Crypto exchange Gate.io has sparked intrigue with its sudden and unexpected removal of a page detailing an upcoming token sale for Pump.fun. This public sale, scheduled for July 12, aimed to raise approximately $600 million. The page’s disappearance without warning has left the community buzzing with questions and uncertainty about the token sale.
Pump.fun Token Sale Page Disappears from Gate.io
Significantly, the crypto community has been enthusiastic about a potential token sale for Pump.fun on Gate.io, given the project’s $4 billion valuation and the substantial $600 million fundraising target. However, Gate.io removed the page from both its English and Chinese websites, replacing it with a 404 “page not found” error message, sparking uncertainty.
Notably, as CoinGape reported recently, Gate.io released a post on the token sale. A community member shared an X post, revealing the firm’s “leaked” message on the Pump.fun token sale. According to the page, 150 billion tokens, valued at $0.004 each, were set to be offered for sale, representing 15% of the total 1 trillion token supply.
Interestingly, this bullish development has immediately caught the community’s attention. The partnership between Pump.fun and Gate.io, marking their first collaboration, could prove mutually beneficial and provide a significant boost for both platforms.
Gate.io Leaves Pump.fun Investors in the Dark
However, things changed suddenly when the platform deleted the page, leaving the community anxious. Gate.io’s response to a user about the page takedown has further muddied the waters.
The platform explained that the removal of Pump.fun Pre-Market OTC followed negotiations between Gate.io and the project. The platform hasn’t given a clear timeline or announcement for its potential reopening, and stated, “At this time, there is no confirmed date or announcement for its reopening.”
The vague explanation references a prior announcement about ending OTC trading but doesn’t address investors’ pressing concerns about the token sale. The lack of transparency from Gate.io and Pump.fun’s founder, Alon Cohen, has left stakeholders uncertain, making it difficult for the market to gauge the project’s short-term prospects.
Nynu V Jamal
Nynu V Jamal is a Senior Journalist at CoinGape. She boasts more than 3 years of experience in content writing, with expertise in crypto and blockchain. She has contributed to platforms like CoinEdition and CryptoTale, demonstrating her proficiency in navigating the dynamic crypto landscape.
Beyond her journalistic pursuits, Nynu is a literary enthusiast, having served as an Assistant Professor of English Language and Literature. She is a Master’s degree holder in English Literature and a UGC NET qualifier. Her academic background has enabled her to publish research papers on literature, while also nurturing her creative side as a published poet.
Her creative side extends to music, crafts, and art, which she actively explores. Her unique blend of analytical and creative skills allows her to craft engaging stories that captivate audiences. Stay updated with Nynu on LinkedIn
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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