Gate.io removed its Pump.fun token sale page without notice, sparking investor confusion and uncertainty about the exchange’s intentions.
The sudden disappearance of the Pump.fun token sale page from cryptocurrency exchange Gate.io has caused confusion and questions among the crypto community.
Investors are concerned about the project’s viability when the page abruptly vanished, revealing a $600 million token sale scheduled on July 12.
Pump.fun Token Sale Page Is No Longer Available On Gate.io.
Importantly, considering Pump.fun’s $4 billion valuation and the enormous $600 million fundraising goal, the cryptocurrency world has been excited about a possible token sale on Gate.io.
Uncertainty was raised, though, when Gate.io took the page down from its Chinese and English websites and replaced it with a 404 “page not found” error notice.
Notably, Gate.io published a post about the token sale, as CoinGape recently revealed.
An X post that disclosed the company’s “leaked” communication regarding the Pump.fun token sale was shared by a community member.
The page stated that 150 billion tokens, at $0.004 apiece, would be placed for sale, accounting for 15% of the 1 trillion token supply.
It’s interesting to note that the community has immediately noticed this optimistic development.
Pump.fun and Gate.io have partnered for the first time, which might benefit both parties and boost both platforms.
Pump.fun Investors Are Left In Dark By Gate.io
But when the site abruptly removed the page, the community became uneasy.
The situation has been further complicated by Gate.io’s response to a user regarding the page deletion.
Pump.fun’s prior intentions to raise $1 billion through a token sale at a $4 billion valuation have been overshadowed by the ambiguity and controversy surrounding Gate.io’s abrupt takedown of the Pump.fun token sale page.
The platform clarified that after discussions between Gate.io and the project, Pump.fun Pre-Market OTC was removed.
The site said, “At this time, there is no confirmed date or announcement for its reopening,” without a precise schedule or announcement.
The ambiguous justification refers to an earlier declaration regarding the termination of over-the-counter trading, but it ignores investors’ urgent worries regarding the token sale.
Alon Cohen, the founder of Gate.io and Pump.fun, has not been transparent, which has kept stakeholders in the dark and made it hard for the market to predict the project’s short-term prospects.
