Bybit to Launch Pump.fun Token Sale July 13, Excludes EU Users Under MiCA Rules

Sean Williams
Bybit

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Key Takeaways:

  • Users can subscribe using USDT, USDC, SOL, and bbSOL at a fixed price of $0.004 per token.
  • Due to MiCA compliance, users on Bybit.eu are barred from participating.
  • Despite earning over $715M, platform activity has dropped, and new players are emerging.

Crypto exchange Bybit has officially confirmed its participation in the much-anticipated Pump.fun token sale, but not everyone will be able to join in. In a press release issued Wednesday, Bybit clarified that users registered under its EU-regulated platform, Bybit.eu, will be barred from participating due to compliance with the European Union’s Markets in Crypto-Assets Regulation (MiCA).

PUMP Token Sale Details: Timing, Supply, and Pricing

The public sale of PUMP, the native token of the viral no-code memecoin platform Pump.fun, will begin Saturday, July 13 at 14:00 UTC and run through Tuesday. A total of 150 billion PUMP tokens, representing 15% of the 1 trillion total supply, will be sold at a fixed price of $0.004 USDT per token.

Bybit, the world’s second-largest crypto exchange by volume, is currently the only major trading platform confirmed to support the sale. The exchange will accept subscriptions in USDT, USDC, Solana (SOL), and bbSOL, giving both stablecoin and Solana-native users access to the offering.

Pump.fun officially confirmed the launch on X, stating, “Our plan is to Kill Facebook, TikTok, and Twitch. On Solana.”

Regulatory Pressure Mounts in the EU

While global users may eagerly anticipate the PUMP sale, EU-based investors are being left out. Bybit cited MiCA rules as the reason for excluding Bybit.eu users, reinforcing the growing impact of the EU’s comprehensive crypto regulatory framework. The move echoes similar restrictions seen across Europe as exchanges race to align with MiCA ahead of its full implementation.

Gate.io had earlier accidentally published a now-deleted page referencing a $600 million token sale for Pump.fun, adding to speculation and anticipation.

Also Read: Bybit to Charge 18% GST on Crypto Services for Indian Users Starting July 7

Pump.fun’s Meteoric Rise—and Recent Decline

Launched in January 2024, Pump.fun has made waves in the memecoin space by enabling users to launch tokens without any coding experience. Its viral mechanics have fueled over $715 million in revenue, according to DeFiLlama, and a community-driven culture has made it a major player in Solana’s ecosystem.

However, despite the hype around the token sale, platform activity has slumped. Daily volume has dropped 75% since January’s peak, with rivals like LetsBonk now outperforming Pump.fun in daily revenue. Social critics argue Pump.fun has turned altcoin speculation into a gambling spree, with many users reportedly losing money.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

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