CMC News

$PUMP Token Sale Raises $600 Million in Record 12 Minutes

  Pump.fun's $PUMP token sale completely sold out in just 12 minutes, raising $600 million from investors.

The meme coin launchpad offered 15% of its total 1 trillion token supply at $0.004 per token through multiple exchanges.

The sale required KYC verification and was part of   Pump.fun's stated mission to "Kill Facebook, TikTok, and Twitch...On Solana."

Crypto exchange Bybit faced oversubscription issues due to API delays and is currently refunding users who didn't receive allocations.

The #TokenSale comes as   Pump.fun faces competition from #LetsBONK, which has processed more volume over the past seven days.

Platform co-founder Alon Cohen confirmed the full 15% allocation was sold despite initial website showing 12.5%.

The team is considering utility mechanisms like fee rebates, token buybacks, and other incentives for holders.

Revenue sharing with token holders remains under consideration as the platform expands its #Solana ecosystem presence.