Pump.fun Raises $600M in Record-Breaking PUMP Token Sale

Memecoin launchpad Pump.fun has stunned the crypto market by pulling off one of the fastest initial coin offerings (ICOs) in history.

On Saturday, the platform sold 15% of its PUMP token supply in just 12 minutes, raising $600 million and valuing the project at $4 billion fully diluted.

The sale offered tokens at $0.0040 each, attracting overwhelming demand. Though the ICO was initially set to last 72 hours, it sold out almost instantly. In the next 48 to 72 hours, all 150 billion PUMP tokens from the sale will be delivered to investors, although the tokens will remain untradeable until July 15, according to ICO Drops.

Massive interest from major exchanges

Several top-tier centralized exchanges hosted the token sale. Gate reportedly processed $5 million in orders, while Kraken and KuCoin saw investments of $30 million and $16.5 million, respectively. Notably, U.S. and U.K. investors were barred from participating due to regulatory restrictions.

This public offering follows a previous private sale where 180 billion tokens — 18% of the total 1 trillion supply — were sold to institutional investors. In total, 33% of all PUMP tokens have now been allocated to early buyers.

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Kraken promises airdrops after system failure

The high demand created some technical issues. Kraken’s system failed to process certain investor orders despite their timely participation. To compensate, Kraken will airdrop PUMP tokens to affected users. Co-CEO Arjun Sethi confirmed that internal logs are being reviewed to identify impacted clients, with outreach promised soon.

With over $1.32 billion now raised through token sales, Pump.fun has firmly positioned itself as a memecoin force — and one of 2025’s breakout projects. Whether its market momentum will match this funding frenzy remains to be seen once trading opens.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.