X Suspends Crypto Accounts Including Pump.fun in Social Media Blitz
Social media platform X suspended over 20 crypto-related accounts this week, including Pump.fun and its co-founder Alon Cohen. The platform offered no explanation beyond its standard rule violation notice, leaving the crypto community speculating about the reasons behind these sudden restrictions.
Impact on Crypto Platforms
The suspensions immediately disrupted communication channels for affected crypto businesses. Among those impacted were:
- Pump.fun – Currently facing a class-action lawsuit alleging facilitation of pump-and-dump schemes
- GMGN – Already appealing the suspension to restore account access
- BullX, Bloom Trading, and Eliza OS – Also caught in the suspension wave
Potential Reasons Behind the Action
Industry observers suggest the suspensions may relate to unauthorized use of third-party APIs, which X banned in January 2023. Some platforms may have used alternative APIs to avoid X’s premium API pricing, which starts at $60,000 annually for startups.
Community Response
“These opaque enforcement actions create unnecessary uncertainty for crypto projects that rely on social media,” noted blockchain analyst Jamie Wilson. The incident has sparked calls for clearer platform guidelines to prevent similar disruptions.
Looking Ahead
As the situation develops, affected platforms continue working to restore access while the broader crypto community watches closely. This event highlights the fragile relationship between crypto projects and the social media platforms they depend on for outreach and engagement.
