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Solana Labs & Jito Labs Face Explosive RICO Charges in Pump Fun Fraud Lawsuit—Crypto’s Latest Legal Firestorm
Solana Labs & Jito Labs Face Explosive RICO Charges in Pump Fun Fraud Lawsuit—Crypto’s Latest Legal Firestorm
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Solana's ecosystem reels as federal prosecutors drop the hammer—alleging organized crypto fraud under RICO statutes. Here's why this case could send shockwaves through DeFi.
The racketeering twist: Prosecutors claim Pump Fun's alleged scam wasn't just fraud—it was structured like traditional organized crime. A first for crypto litigation.
VC fallout: Both Solana Labs and Jito Labs named as defendants, putting institutional backers in the crosshairs. When the SEC won't suffice, apparently the DOJ brings out the big guns.
Market impact: SOL tokens dipped 8% on the news—because nothing says 'healthy blockchain' like mafia comparisons. Just another Tuesday in crypto's relentless quest to merge finance and true crime.
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