{"content":"Pump.fun Raises $500M in Record Time ICO Sells Out in Minutes Pump.fun, the company that launched Memecoin, raised $500 million in an initial coin offering (ICO) on Saturday. The ICO sold out in roughly 12 minutes. There is a maximum quantity of 1 trillion PUMP tokens, and 33% of that supply went to the ICO. The memecoin platform says that 24% of the supply was set aside for the ecosystem and future community initiatives, while 13% was set aside for current investors. The 33% ICO allocation was split up such that 18% went to institutional investors and 15% went to individual traders. The ICO for Pump.fun might mean that the memecoin sector is coming back. This sector had a big drop in value after being one of the best-performing asset classes in 2024. Uphold is the one software you need to purchase, trade, earn, and manage all your crypto. Risking capital. Conditions Apply. The public token sale also signals the return of initial coin offerings, which died out in the US while Gary Gensler was head of the Securities and Exchange Commission (SEC) because of regulatory pressure. Even if the ICO collected $500 million, the crypto community is still split on what Pump will do. Some people are happy with the platform's expansion, while others say it's bad for the sector as a whole. Haseeb Qureshi, managing partner at the venture capital company Dragonfly, stated, "This will be one of the highest-grossing revenue tokens in crypto, in addition to being one of the largest ICOs ever." Mary Bent, who started Truth for the Commoner (TFTC), replied to Qureshi by saying, "Pump.fun and those who support it, even if they don't know it, are Pied Pipers leading Gen Z to ruin." #Pumpfun #USCryptoWeek #BTCBreaksATH #ETHBreaks3k $PUMP $PUMPBTC ","images":["https://d2kdcqywr8ua22.cloudfront.net/uploadfile/article/blog/2025072025/07/12/bd1cdd2bb65ce3d4acf2edb527d4d5be.png"],"tags":[],"tradingPairs":["ETH/USDT"],"quotearticleid":0}