Apple delists Pump Fun app one day after stock-pair launch

Apple delisted Pump Fun's iPhone app in several countries on Thursday evening. The action came one day after Pump Fun launched Custom Pairs. Custom Pairs allows anyone to launch a memecoin quoted against a tokenized stock. Pump Fun promoted 93 asset pairs linked to assets such as Boeing, Costco, and Trump Media. Pump Fun's mobile app team said the app was temporarily unavailable in the US and India iOS App Stores. The team said existing installations were operating as usual. The team said users' funds were safe. Apple has not commented on the delisting. The app might be permanently unavailable. Pump Fun can redirect US and Indian users to its website. The Android version remains available on Google Play with more than 500,000 downloads. Canada's listing remains live. The Canadian listing names Maius Imperium Limited of Limerick, Ireland as the publisher. Backpack Securities and Backed Finance's xStocks help create stock tokens available on Pump Fun. Asset pairs can be quoted in stocks, gold, or wrapped BTC. Pump Fun has generated more than $1 billion in revenue. The UK Financial Conduct Authority warned in December 2024 that Pump Fun operated without authorization. Pump Fun blocked UK users within a week. A New York federal judge allowed RICO claims against Pump Fun's parent company Baton Corporation plus founders Alon Cohen, Dylan Kerler, and Noah Tweedale to proceed in litigation ten days ago. The judge dismissed securities-related claims against the company. Plaintiffs in that case allege retail losses as high as $5.5 billion. No court has adjudicated the lawsuit's evidence. The legal allegations remain unproven. The role of those legal issues in Apple's decision is unknown. PUMP fell about 12% over the 24 hours to Thursday evening. PUMP trades below its $0.004 debut price from last year's initial coin offering. The offering raised about $1.3 billion across public and private rounds. PUMP remains 58% below its all-time high.