Pump.fun ICO sells out in 12 minutes, raises $600 mln: For retail, this means…

Key Points

1. Pump.fun's public token sale concluded in 12 minutes, raising $500 million, with tokens distributed within 48–72 hours.

2. The ICO allocated 33% of tokens (18% for institutional investors, 15% for retail), priced at $0.004 per token, and was conducted on multiple exchanges.

3. Mixed reactions emerged: Haseeb Qureshi praised it as a high-grossing revenue token, while Mary Bent criticized it as harmful to Gen Z investors.

4. 25% of Pump.fun's revenues will be used to buy back PUMP tokens, potentially creating upward price pressure.

5. Bybit restricted E.U. customers from participating in the ICO, and 50% of the total token supply will be unlocked in July, expanding to 70% later.