Gate.io, a cryptocurrency exchange, has removed a webpage detailing the Pump.fun token sale, initially scheduled to begin on July 12. The sale was set to offer 150 billion tokens at a price of $0.004, amounting to a projected $600 million raise at a total valuation of $4 billion. The decision came after a confusing explanation from Gate.io's support, which indicated that the token sale was removed following negotiations, with no confirmed reopening date. Previously, there were rumors suggesting Pump.fun aimed to raise $1 billion through a token sale, but these were never confirmed by the project's co-founder, Alon Cohen. Pump.fun, which gained traction in January during a surge in memecoin interest, has seen significant drops in trading volume since then, declining by around 80% from its peak earlier this year. The platform has facilitated the creation of over 11 million tokens but is now facing shrinking user engagement.

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