Key Takeaways
- Pump.fun’s upcoming token sale has drawn fire from its own community.
- Critics called out the founder for contradicting past anti-presale comments.
- The memecoin platform aims to raise $600 million at a $4 billion valuation.
After months of silence, Pump.fun has returned with a presale that’s stirring up more controversy than celebration.
The Solana-based memecoin launchpad, once hailed as a decentralized playground for degens, now finds itself in the middle of a heated debate about motives, timing, and valuations.
The company plans to launch its PUMP token via a public sale this week, but not everyone’s buying the pitch.
Pump.fun ICO Details: 150 Billion Tokens, $600 Million Raise
Since its launch, Pump.fun has enabled over 11 million tokens and generated more than $700 million in revenue.
The upcoming token, PUMP, is positioned as a utility token for both the platform and its new AMM protocol, PumpSwap.
The public sale kicks off on July 12, 2025, and will run until July 15 or until the 150 billion tokens (15% of the total supply) sell out.
Tokens are priced at $0.004 each, which implies a fully diluted valuation of $4 billion.
This follows an earlier private round that also sold 18% of the supply at the same price.
Buyers can use fiat (USD, EUR, GBP, etc.) and stablecoins like USDC, USDT, or USDG, with the sale hosted across Bybit, Kraken, KuCoin, Bitget, Gate.io, and MEXC.
But even with the infrastructure in place, the optics aren’t great.
Pump.fun’s revenue has nosedived 92% since its January peak, and daily trading activity has slowed dramatically.
From a high of over 1,100 successful token launches in one day, July saw just 69.
Community Reaction: “Exit Liquidity,” Hypocrisy, and Legal Lurking
The presale isn’t going down smoothly.
Jocy, founder of IOSG Ventures, was among the first to publicly criticize the move.
She called it “a final exit liquidity event,” arguing that the platform’s current revenue and activity levels don’t support the lofty $4 billion valuation.
“In the current market environment where buying power is severely insufficient, such a high valuation cannot be sustained. This stands in stark contrast to the valuation support logic of Hyperliquid,” she said.
Others pointed to past comments from the Pump.fun founder, who once said, “Every pre-sale is a scam.” Naturally, those tweets have resurfaced.
Adding fuel to the fire, Pump.fun is facing a $500 million lawsuit in the U.S. over promoting unregistered securities and a warning from the U.K.’s Financial Conduct Authority (FCA).
Not to mention: According to one analysis, 98.6% of tokens launched on Pump.fun have been labeled as scams or rug pulls, further tarnishing the platform’s image.
Prashant Jha is a seasoned crypto journalist based in Delhi, India, with a Bachelor’s Degree in Computer Science Engineering. Passionate about the evolving world of blockchain and cryptocurrencies, he has been a dedicated voice in the industry since 2018. Prashant’s expertise lies in regulatory reporting, where he unravels complex legal and financial developments with clarity and precision. Before joining CCN in 2024, he honed his craft at Cointelegraph, establishing himself as a trusted name in crypto journalism.
His coverage spans major industry events, including the high-profile collapses of FTX, Three Arrows Capital (3AC), and LUNA, offering readers insightful analyses of their regulatory and market implications. Prashant’s technical background enables him to bridge the gap between intricate blockchain technology and its real-world applications, making his work accessible to novices and experts.
Beyond his professional pursuits, Prashant is an avid music enthusiast, often exploring diverse genres to unwind. A sports lover, he has a particular passion for cricket and frequently engages in discussions about the game. His multifaceted interests and sharp journalistic instincts make him a valuable contributor to CCN, where he continues shaping the crypto landscape's narrative.
