Pump.fun’s $500M ICO: A 12-Minute Wonder or a Red Flag? 🤔💰

So, the Solana-based meme coin launchpad, Pump.fun, just wrapped up the initial coin offering (ICO) for its native cryptocurrency, PUMP, in a mere 12 minutes. 🕒 But, and there’s always a but, something smells a bit fishy. 🐟

According to the data on the Pump.fun token website, they managed to rake in a cool $500 million during the sale. The platform sold 12.5% of the PUMP total supply for a measly $0.0040 each in a public offering. That’s like selling a Ferrari for the price of a used bike. 🚴‍♂️

Speculation Around Pump.fun ICO

When they announced the ICO on July 9, Pump.fun claimed their native token would have a maximum supply of one trillion. 33% of the supply was supposed to be sold at the ICO, 24% reserved for community and ecosystem initiatives, and 20% to the project’s team. The project also allocated 13% to existing investors, and the rest in smaller percentages to the ecosystem fund, exchange liquidity, and live streaming. 📺

Out of the 33% allocated to the ICO, Pump.fun decided to keep 18% for a private sale to institutional buyers. The remaining 15%, accounting for 150 billion PUMP, was supposed to be offloaded in a public sale. But here’s the twist: they only offloaded 12.5% of the supply in the public sale. So, what happened to the remaining 2.5%? Did it just vanish into thin air? 🤷‍♀️

Tokens to be Tradeable in 72 Hours

While the crypto community is busy speculating, Pump.fun confirmed it has allocated the tokens kept for the private sale to their buyers. Users who participated in the public sale will receive their assets within the next 48-72 hours. However, they won’t be tradable or transferable until the distribution phase is over. It’s like getting a new toy but not being allowed to play with it for a few days. 😩

All ICO participants will be able to sell or transfer their PUMP allocations on the first day they become tradable. It’s like a big, digital “go” signal. 🚦

“We’d like to thank everyone who participated in the sale, whether on pump fun or on one of the participating exchanges, and we look forward to the very bright future of pump fun and the wider Solana ecosystem,” the platform stated.

It’s worth mentioning that Pump.fun faced a few hiccups in the days leading up to the ICO. On July 8, the crypto exchange Gate.io abruptly removed its pre-market listing for PUMP and returned funds to all presale participants. The exchange eventually revealed that its decision was due to a discussion it had with the Pump.fun team. Despite this, PUMP ICO participants still managed to buy tokens worth $5 million on the exchange. 🎉

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2025-07-13 09:43