IOSG founding partner: Pump.fun public offering is more like a team seeking to exit liquidity, and project and market fundamentals cannot support inflated valuations

BlockBeats News: On July 10th, Josie, the founding partner of IOSG, posted on social media that she believes the Pump.fun public offering is more like a highly speculative gamble where participants exit liquidity. Jocy stated that Pump.fun has experienced explosive growth since its launch in early 2024, with cumulative protocol revenue reaching approximately $700 million, making it one of the most profitable projects in the cryptocurrency industry. However, Pump.fun's daily revenue has decreased by 92% from its peak, currently only about $500000. The market value of graduation projects has dropped from tens of millions of dollars in the past to a freezing point of 50000 to 100000 dollars. The market share has also been surpassed by competitor LetsBank (51% share), and Pump.fun has dropped to 39.9%. From the perspective of token economics and risk exposure, this round of ICO is aimed at retail investors (15%) and institutions (18%), with a cumulative sale of 33% of tokens and a corresponding financing amount of up to 1.32 billion US dollars. Adding past fee income, http://Pump.fun The team will hold nearly $2 billion in cash. This means an extremely unfriendly risk exposure for public investors: ·Opaque governance structure: decision-making process remains a mystery, team/investor release terms are opaque, overvalued financing overdraws future growth potential Jocy stated that he believes the Pump.fun team has neither the willingness nor the ability to 'pull' or 'control' the market. They have already gained huge wealth through transaction fees, and this ICO is more like the final 'Exit Liquidity'. In the current market environment where buying is severely lacking, it is simply impossible to support such a high valuation. This is completely different from the valuation support logic of Hyperliquid. Jocy believes that this market public fundraising is a highly speculative gamble, rather than a fundamental investment. The invested funds should be risk capital that can be completely lost. The market has shown signs of fatigue towards the growth potential of Meme launch platforms and altcoins. Investors are advised to wait for the token to trade in the public market for a week before making a decision and observing the real market reaction.