Pump.fun reinstates livestream feature for limited users

Solana-based (CRYPTO:SOL) memecoin platform Pump.fun has reintroduced its livestream feature to 5% of users, five months after suspending it due to widespread misuse and harmful content.

Alon Cohen, the platform's co-founder, announced the return on April 4, emphasising that new "industry standard moderation systems" and transparent guidelines are now in place.

Pump.fun’s updated moderation policy aims to foster a creative and engaging environment while preventing illegal or harmful interactions.

It explicitly bans content such as violence, animal abuse, pornography, and youth endangerment.

However, the policy acknowledges ambiguity in defining "appropriate" content, stating that much of the platform’s material may still fall under the "not safe for work" (NSFW) category.

The platform retains unilateral authority to determine and moderate content as necessary.

The livestream feature was initially suspended in November 2024 after incidents involving extreme content.

Users reportedly engaged in alarming stunts, including threats of violence and self-harm tied to token price goals.

Mikko Ohtamaa, co-founder of Trading Strategy, warned at the time that without proper moderation, Pump.fun risked shutdown due to legal and public backlash.

“Freedom of speech is important, but these streams are crossing legal boundaries,” Ohtamaa said.

The reinstatement of livestreaming comes as memecoin interest has significantly declined.

High-profile scandals like rug pulls involving Libra (CRYPTO:LIBRA) and Melania Meme (CRYPTO:MELANIA), coupled with poor performance of tokens like Official Trump (CRYPTO:TRUMP), have contributed to waning enthusiasm.

Data from Dune Analytics shows a sharp drop in tokens launched on Pump.fun, with weekly graduations from the platform falling from 5,400 in January to under 1,500 by March.

The broader memecoin market has also contracted, with Solana network token launches dropping from a peak of 95,578 in January to just 31,651 on April 5.

Despite these challenges, Pump.fun’s leadership remains optimistic about the platform's future while navigating the complexities of decentralised moderation.