@sevenlove.base.eth
Judge Colleen McMahon has allowed the plaintiffs to file a second amended complaint (SAC) to include new evidence. This evidence consists of internal chat records provided by a “confidential whistleblower” in September 2025.
The defendants, including Solana Labs and PumpFun, attempted to dismiss the lawsuit through legal procedures, but the court determined that the evidence was substantial enough for the case to proceed. The process may be prolonged, creating significant legal risks for Solana and related projects.
If the defendants lose, damages amounting to billions of dollars could severely impact the operation and development of the entire ecosystem. At the same time, investor confidence in Solana may decline, especially as memecoin and DeFi platforms face increasing regulatory scrutiny.
The lawsuit not only involves issues of unregistered securities but also extends to allegations of fraud and market manipulation, which could reshape how blockchain platforms operate in the future.
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