing… or using the money printing meme coin launchpad.