Pump.fun ICO Raises $500M, Sells Out Within 12 Minutes

July 13, 2025 — Memecoin launchpad Pump.fun raised $500 million in its highly anticipated initial coin offering (ICO), with all tokens selling out in just 12 minutes. The event is now one of the largest token sales in 2025 and has sparked renewed interest in ICOs amid growing excitement and concern in the crypto space.

$PUMP Token Distribution Raises Eyebrows

The ICO offered 33% of the total $PUMP supply. Of this, 18% was reserved for institutional buyers and 15% went to retail traders. Another 24% is set aside for ecosystem growth and future projects, while 13% will support early backers and investors.

Pump.fun said the offering aims to showcase a new model of internet-native capital formation. The platform is widely used for launching memecoins on Solana, and the $PUMP token is designed to fuel future platform developments and reward users.

Community Divided Over Memecoin Frenzy

Despite the record raise, community sentiment remains split. Some crypto investors see the ICO as a sign of sector revival, while others warn of long-term risk.

Dragonfly Capital’s Haseeb Qureshi praised the raise as “one of the highest-grossing revenue tokens in crypto.” In contrast, Truth for the Commoner’s Mary Bent accused the platform of “leading Gen Z to ruin.”