Solana Meme Coin Platform Pump.Fun Faces Backlash Over Scandalous Livestreams, But Polymarket Traders Aren't Convinced It'll Go Dark

Pump.fun, a decentralized platform for creating Solana SOL/USD-based meme coins, has come under intense scrutiny after reports of harmful and violent behavior surfaced on its livestream feature.

What Happened: The platform, which has gained popularity in the crypto space, is now facing backlash from the community, with many calling for the livestream function to be disabled altogether until proper moderation tools are in place.

Concerns about the platform escalated on Nov. 25 when a user livestreamed a disturbing incident.

Beau, a Pudgy Penguins safety project manager, reported on X (formerly Twitter) that an individual on Pump.fun threatened suicide if their coin failed to reach a specific market capitalization.

Beau urged the platform to intervene immediately, disable the livestream and offer support to the individual.

Other alarming incidents include a user allegedly firing a gun out of a window each time their meme coin’s value increased, and a child threatening harm to family members if a token price goal wasn't met.

One of the most distressing reports involved a user claiming they would carry out a school shooting if their coin didn't pump.

Community members labeled the livestream feature a "pipeline of felonies," with many urging Pump.fun to shut it down until better safeguards are introduced.

The platform's livestream feature has become a flashpoint for criticism.

One X user commented, "Turning on a camera to showcase your own depravity to the world isn't noble or novel," emphasizing the need for immediate deactivation of the feature.

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Why It Matters: The concerns are reflected in Polymarket predictions, where users are actively betting on whether Pump.fun will disable its livestream feature by Friday.

The prediction market indicates only a 21% chance the livestream will be shut down by Friday, highlighting skepticism about the platform's ability to act swiftly in addressing these issues.

Alon, the pseudonymous leader of Pump.fun, defended the platform's moderation efforts while acknowledging the community's concerns.

"We have a large team of moderators working around the clock and an internal team of engineers dealing with increased scale," Alon said.

He stressed that moderation has been a priority since the platform's inception and assured users that harmful content is being addressed.

Despite these assurances, critics argue that Pump.fun's measures are insufficient given the severity of the incidents.

The community continues to demand more transparency and immediate action to prevent harmful broadcasts.

However, the platform has not disclosed specific plans for additional safeguards or changes to its livestream feature.

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