Pump.fun is reportedly planning a public sale with a target valuation of $5 billion, according to Velocity Capital investor DeFi Cheetah. The sale aims to raise $800 million, with an additional $200 million allocated for venture capitalists. Unlike previous expectations, there will be no airdrop, but a whitelist will be set for the public sale. The sale is expected to take place on major centralized exchanges, which are currently preparing for the event. This follows earlier reports suggesting a $1 billion raise at a $4 billion valuation.