cryptojournalist
Pump.fun, a memecoin platform on Solana, hit a high of $33 million in weekly revenue but crashed to $11 million after a major controversy.
Livestream Issues Cause Chaos
The platform faced backlash when users misused its livestream feature, threatening violence and self-harm to promote tokens. After multiple alarming incidents, including threats against animals and schools, Pump.fun disabled livestreams on Nov. 25.
A Call to Clean Up
Social media erupted with calls for action after one user reportedly threatened suicide live. Pump.fun announced it would pause livestreams indefinitely and work on better moderation.
Legal Trouble Ahead?
Experts warned Pump.fun might face lawsuits or criminal investigations. Some believe authorities could shut the platform down entirely.
