Solana memecoin launchpad Pump.fun experienced a sharp decline in weekly revenue after disabling its livestream feature in response to reports of harmful content being broadcast. The platform had seen consistent growth in November, with revenues peaking during the fourth week of the month. From Nov. 18–24, Pump.fun generated $33.83 million in weekly revenue, according to DefiLlama. This marked a 60% increase compared to the previous week and an almost 400% surge from the start of November. However, the following week, Nov. 25 to Dec. 1, revenues dropped dramatically. DefiLlama data revealed a 66% decline to $11.31 million, reversing the prior growth trend. The revenue decline followed mounting community concerns over harmful actions being livestreamed by users attempting to boost their tokens’ popularity. Livestream Backlash On Nov. 25, Beau, safety project manager for Pudgy Penguins, reported a troubling incident where a livestreamer threatened suicide if their coin didn’t reach a specific market cap. Beau called on Pump.fun to intervene, urging the platform to disable its livestream feature and provide support to the individual. Other social media users reported similarly disturbing behavior. One user claimed a streamer threatened to harm a dog, while another alleged a threat of school violence. In response, Pump.fun disabled the livestream feature indefinitely. In a community note on Nov. 25, the platform acknowledged the concerns over the violent content and stated it had paused livestreams until proper moderation systems could be implemented. Industry Reactions Yuriy Brisov, a partner at Digital and Analogue Partners, called the incident “a legitimate reason for a criminal investigation and civil lawsuits.” Mikko Ohtamaa, co-founder of Trading Strategy, suggested Pump.fun might face swift police action or eventual regulatory shutdown as authorities assess the situation. Pump.fun’s revenue struggles reflect the broader challenges of managing unmoderated content in decentralized platforms.
