Gate.io – one of the oldest cryptocurrency exchanges – caused a stir in the crypto community by abruptly posting and then deleting an announcement about the presale of Pump.fun’s PUMP token. As of now, neither party has provided an official explanation.
According to the initial information, if the announcement was accurate, the presale would take place on July 12 with a target of raising $600 million. Around 150 billion tokens out of a total supply of 1 trillion would be sold at a price of $0.004 per token.
Is Pump.fun Partnering with Gate.io?
Pump.fun – a platform known for launching meme coin projects – had previously denied plans to release its own token. However, last month it unexpectedly confirmed the upcoming launch of the PUMP token, aiming for a highly ambitious $4 billion valuation.
Gate.io’s announcement hinted at a potential partnership, suggesting that the exchange would host the presale of the PUMP token on July 12. At first glance, this seemed like a win-win: Gate.io could provide a large platform, and Pump.fun would benefit from wider exposure.
But given recent developments, many in the community remain skeptical. Just last month, Gate.io delisted 33 tokens due to “quality concerns” and has faced criticism for listing projects with alleged scam connections. On the other hand, Pump.fun is no longer the dominant meme coin launchpad, having faced issues with trading bots and user losses.
What shocked many was that Gate.io suddenly pulled all references to the presale without any explanation. This has raised several questions: Was it a security breach? Were there errors in the announcement? Or did the exchange simply reveal the information too early?
If the removed details were accurate, the PUMP token would have a total supply of 1 trillion, with 150 billion tokens to be sold at $0.004 each — potentially raising $600 million.
Some users have also raised doubts about the oddity of hosting the presale simultaneously on both Gate.io and Pump.fun. While the exchange could help boost awareness, there’s no clear reason for a dual-platform launch.
For now, everything remains uncertain until either company breaks the silence. In a similar case last month, Magic Eden retracted an announcement about its TRUMP Wallet, causing the ME token to crash to an all-time low. Depending on Gate.io’s reasons for removing the presale page, the situation could spiral into further chaos.
