Pump.Fun is a popular Solana memecoin launcher, which allows users to create any meme-themed cryptocurrency in minutes. With this, it has become one of the fastest growing crypto projects. It has launched millions of tokens and generated over $215 million in revenue, representing its popularity in the market. However, netizens constantly criticize it for overloading the crypto space with worthless tokens. Worryingly, criticism has further intensified due to its failure to police explicit content.
Pump.Fun users threaten to boycott disturbing content
With the crypto platform and Solana Coins popularity, the team introduced a live streaming feature a few months ago. This was to allow users to promote their tokens to a wide audience. However, Pump.Fun has become the medium for distributing explicit content. This includes posting content that includes threats, violence, animal abuse and even suicide, pornography and other similar disturbing content.
One such content sparks the need for immediate action, as the 12-year-old live streamer threatened to kill his family. He claimed he would kill them with a shotgun if his token didn’t reach the market cap of 60,000. Another user shared another concerning story, in which a live streamer couple hit their 3-year-old child. month every four minutes to increase the market capitalization of their tokens to 15,000.
Regardless, there is no end to these videos and other illicit content being shared via the live streaming feature. Although many still use it for its intended purpose, promoting their tokens, the exploitation and dangerous acts have disgusted users, prompting them to post boycott threats.
Pump Fun must disable live streams immediately.
Instant financial gratification in exchange for obscenities led to some truly disgusting results
I would sincerely advise PF to disable their live streaming functionality until they can enable moderation. The content broadcast… pic.twitter.com/RQhduYMeCG
-Eddie 🕺 (@DancingEddie_) November 22, 2024
Will it be banned in the United States?
Pump.Fun’s problems are not limited to content, as crypto scams are also increasing on the platform. Earlier, a Genz kid scammed people with a rug pull scam in the QUANT token on the stream. More importantly, he created two more tokens again and did the same to make a profit. Many similar cases are easily heard about this platform, leading Beau, a security project manager at Pudgy Penguins, to demand that live streaming be stopped. Hundreds of others are also supportive, collectively calling for Pump.Fun to be banned.
The US government is taking tougher action against crypto scams. Even the FBI Busted Crypto Scam after throwing a fake token, denoting their seriousness about it. With many similar strict measures, the DoJ has put fraudsters on notice for their future. Moreover, with the victory of Donald Trump in the US elections, a clear picture of crypto rules and regulations will be visible in the coming months, the impact of which will also be visible in crypto scam bans. For now, there are only rumors regarding the Pump. Funny ban, but nothing is proven.
Additionally, Pump .fun executive Alon defended the platform in a November 23 X post, saying they actively moderate content on the platform and work to prevent bad actors from misuse it.
With the live streaming meta in full force, many people have raised very legitimate concerns about the content allowed on the platform.
Let me be very clear: we actively moderate illegal content on the site. This includes…
– alone (@a1lon9) November 22, 2024
However, he also mentioned that they agreed with freedom of speech and expression before asking people to mark pornographic content with the “include NSFW” toggle like they do on X and Reddit to block these parts and contents. Regardless, Pump.Fun is in big trouble with the increase in crypto scams and explicit content, which could affect its future, especially in terms of legal issues.
Pooja Khardia
With a deep-rooted passion for reading and five years of experience in content writing, Pooja is now focused on creating trending content in the cryptocurrency market. As a dedicated crypto journalist, Pooja is constantly on the lookout for trending topics and informative statistics to create compelling articles for crypto enthusiasts. Keeping up with the latest trends and advances in the field is an integral part of his daily routine, fueling his commitment to providing timely and insightful coverage.
Disclaimer: Content presented may include the author’s personal opinion and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
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