PANews reported on December 2, according to Cointelegraph, that the meme coin launch platform Pump.fun on the Solana chain saw its weekly revenue plummet by 66% after the live streaming controversy. Data from DefiLlama shows that Pump.fun's revenue peaked at $33.83 million from November 18 to 24, but rapidly declined to $11.31 million from November 25 to December 1.
The main reason for the decline in revenue is the community's request for the platform to disable the live streaming feature, as some users engaged in dangerous behaviors during live streams in an attempt to drive up the price of their tokens. On November 25, a user threatened self-harm during a live stream if their token's market value did not reach a target, which sparked strong criticism. Additionally, some users were accused of threatening violent actions, such as harming animals or school shootings. In light of the controversy, Pump.fun announced on November 25 that it would suspend the live streaming feature and stated it would improve content review before resuming. Experts have pointed out that this incident could lead to criminal investigations or civil lawsuits, posing a potential threat to the platform's long-term operation.