Key Takeaways
Baton Corporation, the company behind Pump.fun, is offering a $1 million to $5 million base salary for a chief legal officer, co-founder Alon Cohen announced on June 23.
Baton is defending a consolidated class action in the Southern District of New York that accuses Pump.fun and Solana-ecosystem firms of running an unregistered securities and racketeering enterprise.
The complaint alleges the platform extracted as much as $5.5 billion from retail traders, putting the legal stakes far above the salary on offer.
The company behind Pump.fun wants a chief legal officer, and it is willing to pay up to $5 million a year for one. Baton Corporation, which develops the memecoin launchpad, posted a $1 million to $5 million base salary for the role, an announcement co-founder Alon Cohen made on X on June 23 and that The Block first reported.
The salary is eye-catching on its own. The context is the reason it matters. Baton is fighting a class action in the Southern District of New York, filed in early 2025, that accuses Pump.fun and several Solana-ecosystem companies of operating an unregistered securities and racketeering enterprise.
A consolidated amended complaint filed in July 2025 named Pump.fun, Solana Labs, the Solana Foundation, Jito Labs, and the Jito Foundation, and alleged a "Pump Enterprise" that pulled between $4 billion and $5.5 billion from retail traders. It added claims under the federal Racketeer Influenced and Corrupt Organizations Act and New York consumer-protection law, according to court filings tracked by Wolf Popper.
In his post, Cohen said the company has built one of the fastest-growing crypto platforms and now needs a legal team that can match its ambitions while managing key risks. The role would sit alongside Baton's general counsel on regulatory affairs, product counsel, corporate governance, and cross-border compliance.
A seven-figure legal salary is a tell. It is what a platform pays when legal exposure is the business risk, not a side issue. The pattern shows up across crypto, from the DOJ's seizure of infrastructure tied to billions in crypto laundering to the same Pump.fun that, two months ago, routed creator fees to nonprofits through charity coins. The new hire would inherit both sides of that record. Worth watching who takes the job.
People Also Ask
How much is Pump.fun's parent paying for a chief legal officer?
Baton Corporation is offering a base salary of $1 million to $5 million for a chief legal officer, according to a June 23 announcement by co-founder Alon Cohen that The Block reported.
What is the lawsuit against Pump.fun about?
A class action in the Southern District of New York accuses Pump.fun and Solana-ecosystem firms of running an unregistered securities and racketeering enterprise that allegedly extracted billions from retail traders.
What is Baton Corporation?
Baton Corporation is the development company behind Pump.fun, a Solana-based platform that lets anyone launch memecoins. It is a named defendant in the New York class action.
Why would a crypto firm pay so much for a lawyer?
Legal and regulatory exposure has become a central business risk for crypto platforms. A large pay package signals how much a company expects to spend defending its model and shaping regulation.
Sources: The Block, Alon Cohen (X), Wolf Popper LLP.