The long-speculated launch of Pump.fun’s native token is facing fresh uncertainty after crypto exchange Gate.io abruptly removed its pre-market listing for the coin.
The latest development has left traders without clarity on its timeline.
Gate.io Pulls Pump.fun Token Sale Page
On Tuesday, Gate.io posted details for what appeared to be the first official sale of the Solana-based meme coin platform’s utility token. A sale was scheduled for July 12-15, which offered 150 billion tokens at $0.004 each, and aimed for a $4 billion fully diluted valuation and raising around $600 million. However, the page was swiftly taken down within hours, replaced by a 404 error.
Shortly thereafter, Gate.io announced that after discussions with the project, it had removed Pump.fun’s pre-market OTC trading pairs and returned funds to all presale participants. The exchange did not provide a new listing date, but stated that updates would only come through official announcements.
“Hello. We would like to inform you that, according to the latest announcement regarding PUMPFUN, following negotiations between Gate and the project, Gate has removed Pump.fuun Pre-Market OTC. At this time, there is no confirmed date or announcement for its reopening.”
Additionally, Gate.io had even set up a countdown and presale tracker before removing it, which indicated some level of advanced planning. With no comment from the Solana-based memecoin platform regarding the removal or confirmation of the sale details, including the leaked July 12-15 window, the project’s token launch now appears postponed indefinitely.
The latest snafu has fueled confusion within the community over whether the takedown was due to a leak, a marketing misstep, or deeper strategic issues.
Pump.fun was launched in January 2024 by pseudonymous founder Alon Cohen, allowing users to launch and trade meme coins instantly using a bonding curve model on Solana. It’s rumored that the native token was expected to unlock future features like community rewards and giveaways.
Reports in early June also suggested that Pump.fun was eyeing a $1 billion token raise that would value it at $4 billion, but the platform and its co-founder did not verify these rumors.
Pump.fun Controversies
A Solidus Labs report in May found that more than 98% of tokens launched on Pump.fun collapse into rug pulls or pump-and-dump schemes. Between January 2024 and March 2025, over seven million tokens were launched on the platform, but only 97,000 maintained liquidity above $1,000.
Pump.fun’s bonding curve model benefits early buyers while later participants face steep losses when creators exit, the report said. Separate findings from Pine Analytics highlighted “deployer-funded, same-block sniping,” a tactic that enables creators to profit instantly at launch.
The meme coin generator also faced significant legal troubles, especially with the class-action lawsuits over unregistered securities. It also had to suspend its livestream feature indefinitely after disturbing content, including violence and threats, in November last year.
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