Pump.fun offers $5 million salary for chief legal officer

The Solana-based meme coin launchpad Pump.fun is offering a salary of up to $5 million to hire a Chief Legal Officer, a move that underscores the platform's urgent need to navigate a complex web of litigation and regulatory scrutiny. The job listing, posted by co-founder Alon Cohen on June 24, offers a base salary range of $1 million to $5 million, placing the role among the highest-paid legal positions in the cryptocurrency industry.

The aggressive recruitment drive comes as the platform's parent company, UK-registered Baton Corporation, contends with significant legal challenges. The most prominent is a consolidated class-action lawsuit in the Southern District of New York, Aguilar v. Baton Corporation Ltd., which alleges that tokens launched on Pump.fun are unregistered securities. The lawsuit also includes claims under the Racketeer Influenced and Corrupt Organizations Act (RICO), characterizing the platform as an illegal enterprise. Plaintiffs are seeking substantial damages, with one report citing a potential exposure of approximately $5.5 billion.

Pump.fun's legal exposure extends beyond U.S. courts. The platform was geoblocked in the United Kingdom in late 2024 following...