- Solana-based Pump.fun’s revenue fell by 66% after disabling its livestream feature over harmful content concerns.
- Weekly earnings peaked at $33.83 million before dropping to $11.31 million in just one week.
- The platform suspended livestreams following reports of violent threats and harmful behavior by users during broadcasts.
Pump.fun, a memecoin launchpad operating on the Solana network, experienced a sharp revenue decline after halting its livestream feature due to concerns about harmful user content. DefiLlama reported that the platform’s weekly revenue surged to $33.83 million from November 18 to November 24, marking a 60% increase from the prior week and a near 400% rise since the beginning of November.
However, the earnings dropped significantly the following week, with the platform generating only $11.31 million from November 25 to December 1. The 66% drop coincided with the removal of its livestreaming option, a decision prompted by growing backlash over inappropriate and harmful content streamed by some users.
Livestream Suspension Sparks Debate
Concerns escalated when reports surfaced of livestream participants threatening self-harm and violence as tactics to promote their newly created tokens. One incident involved a streamer reportedly threatening suicide if their token failed to meet a specific market value. Additionally, other reports included threats of harm to animals and mentions of violent actions.
In response to the situation, Pump.fun announced on November 25 that it had suspended the livestream feature indefinitely. Acknowledging the severity of the incidents, the platform said the suspension would allow time to implement improved moderation measures.
Legal experts, including Yuriy Brisov from Digital and Analogue Partners, highlighted the potential for criminal investigations and lawsuits linked to the platform’s content. Meanwhile, Mikko Ohtamaa, co-founder of Trading Strategy, suggested that Pump.fun could face either immediate shutdown by authorities or eventual closure as regulators scrutinize the situation.
