The development of the Pump.fun token faces new uncertainties after the crypto exchange Gate.io unexpectedly removed its pre-market listing.
Removal of Pump.fun Token Page on Gate.io
On September 26, Gate.io announced the launch of the first official sale of the Pump.fun token, scheduled for July 12-15, but within hours, the sale page was taken down, leaving participants without clarity. The exchange did not clarify the reason for the removal but confirmed that funds were returned to all presale participants.
Issues and Rumors Surrounding Pump.fun
The removal of the sale page has led to a flurry of rumors about potential strategic issues within the project. Earlier reports hinted at Pump.fun's plans to raise $1 billion, but these were not confirmed by the platform or its co-founder.
Controversies and Legal Issues of Pump.fun
A Solidus Labs report indicated that over 98% of tokens launched on Pump.fun are either rug pulls or part of pump-and-dump schemes. The project has faced significant legal challenges, including class-action lawsuits over unregistered securities. Additionally, Pump.fun suspended its livestream feature last November following a scandal involving disturbing content.
The uncertainty surrounding the Pump.fun token launch highlights ongoing issues within the platform, which continues to face legal and operational challenges. The future of the token remains uncertain, and traders are awaiting further official announcements.
