Gate.io Quietly Removes Pump.fun Token Sale Page
Gate.io, a popular cryptocurrency exchange, has silently taken down a token sale page for Pump.fun. This Solana-based platform is famous for its easy token launches. on july 7, crypto enthusiasts on X shared screenshots of a Gate.io page promoting a sale for pump.fun’s PUMP token. The sale was set to start on July 12.
The page outlined a 72-hour initial exchange offering. it offered 150 billion PUMP tokens at $0.004 each, aiming to raise $600 million, valuing the platform at $4 billion.
However,Gate.io has since deleted the page without any description. Now,it shows a 404 error. Neither Pump.fun nor Gate.io has commented on the removal. This sudden action raises questions about the platform’s future plans.
Launched in early 2024,Pump.fun lets anyone create memecoins quickly. It saw daily revenues over $7 million during the January memecoin boom.It has facilitated over 11 million token creations,generating about $700 million in revenue.
Pump.fun has faced legal challenges. It was banned in the UK and is facing a U.S. class-action lawsuit over unregistered securities. The removal of the IEO listing adds to the uncertainty surrounding Pump.fun’s future.
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