Quick overview

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Gate.io, a cryptocurrency exchange, abruptly removed its pre-market listing for Pump.Fun’s native token.

Details about what appeared to be the first official sale of the utility token for the Solana-based meme coin platform were posted by Gate.io on Tuesday. 150 billion tokens were offered at $0.004 each during a sale scheduled for July 12–15, aiming to raise about $600 million and reach a $4 billion fully diluted valuation.

 

However, within hours, the page was quickly taken down and replaced with a 404 error. Soon after, Gate.io announced that it had removed Pump. fun’s pre-market OTC trading pairs and reimbursed all presale participants after consulting with the project. The exchange stated that updates would only be made through official announcements, but did not specify a new listing date.

“After discussions between Gate.io and the project, we want to inform you that Gate.io has eliminated Pump. fun Pre-Market OTC trading, per the latest announcement regarding PUMPFUN. No announcement or confirmation of its reopening has been provided yet.”

Gate.io installed a presale tracker and countdown before removing it, indicating some level of planning. It now appears that the project’s token launch has been postponed indefinitely, as the Solana-based meme coin platform has not commented on the removal or confirmed the sale details, including the leaked July 12–15 window.

Over 98 percent of tokens launched on Pump. fun have resulted in rug pulls or pump-and-dump schemes, according to a Solidus Labs report published in May. Only 97,000 of the more than seven million tokens introduced between January 2024 and March 2025 managed to maintain liquidity above $1,000.

The meme coin creator also faced significant legal issues, especially regarding class-action lawsuits over unregistered securities. Furthermore, after displaying violent and threatening content in November last year, it was permanently suspended from livestreaming.