Pump.fun weekly revenue drops 66% after livestream controversy

Solana memecoin launchpad Pump.fun saw its weekly revenue drop after disabling its livestream feature in response to reports of harmful content being broadcast

The Solana memecoin generator’s revenue began November with an upward trajectory before it peaked in the fourth week

From Nov. 18–24, DefiLlama data shows the memecoin launchpad generated $33.83 million in revenue for the week. This represents a 60% increase compared to the previous week and an almost 400% increase compared to the start of the month

Pump.fun’s weekly revenue chart. Source: DefiLlama

However, from Nov. 25 to Dec. 1, the platform’s revenue dropped significantly. DefiLlama data shows it recorded a revenue of $11.31 million for the week, reversing its upward trend. The figure represents a 66% drop from the previous week

The decrease in revenue comes as community members called on the platform to disable their livestream feature, as some users started to perform harmful acts in hopes of pumping their new tokens

Related: Pump.fun teases future token and reveals new trading terminal

Pump.fun livestream faced backlash

On Nov. 25, Pudgy Penguins’ safety project manager Beau reported that there was a user in the livestream threatening to commit suicide if their coin didn’t reach a specific market cap. The safety professional tagged Pump.fun on X, urging the platform to intervene, disable the stream and provide support to the streamer

Other social media users reported similar acts of users allegedly threatening viewers about performing violent acts. An X user reported that a man was threatening to shoot a dog, while another said that a streamer was threatening to shoot up a school

In response to the increase in violent content, the Pump.fun team pulled the plug on its livestream feature. In a community note on Nov. 25, the platform acknowledged that disturbing events on its livestreams have “caused concern.” It added that it had paused the feature indefinitely until it could properly moderate the streams

Yuriy Brisov, a partner at Digital and Analogue Partners, previously told Cointelegraph that the recent Pump.fun debacle is “a legitimate reason for a criminal investigation and civil lawsuits.”

Meanwhile, Mikko Ohtamaa, co-founder of trading firm Trading Strategy, said on X that Pump.fun could either get shut down quickly by police or eventually closed down years after regulators can understand the situation

Magazine: Dragon Ball, One Piece studio’s Web3 game, Sun is top Trump crypto holder: Asia Express

• #Blockchain
• #Altcoin
• #Data
• #Solana
• #Memecoin Add reaction