X, under the leadership of Elon Musk, has decided to suspend the official accounts of Pump.fun and its founder Alon Cohen. Along with these, over 20 accounts are suspended due to their involvement in memecoins and speculative practices.
Pump.fun suspended on X: a significant blow for the bull and bear crypto world
The action of X has led to the closure of numerous profiles belonging to platforms and operators in the cryptocurrency market, particularly memecoin. In addition to Pump.fun and its founder Alon Cohen, accounts of well-known trading platforms such as GMGN, BullX, and Bloom Trading have been suspended. AI-based tools like Eliza OS have also been included in the operation, as shown in the complete list compiled by user X Otto:
IT’S NOT JUST PUMP FUN! šØ
Major CT suspensions (Ongoing Tracker)
Here’s what weāve got so far šš¼
GMGN-Linked Accounts@gmgnai @haze0x ā Founder@arthur_gmgn ā Co-founder@Ga__ke ā Affiliate (?)@brc20niubi ā Affiliate@Wolfy_XBT ā Affiliate@0xcryptowizard ā Affiliateā¦ pic.twitter.com/u5WbYP3rJD
ā Ćttoā”ļø (@0xottoman) June 16, 2025
This measure has made it clear the extent of the impact, as many of these services used X as the main channel to communicate and interact with users interested in the crypto sector.
Lack of official clarifications on the motivations
X has not provided detailed explanations regarding the reasons for the suspensions. The official statement simply stated that it āsuspends accounts that violate the platformās rules.ā However, many of the hypotheses converge on technical and regulatory issues internal to the platform itself.
One of the most accredited scenarios involves the unauthorized use of third-party APIs, the programs that allow automated interaction with the platform. X has banned the use of such APIs since January 2023, imposing high costs for official access. Some believe that the suspensions stem from attempts to circumvent these restrictions or the payment of official streams.
Pump.fun and the Controversial Speculation of Memecoins
The case of Pump.fun is particularly significant. This service gained notoriety for the creation and dissemination of memecoins, which are tokens often characterized by high speculation and extreme volatility. The function of Pump.fun facilitated the rapid creation of these tokens, attracted investors, and consequently moved large volumes of money.
Despite gaining approval in environments dedicated to new digital currencies, Pump.fun has been accused of contributing to pump-and-dump schemes. These are speculative operations where the price of an asset is artificially inflated and then quickly sold for profit, harming those who invest subsequently.
Accusations and legal actions
Last January, a class action lawsuit accused Pump.fun of producing tokens without real intrinsic value, generating approximately 500 million dollars in fees. This impressive figure highlights the economic impact of the service, but also the critical issues related to transparency and investor protection.
The decision by X to suspend the accounts of Pump.fun and its co-founders can therefore also be interpreted as a move against practices considered unethical and potentially harmful to the reputation of the crypto sector.
Implications and reactions of the crypto sector
The suspension of these accounts has created concern among operators in the crypto world, who see X as a strategic channel to promote products, tools, and inform their community. Consequently, the closure of these profiles represents a significant limitation to direct communication with users.
However, the action of X could also encourage greater regulation of crypto services, pushing platforms and users towards greater transparency and reliability. The sector must face increasingly stringent compliance and security challenges, and the control of communication channels is part of this dynamic.
The future of crypto channels on X
The FAQs about the future of crypto communications on the platform remain open. It would be desirable for X to further clarify the rules and support the entities that operate in compliance with the regulations. Otherwise, the risk is that many spaces for interaction and information will move elsewhere, weakening the bond between crypto operators and end users.
Furthermore, the sector will have to adapt to more precise rules on the use of APIs and automated tools, balancing innovation and investor protection.
A turning point for the crypto sector on X
The suspensions carried out by X mark a turning point. On one hand, they reflect the platformās growing commitment to maintaining control and compliance among the accounts using its services. On the other hand, they highlight the complexity of the crypto sector, still searching for a balance between innovation, speculation, and legality.
The Pump.fun case represents an emblematic example, with all the economic and legal implications that derive from it. On the other hand, the reaction of the operators shows that communication with the public and the adoption of authorized technologies remain crucial for sustainable growth.
Consequently, it is essential that social platforms and crypto operators find more transparent and structured ways of collaboration. Only in this way will it be possible to reconcile development and rules, strengthening the trust of investors and users.
Towards a more transparent and responsible crypto ecosystem
In summary, the action of X raises important questions about the future of cryptocurrencies and their digital regulation. This opens up new perspectives for a crypto sector more attentive to legal risks and ethical practices.
For the operators, the message is clear: it is necessary to adopt innovative yet compliant strategies, leveraging official and transparent tools. For the investors, it becomes essential to adequately inform themselves about the risks associated with digital assets like memecoin.
The journey has just begun, but the trend towards greater responsibility now seems unstoppable.