Elon Musk’s X Backtracks: Pump.fun and Founders Reinstated After 24-Hour Purge

Elon Musk’s X platform flip-flops on crypto—again. Pump.fun and its founders’ accounts are back online after a sudden 24-hour suspension. No explanation, no apology—just another day in decentralized finance’s wild west.

The Whiplash Saga

X’s love-hate relationship with crypto projects continues. One day you’re banned, the next you’re trending. Standard operating procedure for a platform that changes its mind faster than a meme coin’s price action.

Why It Matters

Pump.fun’s reinstatement proves two things: 1) Even billion-dollar platforms can’t kill crypto’s momentum, and 2) ‘permanent’ bans are about as lasting as a trader’s New Year’s resolution.

The Bottom Line

Another volatility spike for crypto’s most unstable pairing: Musk’s whims and blockchain projects. Meanwhile, traditional finance bros clutch their pearls—right before FOMO-buying the next dip.

After 24 hours in the dark on the Elon Musk-backed X platform, the accounts for Pump.fun, a solana (SOL)-based memecoin launchpad, and its founder have been restored. The suspension of several crypto-related X accounts happened on Monday, triggering speculation.

Furthermore, the X platform did not provide a detailed explanation as to why the accounts were closed. However, as Coinpedia reported, the 24-hour suspension of the Pump.fun account was likely due to malicious actions that violated X policies.

is this thing on? pic.twitter.com/IJbHVxWHzC

Closer Look at Pump.fun

In the past year of its existence, Pump.fun has facilitated the launch of hundreds of thousands of memecoins on the Solana blockchain, with only a few gaining mainstream adoption. The fair launch model has helped the launchpad attract more users, which has been of significant value to the Solana ecosystem.

As a result, Pump.fun has generated nearly $1 billion in revenue in the past year, which will play a crucial role in its anticipated $4 billion token launch. The launchpad has been working on expanding its services to include a Decentralized Exchange (DEX) to help compete with other web3 protocols offering similar memecoin services.Meanwhile, the palpable success of the Pump.fun platform has helped Solana’s memecoin ecosystem grow to nearly $10 billion and a 24-hour average trading volume of around $2.6 billion. The restoration of the Pump.fun platform will play a crucial role in the long-term success of Solana ahead of the imminent approval of the spot SOL ETFs in the United States.