Pump.Fun Revenue Falls 33% Due to Live Streaming Controversy

Solana-based memecoin platform Pump.Fun suffered a dramatic 33% drop in revenue after discontinuing its controversial livestreaming features. The decision followed a bizarre incident in which a user staged a fake suicide during a live broadcast to promote his memecoin.

However, the marketing move backfired spectacularly, dropping Pump.Fun’s daily revenue from $5 million in a single day to $3.6 million, according to DeFiLIma data.

Harmful content on Pump .Fun

Originally, Pump.Fun’s livestreams were a magnet for viral stunts and over-the-top celebrations. This includes a middle school student flaunting $30,000 from a controversial carpet heist.

However, the fake suicide incident sparked a firestorm of backlash that forced Pump.Fun to shut down its live streaming service and led users to question the platform’s ethical boundaries.

Since its inception, Pump.Fun has generated $230 million in revenue. However, some analysts warned that the uncontrolled chaos on the platform may have finally caught up with the platform. Competitors on rival platforms like Base are already eyeing disillusioned users.

Recent incidents have raised fears about the dangers of the unregulated memecoin market, which often lacks protection from illegal practices and harmful content. While Pump.Fun’s live streaming features initially increased popularity through viral moments, they also exposed major vulnerabilities.

Also Read: Solana-based Pump.fun Disables Livestream Feature After Backlash