Solana-based memecoin launchpad Pump.fun experienced a sharp decline in weekly revenue after suspending its livestream feature due to reports of disturbing content being broadcast.
The platform saw its revenue steadily increase throughout November, reaching a peak during the fourth week. Data from DefiLlama shows that from Nov. 18 to Nov. 24, Pump.fun generated an impressive $33.83 million in weekly revenue—marking a 60% rise compared to the prior week and a staggering 400% growth since the start of the month.
However, the upward momentum came to an abrupt halt. Between Nov. 25 and Dec. 1, the launchpad’s revenue plummeted to $11.31 million, reflecting a 66% decline from the previous week.
The drop coincided with mounting calls from the community to disable the livestream feature, which some users reportedly exploited for harmful stunts aimed at boosting the value of their tokens.
Livestream Abuse Sparks Concern
On Nov. 25, Beau, a safety manager from Pudgy Penguins, flagged a particularly alarming incident: a livestream user threatened to take their own life if their token didn’t hit a specified market cap. Tagging Pump.fun on X, Beau urged the platform to intervene, disable the stream, and provide assistance to the user in distress.
Other reports quickly surfaced, highlighting further cases of users allegedly engaging in violent threats. One X user claimed a streamer threatened to harm a dog, while another reported a user making threats to commit a school shooting.
In response, Pump.fun halted its livestream feature indefinitely, issuing a community statement the same day. The platform acknowledged the “disturbing events” and assured users that the feature would remain paused until proper moderation measures were implemented.
Legal and Regulatory Risks
Yuriy Brisov, a partner at Digital and Analogue Partners, described the situation as a potential trigger for criminal investigations and civil litigation. Similarly, Mikko Ohtamaa, co-founder of Trading Strategy, speculated on X that the platform could face swift action from law enforcement or eventual shutdown by regulators.
As the controversy unfolds, Pump.fun’s future remains uncertain, with its once-rising fortunes now clouded by significant challenges.
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