Bybit Prohibits European Users From Participating in Pump.Fun Sale

Bybit exchange has announced details of the upcoming Pump.fun (PUMP) token sale, revealing that its European customers are excluded from participating.

The decision comes as Bybit EU, the exchange’s MiCA‑compliant European arm, navigates strict compliance under the Markets in Crypto‑Assets Regulation (MiCA). As a result of these regulatory constraints, European users are prohibited from participating in this token sale.

Details of PUMP Token Sale

The public sale of PUMP, the native token of the Solana memecoin launchpad Pump.fun, will open on Saturday at 14:00 UTC and run through Tuesday. The sale will offer 150 billion PUMP tokens, representing 15% of the total 1 trillion supply. The fixed sale price is $0.004 USDT per token.

Bybit will support subscriptions in USDT, USDC, SOL, and bbSOL, which include both stablecoins and Solana-native assets. This aligns with Pump.fun’s infrastructure on the Solana blockchain.

Bybit is currently the second major crypto exchange to reveal details about the upcoming PUMP token sale. On Tuesday, Gate.io briefly published a page detailing the $600 million PUMP token sale. However, the exchange swiftly removed the page from its websites, replacing it with a standard 404 “page not found” error. 

Bybit’s official confirmation of the PUMP token sale positions the exchange as the centerpiece for this launch.

Pump.fun Sees Declines

Launched in January 2024, Pump.fun quickly gained popularity by allowing users to create and trade memecoins without any coding experience. According to DefiLlama, the platform has generated over $715 million in total revenue. It has also earned more than $35 million over the past month alone.

However, activity on the platform has slowed. Data from Dune Analytics shows a 75% drop in trading volume since January. DeFiLlama indicates an even larger decrease, with daily volume falling by approximately 80% over the past six months.

The downturn comes as new competitors have entered the space. Recently, Solana’s new memecoin launchpad, LetsBonk, generated $1 million, surpassing Pump.fun’s daily revenue. This signals a potential shift in the dominance of memecoin.

Furthermore, many users have expressed concerns on social media. One of these is Ash Crypto, which claimed that about $700 million was pulled from users. He added that many suffered losses while trading memecoins on the platform.

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