Pump.fun Launches ICO, Raises $500 Million Within Minutes

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Memecoin launch platform Pump.fun raised $500 million in an initial coin offering (ICO) on Saturday, which sold out in about 12 minutes.

The PUMP token has a maximum supply of 1 trillion, and 33% of the supply was data-ct-non-breakable=”null” href=”https://cointelegraph.com/news/pumpfun-token-sale-confirmed-bybit-bars-european-users” title=”null”>allocated to the ICO. 24% of the supply was allocated to the ecosystem and future community projects, while 13% was reserved for existing investors, according to the memecoin platform.

Of the 33% ICO allotment, 18% went to institutional investors, and 15% was offered to retail traders. Pump.fun’s ICO may signal the return of the memecoin…



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Pump.fun Launches ICO, Raises $500 Million Within Minutes


Memecoin launch platform Pump.fun raised $500 million in an initial coin offering (ICO) on Saturday, which sold out in about 12 minutes.

The PUMP token has a maximum supply of 1 trillion, and 33% of the supply was data-ct-non-breakable=”null” href=”https://cointelegraph.com/news/pumpfun-token-sale-confirmed-bybit-bars-european-users” title=”null”>allocated to the ICO. 24% of the supply was allocated to the ecosystem and future community projects, while 13% was reserved for existing investors, according to the memecoin platform.

Of the 33% ICO allotment, 18% went to institutional investors, and 15% was offered to retail traders. Pump.fun’s ICO may signal the return of the memecoin…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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