According to CoinMeta, Pump.fun is alleged to have carried out two rounds of layoffs before the token unlocking, resulting in at least one former employee losing a distribution of Pump tokens worth up to $1 million at current prices. Co-founder Noah Tweedale stated in an internal meeting that the reason for the layoffs was the company's rapid expansion. A former employee mentioned that a second round of layoffs took place in mid-July, with a total of over 40 employees laid off in the past two months. Pump.fun operates in the UK under the name of Baton Corporation Ltd and is currently on the UK Financial Conduct Authority's warning list, with its most recent annual report also being overdue.