Gate.io removed the Pump.fun token sale page, disrupting plans for a $600 million token launch on July 12.
The exchange cited internal negotiations with Pump.fun but gave no timeline for resumption of the token offering.
Community reaction remains uncertain, as no updates have been issued by Pump.fun or its founder following the takedown.
Gate.io has removed the token sale page for Pump.fun from its platform, causing widespread uncertainty among investors and the crypto community. The page, which had announced a $600 million token offering scheduled for July 12, is no longer accessible on either Gate.io’s English or Chinese websites.
The now-removed page detailed the planned sale of 150 billion Pump.fun tokens, priced at $0.004 each. This sale would have accounted for 15% of the total token supply of one trillion, based on a project valuation of $4 billion. The token listing attracted significant attention, especially as this marked the first collaboration between Pump.fun and Gate.io.
Page Removal Triggers Investor Concern
The sudden disappearance of the token sale page has raised concerns about the project’s direction and transparency. Gate.io’s takedown of the listing triggered confusion, as the link now leads to a “404 page not found” message. Many community members have voiced frustration over the lack of clear communication from both parties.
https://twitter.com/cryptolyxe/status/1942311062256377929
In response to inquiries, Gate.io indicated that the page was removed due to ongoing discussions between the exchange and the Pump.fun team. The platform confirmed that no specific timeline has been set for relisting or resuming the token sale. A previous announcement regarding the conclusion of pre-market OTC trading was referenced but did not directly clarify the status of the token sale.
No Official Update from Pump.fun or Founder
Pump.fun’s founder, Alon Cohen, has not issued a public statement regarding the sudden development. With no confirmed information or next steps provided, stakeholders remain in the dark. The silence from both the project’s leadership and the exchange has further increased the market’s uncertainty.
As the situation unfolds, both Gate.io users and Pump.fun supporters continue to await official updates. The removal of the listing and lack of follow-up details have overshadowed initial investor enthusiasm surrounding the proposed fundraising.
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