PANews reported on December 2 that according to Cointelegraph, the weekly revenue of Pump.fun, a meme coin startup platform on the Solana chain, plummeted 66% after experiencing a live broadcast controversy. According to DefiLlama data, Pump.fun's revenue peaked at $33.83 million between November 18 and 24, but quickly fell to $11.31 million between November 25 and December 1.
The main reason for the decline in revenue is that the community asked the platform to disable the live broadcast function because some users performed dangerous behaviors in the live broadcast in an attempt to drive the price of its tokens. On November 25, a user threatened to commit self-harm if the market value of his token did not reach the target during the live broadcast, which aroused strong criticism. In addition, some users were accused of threatening violent acts such as harming animals or school shootings. Faced with controversy, Pump.fun announced on November 25 that it would suspend the live broadcast function and said it would resume it after improving the content review. Some experts pointed out that this incident may trigger criminal investigations or civil lawsuits and pose a potential threat to the long-term operation of the platform.
