Pump.fun, a popular Solana-based memecoin launchpad, has suspended its livestream feature following a weekend marked by controversial content and record-breaking revenue. The platform took action on Monday afternoon after multiple instances of disturbing livestreams sparked widespread criticism across social media.
The decision came after the platform achieved its highest single-day revenue of $14.3 million on Saturday, according to the platform’s dashboard. This figure represented more than triple its previous record, highlighting the platform’s rapid growth and increasing challenges with content moderation.
The controversial content that led to the suspension included streams where token launchers made threats of violence tied to token prices. In one particularly troubling incident, a user threatened harm to their dog unless a specific token’s market capitalization increased, prompting immediate removal by the platform’s moderators.
The platform’s anonymous founder, known as “alon,” addressed the situation through multiple communications. They confirmed the removal of “hundreds of streams” and stated their commitment to protecting users from “repulsive/dangerous content.” The decision to completely disable the livestream feature came around 2:00 p.m.
on Monday. Pump.fun has historically maintained a relatively hands-off approach to content moderation, drawing comparisons to the anonymous forum site 4chan. Before the current crisis, the platform hosted various controversial content, including racially insensitive material and adult content, without strict moderation policies.
In a blog post explaining the livestream suspension, the platform cited “unprecedented growth” as the primary factor complicating their content moderation efforts. The statement indicated that the suspension would last for “an indefinite time period,” leaving users uncertain about the feature’s future.
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<p>The post Pump.Fun Suspends Livestreams Amid Controversy and Record Revenue first appeared on CoinBuzzFeed.</p>
