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<h4><strong>The platform allows users to create and launch <a href="https://www.altcoinbuzz.io/?s=memecoins" target="_blank" rel="noopener">memecoins</a>. It experienced a dramatic drop in revenue, going from $33 million in the week of Nov. 18-24 to just $11 million the following week.</strong></h4> 
<p>That’s a 66% drop, and it all started after some livestream users began broadcasting disturbing content.</p> 
<h5><strong>The Rise and Fall of Pump.fun’s Revenue</strong></h5> 
<p>Pump.fun’s revenue had been on the up and up in November. From Nov. 18th to Nov. 24th, the <a href="https://www.altcoinbuzz.io/?s=pumpfun" target="_blank" rel="noopener">platform</a> earned $33.83 million, marking a huge 60% increase compared to the week before and a nearly 400% increase from the beginning of the month. But by Nov. 25 to Dec. 1, things took a turn for the worse. Revenue dropped to just $11.31 million, signaling a sharp reversal.</p> 
<p>The trouble started when some livestream users began threatening harmful acts in an attempt to make their new tokens “pump” in value. On Nov. 25th, a safety manager from Pudgy Penguins, Beau, reported a disturbing incident where a user threatened suicide unless their coin hit a certain market cap. Other users also reported violent threats, including one person saying they would shoot a dog and another threatening to harm others.</p> 
<p><img decoding="async" class="wp-image-156831 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/12/cvxbvbnnmbjhjhk-300x120.png" alt="Pump.fun's Revenue Plummets 66% After Livestream Controversy" width="678" height="271" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/12/cvxbvbnnmbjhjhk-300x120.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/12/cvxbvbnnmbjhjhk-768x307.png 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/12/cvxbvbnnmbjhjhk-696x278.png 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/12/cvxbvbnnmbjhjhk.png 819w" sizes="(max-width: 678px) 100vw, 678px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://defillama.com/protocol/pump?volume=false&amp;fees=false&amp;revenue=true&amp;twitter=false&amp;groupBy=weekly#fees-revenue" target="_blank" rel="noopener">DeFiLlama</a></strong></h6> 
<p>These incidents raised major red flags, and social media users urged Pump.fun to take action. In response, the platform disabled its livestream feature. Pump.fun acknowledged the troubling content in a community message and announced it would pause live streams indefinitely while they worked on improving moderation.</p> 
<h5><strong>The Fallout</strong></h5> 
<p>The decision to disable live streams impacted Pump.fun’s revenue. Experts have weighed in on the situation, with some suggesting that it could lead to serious legal trouble. Yuriy Brisov, a partner at Digital and Analogue Partners, called the situation a “legitimate reason for a criminal investigation and civil lawsuits.”</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">This week on pump fun:</p> 
 <p>– Man pretending to be a dog<br> – Man sitting on a toilet and refusing to move until coin hits 25 million.<br> – Man threatening to shoot his dog if the coin doesn’t hit 1 million.<br> – Man threatening to hang himself if the coin doesn’t hit 1 million.<br> – Young…</p> 
 <p>— T.M.A (@Tma_420) <a href="https://twitter.com/Tma_420/status/1860884069661233360?ref_src=twsrc%5Etfw">November 25, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>Mikko Ohtamaa, a co-founder of Trading Strategy, also warned that Pump.fun might face a quick shutdown or could be forced to shut down years later once regulators fully understand the situation.</p> 
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<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/pump-funs-revenue-plummets-66-after-livestream-controversy/">Pump.fun’s Revenue Plummets 66% After Livestream Controversy</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

Pump.fun’s Revenue Plummets 66% After Livestream Controversy

Altcoin Buzz

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