The Pump.fun ICO, if we want to call it that, went really well.

It sold out in about 12 minutes and raised $500 million.

The PUMP token has a maximum supply of 1 trillion tokens, and about 33 percent of the supply was allocated to the ICO.

The team got 20 percent, existing investors got 13 percent, the ICO got 33 percent, 'community and ecosystem initiatives' got 24 percent, and then there's a bit more for other investors/entities including CEXs.

The elephant that ISN'T in the room

The elephant that isn't the room is, or rather are, European investors.

The token launch was hosted by Bybit but, for regulatory reasons, the PUMP token was not made available to the EU users.

I'll leave it up to you to decide whether that's a good thing or a bad thing.