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.
Latest News
- Michael Saylor signals Bitcoin buy after one-week hiatus2025-07-13 17:11:23
- Bitcoin hits new all-time high above $119K as trader eyes 7-week uptrend2025-07-13 15:46:59
- RWAs build mirrors where they need building blocks2025-07-13 15:10:12
- CZ shares rumors linking Coinbase to Bloomberg’s Trump stablecoin report2025-07-13 11:51:35
- Collapsed crypto firm Ziglu faces $2.7M deficit amid special administration2025-07-13 10:41:59