Pump.fun Faces Backlash Over Livestream Misuse

Pump.enjoyable, a platform enabling swift creation of meme cash, is beneath hearth for its livestream function, which has sparked severe controversies. Initially meant to assist builders promote their tasks, the function has been misused for excessive content material and monetary fraud, drawing requires its removing.
The state of affairs escalated when a livestream featured a person threatening self-harm if their coin failed to achieve a $25 million market cap. Different cases included customers threatening hurt to pets or individuals over unmet capitalization objectives. In a single alarming case, a consumer livestreamed a self-harm menace tied to their cryptocurrency’s efficiency, prompting widespread condemnation.
Beau, a security supervisor at Pudgy Penguins, criticized the platform: “Shut down the livestream function. That is uncontrolled.”
Monetary scams are one other challenge. One incident concerned a pupil who created the meme coin $QUANT, pocketed $30,000 in a rug pull, and was later doxxed.
Group members are divided on the answer. Some advocate disabling livestreams completely, whereas others counsel stricter moderation. Eddie, a authorized intern, criticized the governance, saying, “The content material shared on pump livestreams in the meanwhile are usually not solely uninteresting, however conceptually lazy.”
Pump.enjoyable govt Alon defended the platform, citing ongoing moderation efforts however admitted challenges in scaling. Regardless of controversies, Pump.enjoyable has generated $215 million in income since March 2024 and deployed 3.8 million meme cash, based on DefiLlama.
The platform’s future will depend on balancing consumer freedom with stronger safeguards to guard its integrity and group.