Memecoin startup platform Pump.fun sold $500 million worth of PUMP tokens in a record 12 minutes—an event that has caused the crypto community to split into two camps.
Looking at the token allocation, the total supply is 1 trillion tokens, with 33% allocated to the ICO, 18% to institutional investors, and 15% to retail traders.
$PUMP will have a maximum supply of 1,000,000,000,000 and will be distributed as follows:
33% will be sold in the Initial Coin Offering
24% reserved for community and ecosystem initiatives
20% to the team
2.4% to the ecosystem fund
2% for the foundation
13% to existing investors… pic.twitter.com/0SmmEK16O9— pump.fun (@pumpdotfun) July 9, 2025
Reflecting on the market, the success of Pump.fun may signal a revival of the memecoin sector, which experienced a sharp decline despite being one of the most profitable asset classes in 2024.
Moreover, this offering marks the return of ICOs, which had nearly disappeared in the U.S. due to regulatory pressure under former SEC Chairman Gary Gensler.
As the community reacts, opinions about Pump.fun are sharply divided. Haseeb Qureshi, managing partner at Dragonfly Venture Fund, enthusiastically stated:
the moment you’ve all been waiting for$PUMP is launching through an Initial Coin Offering on Saturday, July 12th.
airdrop coming soon.
our plan is to Kill Facebook, TikTok, and Twitch. On Solana.
learn more about $PUMP and how to get involved 👇 pic.twitter.com/KApiGnvtBg
— pump.fun (@pumpdotfun) July 9, 2025
However, in contrast, Mary Bent, founder of Truth for the Commoner, sharply criticized the platform.
Adding a note of caution, Conor Grogan, chief product officer at Coinbase, pointed out that the “vast majority” of tokens launched on memecoin creation platforms like Pump.fun and rival LetsBonk are created by automated bots.
The great majority of tokens launched on PumpFun and LetsBonk are today run by bots; the below chart pulls new tokens launched on Letsbonk over the last 24 hours. The top accounts launch, on average, one new token every 3 minutes https://t.co/b5Inljc9z9 pic.twitter.com/S1GMqcrXkG
— Conor (@jconorgrogan) July 7, 2025
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Source:: $500 Million in 12 Minutes: Pump.fun Achieves the Fastest ICO in Crypto History