Social media platform X suspended over 20 cryptocurrency-related accounts in one operation, including the crypto meme coin platform Pump.fun and its founder Alon Cohen’s account. X did not disclose specific reasons, only stating that these accounts violated X’s rules. Other affected accounts include GMGN, BullX, Bloom Trading, and accounts related to the AI tool Eliza OS. X has long been a major social platform for cryptocurrency users, and the suspension of these accounts has significantly impacted communication between these platforms and their users. GMGN is actively appealing to restore its account. Some users speculate that the suspension might be related to the use of third-party APIs, which X has banned since January 2023. Pump.fun has been controversial for simplifying the meme coin creation process and has faced accusations of market manipulation and involvement in lawsuits concerning unregistered securities.

Social media platform X has suspended the accounts of crypto memecoin platform Pump.fun and its founder in an apparent blitz that saw dozens of crypto-related accounts temporarily banned on the site. On Monday, the X accounts for Pump.fun and its co-founder, Alon Cohen, showed they were suspended, but X did not explain why, showing only the platform’s standard disclaimer that “X suspends accounts which violate the X Rules.” At least 19 other accounts connected to the crypto trading platforms GMGN, BullX, Bloom Trading and the artificial intelligence agent tool Eliza OS were also taken offline, a list compiled by X user “Otto” shows. For years, X has been the preferred social media platform for crypto users, and account suspensions significantly impact the ability of affected crypto platforms to communicate with their users. X did not immediately respond to a request for comment. Pump.fun was contacted for comment. GMGN said on Telegram that it is aware of its X account suspension and was “actively appealing the decision and working to restore the account as soon as possible.” It added that it “remains in close communication with X to expedite a resolution.” Meanwhile, multiple X users  speculated that the accounts were suspended for using a third-party application programming interface (API), which X banned the use of in January 2023. Related: Trump’s Truth Social files S-1 for dual Bitcoin and Ether ETF Some claimed the platforms used outside API’s to skirt the steep costs for X’s in-house API tool, which starts at $60,000 a year for its subscription level aimed at startups. Despite the speculation, the reason for the suspensions is still unknown. The X user “Braden,” whose profile says they conduct marketing for Pump.fun, said in an X post that the platform’s suspension was “probably the mass reporting bs [bullshit].” Pump.fun has divided opinions as its platform has eased the process of creating memecoins, highly speculative cryptocurrencies that have no intrinsic value. Pump.fun was accused of helping create pump-and-dump schemes in a January class-action lawsuit, which claimed every token it helped create is an unregistered security from which it made nearly $500 million in fees. Hall of Flame: NBA star Tristan Thompson misses $32B in Bitcoin by taking $82M contract in cash  

Social platform X suspends Pump.fun and multiple crypto accounts, reasons remain unclear