Crypto's Wild Ride: Is the Old-School Fundraising Back?

Crypto has always been a rollercoaster, and the latest twist is a big one. Pump. fun, a site where anyone can create and buy memecoins, just raised a whopping $600 million in just 12 minutes. That's not all—it also raised $720 million through private sales, making its total haul around $1. 3 billion. This is a huge deal, especially since it's one of the largest crypto fundraises in 2025. What makes this even more interesting is how Pump. fun did it. Unlike the past few years, where only wealthy investors could get in on the action, Pump. fun let almost anyone participate in the public sale. This is a throwback to the early days of crypto, when anyone could launch their own cryptocurrency and raise millions. Those were the days of initial coin offerings, or ICOs, which led to some big successes but also a lot of scams. So, is this the return of ICOs? It's hard to say. The crypto world has changed a lot since then. Back in the day, companies like Ethereum raised millions through ICOs, but many others turned out to be scams. The Securities and Exchange Commission (SEC) cracked down, forcing some companies to return the money they raised.Now, the regulatory climate seems to be shifting again. Under former President Joe Biden, the SEC was tough on crypto, but things have eased up a bit. This has given crypto companies more room to experiment with different ways of raising money. Pump. fun's success is a sign that the old ways might be making a comeback. But not everyone is convinced. Some people worry that history might repeat itself, and we could see more scams and problematic offerings. Others argue that this time is different. Pump. fun, for example, has already generated nearly $800 million in revenue, which shows it's a real project. Plus, both public and private investors got the same financial terms, making the process fairer. Still, the crypto world is full of surprises. What seems like a good idea today could turn bad tomorrow. The key is to stay cautious and keep an eye on how things develop. After all, in crypto, anything can happen.