Gate.io removed Pump.fun token sale page after confusion, raising questions about the platform.

Cryptocurrency exchange Gate.io removed a page announcing an upcoming token sale for the Pump.fun Solana-based memecoin platform. The page showed 150 billion tokens offered at $0.004 out of a total supply of 1 trillion tokens, with a raise of around $600 million. The IEO valuation was set at $4 billion. Gate.io later deleted the page, causing confusion. In early June, rumors emerged that Pump.fun was planning a $1 billion token sale, valuing the company at $4 billion, but neither the platform nor its co-founder confirmed. The Solana-based meme marketplace Pump.fun saw a surge in popularity in January during the memecoin frenzy, creating over 11 million new tokens with a total revenue of approximately 4.4 million Solana (SOL), or roughly $655 million. However, volumes have plummeted around 75% since January, with DefiLlama reporting an 80% slump in daily volume over the past six months. LetsBonk, Solana’s newest memecoin launchpad, doubled Pump.fun’s daily revenue with $1 million on Monday.

Read more at Cointelegraph: Gate.io Deletes $600M Pump.fun Token Sale Page