Gate.io's removal of the Pump.fun token sale page has left investors uncertain about the planned IEO, originally set to raise $600 million.
Gate.io has removed a webpage detailing an upcoming token sale for the Pump.fun platform, which was initially scheduled to start on July 12. The page indicated an offering of 150 billion tokens at $0.004 each, aiming to raise around $600 million with a valuation of $4 billion. Following the deletion, Gate.io support stated there is no confirmed date for the reopening of the sale, adding to the confusion surrounding the project. Rumors had previously suggested a potential $1 billion raise for Pump.fun, but these were not confirmed by its founder, Alon Cohen. The platform has seen a significant drop in trading volume since its peak during the memecoin craze in January.