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.
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