Cryptocurrency market data platforms like CoinMarketCap or CoinGecko

Pump.fun Faces Backlash Over Harmful Live Streams as Users Threaten Self-Harm

Nov 25, 2024, 04:16 AM

Pump.fun, a platform that allows users to launch their own tokens and live-stream content, is facing significant backlash from the cryptocurrency community due to alarming and potentially illegal activities being broadcast on its live streams. Users have been engaging in harmful and violent behavior, including threats of self-harm, in an attempt to influence token market capitalizations. Examples include locking themselves in cages, sleeping in toilets, and barking like dogs until their tokens reach certain market caps. The community is calling for the platform to shut down or moderate the live-streaming feature to prevent further harm and negative regulatory attention. Concerns are rising that without immediate action from the platform's founder, who has profited significantly, the situation could lead to government intervention or legal consequences, negatively impacting the broader cryptocurrency space.