- Pump.fun raised US$600 million in 12 minutes through a public token sale, following a US$720 million private round.
- Following the sale, tokens entered a 48–72 hour distribution phase after which trading will commence on major platforms such as Kraken, Bybit and KuCoin.
- Of the total 1 trillion token supply, 33% was reserved for ICOs, while other allocations support community incentives, team compensation, and ecosystem development.
Solana-based platform Pump.fun raised US$600 million (AU$912.3 million) in just 12 minutes during its public token sale on 9 July, highlighting the ongoing appeal of speculative digital assets. This came after a private round that brought in US$720 million (AU$1.094 billion), pushing Pump.fun’s total capital raised to US$1.32 billion (AU$2 billion).
The sale included 150 billion tokens priced at US$0.004 (AU$0.0061) each, while the earlier private sale distributed 180 billion tokens at the same price. Investors from the US and UK were barred from participating due to regulatory pressures, including a UK Financial Conduct Authority ban and a lawsuit in New York.
While some voiced concerns about market dilution, the rapid sellout suggested strong investor appetite. According to Zaheer Ebtikar of Split Capital, this is a result of sentiment in crypto markets shifting quickly.
People run very hot and cold in our space. You go from max fear to max FOMO very quickly.
Zaheer Ebtikar, Founder of Split Capital.Related: XRP, DOGE and SOL: Thumzup Board Greenlights Crypto Expansion Beyond Bitcoin
Next Steps for Investors and Platforms
Following the sale, Pump.fun began a token distribution process spanning 48-72 hours. During this period, tokens are assigned to wallets but remain non-tradeable. Once complete, trading will open around 15-16 July on exchanges like Kraken, Bybit, and KuCoin.
The project allocates 33% of its total 1 trillion tokens to ICOs, split between private and public buyers. Other allocations include team reserves, community rewards, liquidity, and development.
Despite its fundraising milestone, Pump.fun’s launchpad metrics have declined. Revenue dropped from US$133 million (AU$202.2 million) in January to US$34 million (AU$51.8 million) in June, while launch volume fell from US$11.6 billion (AU$17.65 billion) to US$3.65 billion (AU$5.55 billion). However, PumpSwap exchange posted US$5 million (AU$7.6 million) in monthly revenue.
Pump.fun plans to use the proceeds to build a decentralised social platform aimed at rivaling mainstream tech giants.
Related: Matt Hougan: Tokenisation – Wall Street’s Next Trillion-Dollar Revolution
Credit: Source link
