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Pump.fun, a launchpad for meme coins, achieved $78 million in revenue for November, which accounts for 35% of its total earnings since its launch.
As per data published by DefiLlama, the platform experienced a notable increase in user engagement and transaction activity, resulting in its highest monthly revenue to date. As of the current writing, Pump.fun has recorded $78.28 million since November 1, 2024.
Pump.fun Suspends Livestream Feature
The Solana-based platform has temporarily disabled its livestreaming service following reports of inappropriate user-generated content. The platform indicated that the feature will remain inactive until enhanced moderation tools are put in place.
The livestreaming capability, which was introduced in August, was initially intended for users to express their reactions to fluctuations in token prices. However, it soon became a venue for concerning content, raising alarms within the community.
Numerous broadcasts displayed troubling behavior, including threats of violence and self-harm. In one instance, a user allegedly threatened to harm their pet if their meme coin did not achieve a certain market capitalization.
Pump.fun recognized the problem and detailed its plans to strengthen its moderation systems. The platform also committed to greater transparency in its content moderation processes to help users comprehend enforcement actions.
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CZ Comments on Meme Coins
Changpeng “CZ” Zhao, co-founder and former CEO of Binance, has previously expressed his views on meme coins, differentiating them from cryptocurrencies that support genuine infrastructures and applications.
I am not against memes, but meme coins are getting “a little” weird now.
Let’s build real applications using blockchain.— CZ
BNB (@cz_binance) November 26, 2024
Zhao stated, “I am not against memes, but meme coins are getting ‘a little’ weird now. Let’s build real applications using blockchain.”
“I am not trying to put an end to anything. Everyone has their choice regarding what to invest in or hold. I am simply encouraging more builders,” Zhao clarified.
CZ recently cautioned against exploiters targeting macOS and iPhone users, noting that devices with Intel chips may have significant vulnerabilities that could enable attackers to execute unauthorized code and perform cross-site scripting attacks by taking advantage of sensitive web content.
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