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Gate Pulls Plug on Pump.fun’s First Public Token Sale Listing

Key Takeaways

  • Gate briefly listed a $600 million Pump.fun token sale scheduled for July 12, then quickly removed it;
  • The page showed 150 billion tokens priced at $0.004 each, which implies a $4 billion total valuation;
  • Gate said the sale was taken down after discussions with Pump.fun, with no new launch date confirmed.

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Gate Pulls Plug on Pump.fun’s First Public Token Sale Listing

An upcoming token sale linked to Pump.fun, a meme coin platform built on the Solana SOL $150.00 blockchain, appeared on Gate before being quietly removed.

The page, which went live on July 8, outlined a plan to sell 150 billion Pump.fun tokens at a price of $0.004 each.

Based on this price, the sale would have raised around $600 million. The full supply was stated as one trillion tokens, which indicates a total valuation of $4 billion.

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The page described the event as Pump.fun’s first official public token sale, set to launch on July 12. However, the page had been taken down, and users trying to access it were met with a "404 page not found" message on both the English and Chinese versions of the site.

In a reply to a user asking about the removal, Gate’s support team said:

We would like to inform you that, according to the latest announcement (2024-10-31) regarding PUMPFUN, following negotiations between Gate and the project, Gate has removed Pump.fun (PUMPFUN) Pre-Market OTC.

The exchange added that "there is no confirmed date or announcement for its reopening".

The response referred to a previous notice from October 2024, when Gate announced it would stop offering over-the-counter trading for Pump.fun.

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Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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