Bybit has announced the launch of the PUMP token sale for the Pump.fun platform, but users from the European Union will be unable to participate.
Restrictions for EU Users
Bybit confirmed that users registered through their EU-regulated platform, Bybit.eu, will not be allowed to participate in the token sale, citing compliance with the European Union’s Markets in Crypto-Assets Regulation (MiCA).
Details of the Token Sale
The public sale of PUMP, the native token of the Pump.fun platform, will open on July 12 at 14:00 UTC and run through July 15. A total of 150 billion PUMP tokens, 15% of the one trillion total supply, will be offered at a fixed price of $0.004 USDT per token. Bybit, currently the world’s second-largest crypto exchange by trading volume, is the only platform participating in the sale.
Overview of Pump.fun
Launched in January 2024, Pump.fun quickly rose to prominence by enabling users to create and trade memecoins without coding skills. The platform’s gamified interface and viral mechanics have driven a wave of on-chain experimentation on Solana, transforming casual users into active token creators and traders.
The PUMP token sale on Bybit draws attention, but restrictions for EU users may impact overall interest in the project.
