Solana memecoin launchpad Pump.fun saw its weekly revenue drop after disabling its live streaming feature following reports of harmful content being broadcast.
Solana Meme Coin Generator profits have been on the rise since November and peaked in the fourth week.
According to DefiLlama data from November 18th to 24th, the memecoin launchpad generated $33.83 million in revenue for the week. This is an increase of 60% compared to the previous week and approximately 400% compared to the beginning of this month.
This is the weekly profit chart for Pump.fun. Source: DefiLlama
However, from November 25 to December 1, platform revenue decreased significantly. DefiLlama data shows it posted $11.31 million in revenue this week, reversing its upward trend. This figure represents a 66% decline compared to last week.
The decline in revenue comes as community members requested the platform to disable its live streaming feature as some users began performing harmful acts to pump out new tokens.
relevant: Pump.fun teases future tokens and unveils new trading terminal
Pump.fun live stream faced backlash.
On November 25, Pudgy Penguins safety project manager Beau reported that there was a user on the live stream threatening to commit suicide if the coin did not reach a certain market cap. Safety experts tagged Pump.fun in X, urging the platform to intervene, disable the stream and provide support to the streamer.
Other social media users have reported similar behavior of users threatening viewers to commit violent acts. One
Due to the increase in violent content, the Pump.fun team has discontinued the live streaming feature. The platform acknowledged in a community note on November 25 that shocking incidents that occurred on the livestream “raised concerns.” It added that the feature has been paused indefinitely until the stream can be adjusted appropriately.
Yuriy Brisov, partner at Digital and Analogue Partners, previously told Cointelegraph that the recent Pump.fun incident was “justifiable cause for a criminal investigation and civil lawsuit.”
Meanwhile, Mikko Ohtamaa, co-founder of trading firm Trading Strategy, told
magazine: Dragon Ball, Web3 game from One Piece studio, Sun is the top Trump cryptocurrency holder: Asia Express