Just-In: Gate.io Removes Pump.Fun Token Sale Page Without Warning

Crypto exchange Gate.io’s abrupt removal of the Pump.fun token sale page has sparked uncertainty and raised questions in the crypto community. The page had detailed a $600 million token sale set for July 12, and its sudden disappearance has left investors wondering about the project’s future.

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. Gate.io’s sudden removal of the Pump.fun token sale page has sparked uncertainty and debate, overshadowing Pump.fun’s earlier plans to raise $1 billion through a token sale at a $4 billion valuation.

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.