What The HELL is Happening on Pump.Fun?
The Solana meme coin creation platform Pump.fun has become a literal Black Mirror episode amid the viral dark streaming meme coin trend. We covered all the heinous, disturbing activity on Pump.fun last week, and believed it might get banned before 2025. At this rate, it’ll probably get banned this week.
Disturbing trends have become ubiquitous on Pump. Fun’s live stream feature raises serious questions about moderation, safety, and ethics in the crypto community. From threats of self-harm to graphic and illicit content, the platform is in the spotlight for all the wrong reasons.
But it is all free speech and decentralization – so what should happen next?
CONTENT WARNING AHEAD
Pump.fun: Self-Harm Threats and a Live Suicide
Pump.fun’s live-streaming functionality, created to add dynamic interactivity to token creation, has recently been abused in alarming ways. One of the most troubling incidents involved a user who threatened to harm themselves if their token didn’t hit specific price targets.
There’s also a person who allegedly has already killed themselves.
the pumpfun trenches has become a social experiment.
how far will ppl push the envelope for money? pic.twitter.com/STLE7PC3n8
— MAJESTIC (@MajesticDrama) November 25, 2024
None of this is an isolated incident, either. Another user reportedly threatened to shoot their pet dog over unmet financial expectations tied to their token.
Similar disturbing episodes have surfaced, highlighting the darker side of crypto’s high-stakes, hype-driven culture.
The controversy quickly drew attention to Pump.fun’s moderation policies—or lack thereof. Founder Alon acknowledged the challenges of content moderation, particularly given the platform’s rapid growth.
“We actively moderate illicit content, but our moderation isn’t perfect,” he stated in a tweet.
While he emphasized that a dedicated team works around the clock to remove harmful content, critics say the effort falls short. Pump.fun, which facilitates nearly half of all Solana transactions, has seen over $3.9 billion in trading volumes over the past two weeks, with thousands of tokens launching daily. This makes effective moderation a logistical nightmare.
Experts fear unregulated platforms like Pump.fun could face scrutiny from national and international regulators, particularly if content tied to meme coins violates legal or ethical standards. Comparing this to the era of unregulated ICOs, Ryan Watkins, co-founder of Syncracy Capital, noted:
“These grassroots developer experiments were often layered with serious issues, but Pump.fun brings a new level of content-related concerns.”
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Solana Meme Coins Are a Free Space: But Should All of This Be Allowed Under Free Speech?
PumpFun didn’t create evil—it simply unleashed what was already within people. So are most of the crypto technologies. pic.twitter.com/Gd1yzQN7iV
— Conan TITW 🏴☠️👹❤️ Memecoin (@thisisconan) November 25, 2024
Is threatening to kill your dog or shooting a gun outside your window every time your coin pumps the future of finance?
For now, in 2024, it seems the answer is yes.. but ostensibly not for long.
Pump.fun opened the floodgates for anyone with an internet connection and a dream to mint their own memecoin. But like any bold experiment in democratization, it quickly revealed the darker side of letting everyone play in the sandbox.
It’s sad watching people degrade themselves for money, yet perhaps worse is that every single Solana Pump.fun shitcoin has rugged over the last week.
While Pump.fun’s success underscores the explosive popularity of meme coins, it’s clear that some guardrails are urgently needed. Calls for better moderation, stricter adherence to ethical guidelines, and thoughtful regulation are growing louder. Nobody wants to watch someone kill themselves.
Dark places on the internet should be allowed. It’s no secret 4chan has created modern internet culture.
But in terms of an investible product, no one will touch Pump.It’s fun if it doesn’t have some basic rules like not killing yourself for a Livestream meme coin.
Are we asking too much here?
For now, Pump.fun faces a crossroads. Will it take accountability for the chaos its platform has enabled, or will regulators step in and force change?
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