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Solana's SOL quickly fell about 2% on the news during late afternoon U.S. hours.
Updated Jun 3, 2025, 9:06 p.m. Published Jun 3, 2025, 8:46 p.m.
Pump.fun is planning to raise $1 billion in a token sale at a $4 billion fully diluted valuation (FDV), according to Blockworks, which added that it was unable to confirm timing nor whether the new token would be issued on pump.fun.
The platform, which allows any and all to freely create their own tokens on the Solana blockchain, has generated more than $700 million in total revenue since launching more than a year ago, according to the story.
Solana's SOL
dipped about 2% as the news hit, but has since recovered about half of that knee-jerk decline.
Stephen Alpher
Stephen is CoinDesk's managing editor for Markets. He previously served as managing editor at Seeking Alpha. A native of suburban Washington, D.C., Stephen went to the University of Pennsylvania's Wharton School, majoring in finance. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
