PANews, July 9 - According to The Block, on Monday, Pump.fun claimed it planned to sell 150 billion PUMP tokens to raise $600 million, drawing criticism. Additionally, related listing information on the Gate exchange mysteriously disappeared, leading many cryptocurrency advocates to believe this situation reflects poorly. The Block's research director Steven Zheng stated: "Some users were surprised by Pump's token sale; they originally expected it to conduct a large-scale airdrop like popular applications such as Hyperliquid. While an airdrop may still be in preparation, it certainly leaves a negative impression that Pump, which has already raised $700 million through other means, is seeking to raise another $600 million through a token sale."
Alice Shikova, the marketing director of Space ID, stated that as the meme coin craze wanes, the demand for Pump.fun's token sale may fall short of expectations. Although it has brand advantages, this move carries risks due to insufficient demand and liquidity. Cryptocurrency researcher @0xCabana posted: "The issuance of tokens by Pump.fun is like a corrupt presidential candidate promising not to embezzle this time." Ray Youssef, CEO of Noones App, posted on X: "Heartless exchanges exploit users through perpetual contracts, while Pump.fun sucks the vitality out of DeFi, ruining cryptocurrency. Newcomers enter only to get scammed and then disappear without a trace."
