And this time, it’s wearing the mask of crypto memecoins. Welcome to Pump.fun—a Solana-based platform where anything goes in the name of token virality.

From men locking themselves in toilets until their token hits a specific market cap, to grotesque animal cruelty and explicit content, the stunts are as varied as they are unsettling. The platform’s NSFW streams became a breeding ground for antics that seem straight out of an old-school internet fever dream—but is this really the next frontier for crypto culture?

Apparently not, as earlier today the platform paused their live stream option after a series of increasingly unhinged videos that threatened to attract lawmakers’ attention. 

Source: Pumpfun

The Numbers Game of Desperation

Pump.fun lets users mint tokens for as little as $2, with live-streamed performances acting as the marketing strategy. When tokens reach $69,000 in market cap, a portion of liquidity is burned, supposedly adding value. But for many creators, the price of chasing virality comes in the form of dignity—or worse, decency.

Case in point: viewers have reported everything from suicidal threats to actual gunfire in these streams. One viral stunt involved a man tied up and locked in a cage. Another saw hens being killed on camera. And let’s not forget the sexual undertones lurking in the softcore fetish streams.

But here’s the kicker: despite all the chaos, these dark-themed tokens are failing to capture significant market traction. Most hover below $50,000 in market cap—a pittance compared to Pump.fun’s more wholesome viral successes, which easily climb to $1 million or more within hours.

The Moderation Dilemma

To its credit, Pump.fun isn’t entirely lawless. Its moderation team worked to take down the worst content, from forearm slashing videos to blatant exploitation. The platform’s founder has publicly reinforced a commitment to “free speech with responsibility,” urging users to report malicious behavior. But in an environment where shock sells, it’s a game of digital whack-a-mole.

“Although we strongly stand for free speech and expression, it’s our responsibility to ensure that users don’t see clearly repulsive or dangerous content,” said the founder in a post on X (formerly Twitter). Admirable? Sure. Effective? Questionable.

Crypto’s Dirty Little Secret

Let’s address the elephant in the room: Pump.fun didn’t invent desperation-driven marketing. The crypto world has long thrived on hype, but this latest chapter feels like a race to the bottom. Crypto Twitter has largely condemned the antics, with no major influencers cheering on these shock campaigns. And maybe that’s a good thing.

Despite its darker corners, Pump.fun isn’t all bad. Some streams feature lighthearted or artistic content, like drawing contests or audience Q&A sessions. These examples prove that memecoins can still lean on humor and creativity without devolving into grotesque spectacles.

The Takeaway

The crypto ecosystem loves innovation, but what’s happening on Pump.fun feels less like the future of finance and more like a relic of internet immaturity. Sure, platforms like these will always attract their share of edgy creators, but when shock value overtakes substance, the industry risks losing credibility.

The question isn’t whether Pump.fun can clean up its act—it’s whether the crypto community will reward a platform that dares to walk this fine, unsettling line. For now, Pump.fun remains a cautionary tale about what happens when decentralization meets human desperation.

Troy Miller is a tech columnist with an eye for the absurd and a taste for the bold. When crypto goes wild, Troy’s there to call it out.