Pump.fun Token Sale Proceeds Amid European Restrictions

By: Eva Baxter

Bybit, a prominent crypto exchange, has announced the much-anticipated token sale for Pump.fun's native cryptocurrency, PUMP. Despite the excitement surrounding this sale, European users will be notably absent due to regulatory restrictions. This decision stems from Bybit's adherence to the European Union's stringent Markets in Crypto-Assets Regulation (MiCA), which prevents participation in such token sales through its EU-regulated platform, Bybit.eu.

The public sale is scheduled to commence on Saturday and will span until Tuesday. The sale features 150 billion PUMP tokens, representing 15% of its total supply capped at 1 trillion tokens. These will be made available at a steady price of $0.004 USDT per token. Bybit, recognized as the second-largest crypto exchange globally by trading volume, has been highlighted as the primary exchange facilitating this token sale, though several other platforms are expected to support the event as well.

Pump.fun has positioned itself as a pivotal player in the cryptocurrency landscape, functioning as a no-code memecoin launchpad. This platform's approach is geared towards enabling users to create and deploy memecoins without the complexities of traditional coding. As the date for the public sale approaches, discussions regarding the impact of regulatory frameworks like MiCA on the broader crypto market are intensifying, particularly concerning participation restrictions for European traders.