Pump.fun’s Mysterious X Account Situation Rattles Crypto Community
On June 16, the crypto world was caught off guard when pump.fun’s official X account vanished without a trace. This Solana-based memecoin launchpad’s sudden disappearance raised eyebrows. Oddly, its co-founder Alon Cohen’s personal X handle also went missing.
It didn’t stop there. Several high-profile token platforms like GMGN, Bloom Trading, and ElizaOS faced similar fates, leading to wild theories. Was this X’s new policy in action, or a shadowban? Or worse, regulatory pressure mounting on Solana’s memecoin scene?
Less than 24 hours later, the accounts were quietly restored. X remained mum about the incident,leaving traders puzzled. Was it a glitch or a cryptic warning?
- Suspension left traders questioning crypto’s stability.
- accounts were unexpectedly restored, with no explanation.
- Incident exposed crypto’s dependence on social platforms.
The situation escalated as Pump.fun was prepping for a massive $1 billion token offering. The platform, founded in January 2024, has facilitated over six million token launches and generated $350 million in revenue. However, it has also faced scrutiny, notably disabling its livestream feature due to misuse.
This episode highlights the crypto industry’s ongoing struggle. Social media platforms have become crucial battlegrounds in the fight between innovation and regulation, with billions at stake. As Pump.fun proves, the rules of engagement are constantly evolving.
