Bybit to Host PUMP Token Sale, But Europe Users Barred

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Bybit has confirmed details of the much-awaited Pump.fun token sale, revealing that users registered through its EU-regulated platform, Bybit.eu, will not be permitted to participate in the token sale, citing compliance with the European Union’s Markets in Crypto-Assets Regulation (MiCA).

The public sale of PUMP, the native token of the no-code memecoin launchpad Pump.fun, 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.

The exchange will support subscriptions in USDt (USDT), USDC (USDC), Solana (SOL) and bbSOL, providing access to both stablecoins and Solana-native assets.

Cryptocurrencies, Europe, Cryptocurrency Exchange, European Union, Tokens, MiCA, Memecoin, Policy, Bybit
Source: Cointelegraph

Related: Gate.io deletes page showing a $600M Pump.fun token sale

Pump.fun rises to prominence

Pump.fun, launched in January 2024, quickly rose to prominence for enabling users to create and trade memecoins with zero coding skills. The platform’s gamified interface and viral mechanics have driven a wave of onchain experimentation on Solana, transforming casual users into active token creators and traders.