Baton Corporation, a British company behind Pump.fun, is looking for a chief legal officer. The job opening was posted on June 24. The salary is impressive: from $1 million to $5 million per year.
Pump.fun operates as a platform for launching memecoins on the Solana network. Project co-founder Alon Cohen wrote that the company needs someone who can handle regulatory matters and litigation.
The reason for such a vacancy is clear. Currently, Baton is defending itself against a class action lawsuit in the Southern District Court of New York. Plaintiffs claim that Pump.fun was used to sell unregistered securities. The company is also separately accused under the RICO Act, essentially alleging that Baton could have been operating as a racketeering organization.
Legal Pressure on Pump.fun Is Growing
The job posting itself reveals figures that Baton had rarely made public before. The listing on the Solana job board states that Pump.fun handles more than $300 million in daily trading volume. Over the past year, the platform earned over $500 million in profit, while the team has fewer than 100 employees.
The project’s problems did not start yesterday. In 2024, Pump.fun was closed to users from the United Kingdom following actions by the financial regulator FCA. This is mentioned in a petition on Change.org, where the authors are calling for a pan-European criminal investigation against Baton.
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The same petition cites data from Dune Analytics. According to on-chain analysis, more than 60% of the approximately 4.25 million wallets that traded on Pump.fun ended up in the red. Nearly 1,700 addresses lost more than $100,000 each.
How Pump.fun Is Defending Against Lawsuits
The main class action was filed by Diego Aguilar through the law firm Wolf Popper LLP. Plaintiffs believe that tokens launched through Pump.fun fall under the Securities Act of 1933 and were sold without registration.
There is another case as well. On January 16, 2025, a separate complaint was filed regarding the PNUT token. This is a memecoin on the Solana network, whose market cap, according to plaintiffs, reached $1 billion and then crashed by 89% from its peak.
The interests of Baton are represented by Brown Rudnick LLP. The firm works with the company on an ongoing basis.
The most painful risk is associated with RICO. This law allows for triple damages. The claims are estimated at about $5.5 billion. Plaintiffs have also asked the court to appoint an external manager who could take control of Baton‘s operations.
If the court sides with the plaintiffs, for Baton this could mean not just a fine, but a blow to the entire business model.
Why the Lawyer Is Being Offered Up to $5 Million
A salary of up to $5 million per year immediately puts the vacancy at the top level of the crypto market. Such money is usually offered when legal risks can no longer be managed with standard consulting.
Candidates are required to have at least 10 years of experience, admission to the New York bar, and real experience working with regulatory investigations. Experience with cases involving enforcement actions by supervisory authorities is also needed.
The new CLO will report to the general counsel. They will have to deal with digital asset regulation in the U.S., including SEC, CFTC, FinCEN and OFAC, requirements of the UK FCA, MiCA rules in the EU and litigation in several jurisdictions at once.
The court date for the Aguilar case has not yet been set. The latest filing in the case materials is dated April 14, 2026.
