Pump.fun ICO raises $500M, sells out within minutes
2025-07-12 17:42:38
Main Idea
Pump.fun raised $500 million in an ICO that sold out in 12 minutes, but the crypto community remains divided on the impact of memecoins and Pump.fun's role.
Key Points
1. Pump.fun raised $500 million in an ICO, with the PUMP token having a maximum supply of 1 trillion and 33% allocated to the ICO.
2. Of the ICO allotment, 18% went to institutional investors and 15% to retail traders.
3. The crypto community is divided on Pump.fun, with some criticizing its impact and others highlighting concerns about automated bot activity.
4. Coinbase's head of product noted that a significant portion of tokens on Pump.fun are created by bots, citing one individual responsible for 18,000 tokens.
Description
Venture capitalists and the Solana community touted the ICO as a showcase for capital formation in the age of internet capital markets.
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