On February 9th, the encrypted KOL He Bi (@hebi555) posted on X, saying: "The known news about pump.fun is publicly offered on major exchanges, and it is said to be the Dutch auction model. It was originally exclusive to a certain exchange, because Compliance with a certain exchange has been cancelled and has now been changed to public offerings on multiple exchanges. Because the projects are huge and there are many requirements, the current public offering systems of major exchanges do not meet the needs of pump.fun. Major exchanges are customizing and developing public offering programs for pump.fun. However, it was still full of variables before the end. Pump.fun also faced class action lawsuits in the United States, and felt that the coins would be issued only after the lawsuit was over. "