Gate.io Deletes $600M Pump.fun Token Sale Page
The post Gate.io Deletes $600M Pump.fun Token Sale Page appeared on BitcoinEthereumNews.com. Cryptocurrency exchange Gate.io has quietly removed a page showing an upcoming token sale for the Pump.fun Solana-based memecoin platform. On Tuesday, users of X noticed a “leaked” webpage showing details of a public sale of the Pump.fun official token, scheduled to start on July 12. The page shows 150 billion tokens being offered at $0.004 out of a total supply of 1 trillion tokens. The raise would amount to around $600 million. The page states the IEO (Initial Exchange Offering) marks Pump’s “first official public token sale,” and the IEO valuation is set at $4 billion. However, the crypto exchange later deleted the page from both the English and Chinese versions of the website, now showing a 404 “page not found” notice. Original token sale page. Source: Colin Wu Gate.io support post adds to confusion A response from Gate.io support to a user about the takedown has only added more confusion, stating, “Following negotiations between Gate and the project, Gate has removed Pump.fun Pre-Market OTC. At this time, there is no confirmed date or announcement for its reopening.” The message references an October 2024 announcement that the exchange would no longer support over-the-counter trading for Pump.fun. Cointelegraph reached out to Gate.io and Pump.fun founder Alon Cohen for comment, but did not receive an immediate response. The Pump.fun token sale page now shows a 404 notice. Source: Gate.io Token sale rumors In early June, rumors emerged that Pump.fun was planning to raise $1 billion through a token sale that would value the company at $4 billion. However, neither the platform nor its co-founder, Alon Cohen, confirmed these rumors despite a report at the time citing people familiar with the matter. Related: Pump.fun and its founder hit in X account suspension blitz Pump.fun’s popularity wanes after memecoin slump The Solana-based meme marketplace…
The post Gate.io Deletes $600M Pump.fun Token Sale Page appeared on BitcoinEthereumNews.com.
Cryptocurrency exchange Gate.io has quietly removed a page showing an upcoming token sale for the Pump.fun Solana-based memecoin platform. On Tuesday, users of X noticed a “leaked” webpage showing details of a public sale of the Pump.fun official token, scheduled to start on July 12. The page shows 150 billion tokens being offered at $0.004 out of a total supply of 1 trillion tokens. The raise would amount to around $600 million. The page states the IEO (Initial Exchange Offering) marks Pump’s “first official public token sale,” and the IEO valuation is set at $4 billion. However, the crypto exchange later deleted the page from both the English and Chinese versions of the website, now showing a 404 “page not found” notice. Original token sale page. Source: Colin Wu Gate.io support post adds to confusion A response from Gate.io support to a user about the takedown has only added more confusion, stating, “Following negotiations between Gate and the project, Gate has removed Pump.fun Pre-Market OTC. At this time, there is no confirmed date or announcement for its reopening.” The message references an October 2024 announcement that the exchange would no longer support over-the-counter trading for Pump.fun. Cointelegraph reached out to Gate.io and Pump.fun founder Alon Cohen for comment, but did not receive an immediate response. The Pump.fun token sale page now shows a 404 notice. Source: Gate.io Token sale rumors In early June, rumors emerged that Pump.fun was planning to raise $1 billion through a token sale that would value the company at $4 billion. However, neither the platform nor its co-founder, Alon Cohen, confirmed these rumors despite a report at the time citing people familiar with the matter. Related: Pump.fun and its founder hit in X account suspension blitz Pump.fun’s popularity wanes after memecoin slump The Solana-based meme marketplace…
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