Baton Corporation, the development company behind Solana-based memecoin platform Pump.fun, announced Wednesday it is hiring a chief legal officer at a salary between $1 million and $5 million. Co-founder Alon Cohen stated in an X post that the legal executive will work alongside the company's General Counsel on regulatory affairs, product counsel, corporate governance, and cross-border compliance. The hire comes as Pump.fun operates what Baton describes as the dominant memecoin launchpad on Solana, processing more than $300 million in daily volume.
Baton Corporation Defines Chief Legal Officer Responsibilities
According to the job description, the chief legal officer position requires serving as the company's expert on U.S. digital asset regulation. The role covers agencies including the SEC, CFTC, FinCEN, and OFAC, while overseeing the firm's regulatory posture across the U.K., European Union, and Asia-Pacific regions. The position also involves managing investigations, litigation, and law enforcement requests.
Pump.fun Reports $500 Million Profit With 100 Employees
Baton Corporation states that Pump.fun processes more than $300 million in daily volume and made more than $500 million in profit last year with only around 100 employees. Co-founder Alon Cohen wrote that the company has built one of the fastest growing crypto platforms in history, with ambitions to create a global consumer brand that tokenizes early-stage ideas.
Pump.fun GO Marketplace Drew Criticism for Extreme Bounty Tasks
The platform's new bounty marketplace, Pump.fun GO, drew criticism after users posted extreme and provocative tasks in exchange for rewards paid in Solana's native SOL tokens. Reports found that some users were paid to get promotional tattoos on their faces, while one bounty offered nearly $700,000 for someone to film their suicide was later removed.
Platform Suspended Livestream Feature in 2024 After Content Violations
During the memecoin boom in 2024, creators used Pump.fun's livestream feature to promote tokens through acts that included self-harm, violence, and animal abuse. The platform suspended the feature before relaunching it with stricter moderation policies.
Pump.fun Defends Against New York Class Action Lawsuit
The company is currently defending itself against a class action lawsuit in New York by investors who allege Pump.fun and other Solana ecosystem firms operated an unlicensed securities and racketeering enterprise. The case remains pending with parties litigating motions to dismiss.
FAQ
What salary range did Pump.fun offer for its chief legal officer position?
Baton Corporation, the company behind Pump.fun, announced Wednesday it is offering a salary between $1 million and $5 million for the chief legal officer role.
What responsibilities does the Pump.fun chief legal officer role include?
According to the job description, the position serves as the company's expert on U.S. digital asset regulation covering the SEC, CFTC, FinCEN, and OFAC, oversees regulatory posture across the U.K., European Union, and Asia-Pacific regions, and manages investigations, litigation, and law enforcement requests.
What controversies has Pump.fun faced?
Pump.fun's Pump.fun GO marketplace drew criticism after users posted extreme bounty tasks including payments for facial tattoos and a removed $700,000 suicide bounty. In 2024, the platform suspended its livestream feature after creators promoted tokens through self-harm, violence, and animal abuse before relaunching with stricter moderation. The company also faces a pending class action lawsuit in New York alleging operation of an unlicensed securities and racketeering enterprise.
