pump.fun is suspected to adopt a Dutch auction model for public sale on major cryptocurrency exchanges

BlockBeats News, February 9th, Crypto KOL @hebi555 shared a post on social media, stating, "The pump's known news is that it will conduct a public sale on major exchanges, rumored to be through a Dutch auction model.

Originally, it was exclusive to a certain exchange, but due to compliance reasons, the exchange canceled. Now, it has switched to multiple exchanges for the public sale. Due to the project's scale and requirements, the current public sale systems of major exchanges do not meet the pump's needs, so the exchanges are customizing and developing public sale procedures for the pump."

The total revenue of pump.fun since its inception has exceeded $525 million.

BlockBeats previously reported that on January 31st, pump.fun was facing a class-action lawsuit, with the plaintiffs accusing pump.fun of violating U.S. securities laws by marketing and issuing an unregistered and highly volatile meme coin, exposing investors to significant financial risks and collecting nearly $500 million in fees.