Baton Corporation, the UK-registered entity behind the Solana-based memecoin launchpad Pump.fun, has posted a job listing for a Chief Legal Officer (CLO) with an annual salary ranging from $1 million to $5 million. Co-founder Alon Cohen promoted the opening on June 24, 2026, stating the company is looking for someone who can own its regulatory and litigation posture.
The hiring spree comes as Baton battles a consolidated class action in the Southern District of New York that alleges Pump.fun sold unregistered securities in violation of the Securities Act of 1933. Plaintiffs, led by Diego Aguilar through Wolf Popper LLP, further claim under a RICO theory that Baton operates a racketeering enterprise. A separate lawsuit, filed in January 2025, focuses on the PNUT token, a Solana memecoin that once hit a $1 billion market cap before crashing 89%.
The job listing, hosted on Solana’s job board, reveals that Pump.fun processes over $300 million in daily trading volume and generated more than $500 million in profit last year with a team of fewer than 100 employees. Meanwhile, a Change.org petition citing Dune Analytics data notes that over 60% of roughly 4.25 million wallets trading on the platform lost money, with nearly 1,700 wallets suffering losses exceeding $100,000 each.
The CLO role will report to a general counsel and must have at least 10 years of experience, New York Bar admission, and direct experience managing regulatory investigations across the SEC, CFTC, FinCEN, OFAC, UK FCA, and EU MiCA frameworks. The stakes are immense: Brown Rudnick LLP represents Baton, and the RICO claim—which allows treble damages—sizes the case at approximately $5.5 billion, with plaintiffs seeking a receiver to take control of operations. The Aguilar trial date remains unset, with the latest court filing dated April 14, 2026.
