🚨 Breaking: Pump.fun Founder & Memecoin Platforms Face X Crackdown – What’s Next for Crypto?

X’s latest purge hits the memecoin frenzy—Pump.fun and its founder are down, alongside other platforms. Is this the end of the wild west for speculative crypto?

Subheader: The Crackdown No One Saw Coming

X’s hammer drops hard on Pump.fun, the memecoin launchpad that turned degens into overnight millionaires—until now. Founder? Suspended. Competing platforms? Gone. The timing couldn’t be worse for crypto’s favorite casino side hustle.

Subheader: Memecoins on Life Support

With liquidity already thinner than a trader’s patience during a bear market, this move could spell disaster for the meme economy. But let’s be real—when has crypto ever played by the rules?

Subheader: The Irony of ‘Decentralization’

Platforms built to bypass gatekeepers just got gated. Poetic justice or just another Tuesday in crypto? Either way, the irony isn’t lost on anyone—except maybe the VC bros still shilling ‘utility tokens.’

Closer: One thing’s certain: the memecoin gravy train just derailed. But in a market where ‘fundamentals’ are an inside joke, don’t bet against a comeback. After all, nothing rallies bagholders like a good ol’ persecution complex.

• On June 17, Pump.fun, its founder Alon Cohen, and at least 19 other crypto-related accounts, including GMGN, BullX, Bloom Trading, and Eliza OS, were suspended on X without a clear explanation.
• While the exact cause of the suspensions remains unknown, some users speculated it could be due to the use of third-party APIs, which X banned in 2023. 

Pump.fun has become a target in the recent suspension campaign on X, with both its official account and that of its founder suspended. 

The suspension didn’t just stop with Pump. fun, it also extended to other crypto-related and memecoin platforms on X, sparking concerns across the crypto community about growing censorship and the future of memecoin promotion on social media.

On Monday, 17th of June, many in the crypto community were thrown into shock as the X accounts for Pump.fun and its co-founder Alon Cohen were suspended. The reason for the suspension was not revealed. Instead, the accounts just showed that they broke the platform rules. Alongside them, 19 other profiles linked to crypto platforms like GMGN, BullX, Bloom Trading, and the AI tool Eliza OS were also suspended, according to a list shared by user Otto. 

For the longest time, X has served as a key space for crypto communities, so while many wonder the cause of the suspension, it also brings worry to others as to how these platforms would be able to reach their audiences. In all of this, the affected platform’s website is still active, and no official report has been shared.

The Cause of Pump.fun Suspension 

As of the time of writing, the actual cause of Pump.fun’s suspension has not yet been revealed by Pump.fun or X. However, many users have taken to their X to share what they believe might have caused the suspension. One X user suggested that the accounts were removed for using outside APIs, which X banned in January 2023.

Some others added that the platforms may have used cheaper third-party tools to avoid paying for X’s expensive official API, which costs around $60,000 yearly for startup-level access. Still, the exact reason for the suspensions hasn’t been confirmed. It is also important to know that earlier in the year, Pump.fun was also hit with a lawsuit accusing it of breaking U.S. securities laws by selling unregistered tokens. The case claims the site earned nearly $500 million in fees by promoting risky meme coins.

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