According to a Sandmark exclusive report, Solana ecosystem meme coin issuance platform Pump.fun laid off some employees in early April this year, about two months before the unlocking of its first batch of PUMP tokens. At least one former employee therefore failed to receive a token allocation worth more than $1 million based on the current price. In an internal meeting, Pump.fun co-founder Noah Tweedale said the company had “expanded too quickly” previously. The former employee also said that the platform laid off additional staff again in mid-July, with more than 40 people fired within two months in total, but the number has not yet been independently verified. Pump.fun’s co-founder did not respond to a request for comment.