Pump.fun, a platform that allows users to create meme coins, successfully raised an astounding $600 million in only 12 minutes on Saturday.
Key Points:
Pump.fun’s fundraising achievement is one of the largest initial coin offerings (ICOs) on record.
A total of 180 billion tokens were sold to private investors ahead of the public launch.
The platform’s swift growth indicates a resurgence of interest in meme coins and ICO fundraising efforts.
This rapid fundraising event ranks among the most significant ICOs to date and was announced just one day after Bitcoin, the leading cryptocurrency, reached a new all-time high.
Operating on the Solana blockchain, Pump.fun stated on July 9 through X (formerly Twitter) its plan to offer 150 billion tokens at a price of $0.004 each.
Private Investors Snap Up 180 Billion Tokens
Before the public offering, a substantial block of 180 billion tokens had already been allocated to private investors at the same price.
Co-founder Alon Cohen confirmed the figures to Bloomberg News, indicating that the total funds raised now reach $1.32 billion.
However, due to regulatory restrictions, investors from the US and UK were excluded from participation.
While there were initial concerns within the cryptocurrency community that such a large sale might undermine the broader meme coin market, industry experts remain optimistic.
Zaheer Ebtikar, founder of the crypto investment firm Split Capital, noted the rapid shifts in sentiment that characterize the sector, stating, “People go from max fear to max FOMO very quickly,” referring to the sudden influx of buyers looking to capitalize on the sale.
Meme coins have established a unique niche within the cryptocurrency realm, merging internet culture with financial transactions. These coins often leverage humor, viral memes, and celebrity endorsements, making them appealing to both retail investors and industry professionals.
Even former US President Donald Trump made headlines with his own meme coin launch shortly before his second inauguration in January, illustrating the phenomenon’s extensive reach.
$PUMP will be launched through an Initial Coin Offering (ICO)
in the ICO, 33% of the token supply is being sold: 18% in a private sale for institutional purchasers and 15% in a public sale. both private sale and public sale purchasers are on the exact same terms
– each token…
— pump.fun (@pumpdotfun) July 9, 2025
Since its launch in 2024, Pump.fun, co-founded by Cohen, Noah Tweedale, and Dylan Kerler, has become a prominent force in the recent revival of meme coin transactions, particularly on the Solana network.
The platform has garnered billions in investments, boasting nearly $800 million in revenue, according to company representatives.
This success reflects a broader resurgence of ICOs—a fundraising approach that peaked at about $3 billion per month in early 2018 but was later hindered by regulatory scrutiny and notable scams.
Pump.fun has announced that tokens will be available for trading within 48 to 72 hours after the conclusion of the sale.
Pump.fun Acquires Kolscan
In a recent development, Pump.fun revealed its acquisition of Kolscan, a wallet tracking tool aimed at transforming on-chain trading.
This integration will combine Kolscan’s analytics capabilities with Pump.fun’s social trading features, improving transparency, wallet tracking, and copy-trading functionalities.
Co-founder Alon Cohen emphasized that trading is a “social sport,” underscoring the importance of community and shared insights in fostering success within the crypto ecosystem.
As part of this initiative, all Kolscan services will be offered to users free of charge.
Pump.fun has already attracted tens of thousands of users and aims to develop a scalable crypto social media platform, leveraging Kolscan’s infrastructure to expand its community and influence.
