Pump.fun’s official X account and that of its co‑founder Alon Cohen have been suspended by X as part of a broader enforcement effort targeting numerous memecoin‑related accounts, according to platform observers. The action, which began on 16 June, affected dozens of handles tied to Solana‑based crypto tools—including GMGN, Bloom Trading, BullX, ElizaOS—and coincided with growing concern over platform manipulation, unauthorised data access and regulatory rumblings.
The affected accounts were removed around 19:30 UTC on 16 June, leaving followers unable to access official communications. Platforms such as GMGN and Bloom Trading also noted unexplained suspensions, prompting speculation about an “internal enforcement sweep” rather than mass reporting. Notably, X has not issued any formal explanation of policy breaches or rule changes that prompted the action.
Some within the crypto community suggest the crackdown may stem from unauthorised use of X’s API infrastructure. Observers point to tools linked to Pump.fun and others that scrape tweet data or emulate automated trading without premium API access—activities that could trigger platform enforcement. However, neither X nor any of the suspended entities have confirmed such allegations.
The broader context involves mounting regulatory and ethical pressures on the Solana‑based memecoin ecosystem. Pump.fun, launched in January 2024 by Alon Cohen, Noah Tweedale and Dylan Kerler, has been prolific in facilitating meme token launches—over 6 million coins had been created via the platform by early 2025, according to Wired. But token launches have grown increasingly controversial. A livestreaming feature, later suspended, was tied to extreme promotional tactics, including staged threats of suicide or violence during broadcasts.
Earlier this year, the platform faced a class‑action lawsuit in New York alleging it operated as an unregistered securities offering and facilitated pump‑and‑dump schemes, notably involving a token called PNUT. This suit highlights regulators’ concerns that Pump.fun may operate in a legal grey zone. In addition, the UK Financial Conduct Authority warned the platform in late 2024 about offering unlicensed financial services.
Market data following the suspensions reveals immediate ripples: within an hour of X account removals, new tokens referencing the bans flooded Pump.fun, generating over US $10 million in volume. Five such suspension‑themed tokens ranked among the top‑ten daily by trading volume.
Crypto traders and observers are divided. Some see the suspensions as overdue intervention against manipulative tools; others raise concerns about opaque enforcement and potential overreach. Affected platforms, such as GMGN, have assured users that operations remain intact while formal appeals with X are underway.
Technical analysis indicates this episode is unlikely to halt memecoin activity. Indeed, pump‑and‑dump cycles continue: behavioural studies show short‑term spikes in token value followed by longer‑term declines averaging 30 per cent over 12 months. In the absence of clear regulation or platform transparency, speculative launches keep drawing liquidity.
Arabian Post – Crypto News Network
