In a surprise attack on crypto accounts which came to pass June 16, 2025 X (ex-Twitter) suspended the accounts of Solana memecoin platform pump.fun it’s co-founder Alon Cohen. This was part of a larger scale action which affected over 20 key crypto related accounts. Removed their handles overnight were GMGN, Bloom Trading, and ElizaOS. The coordinated take down sent shock waves through the memecoin community.
The timing couldn’t be worse for pump.fun, which has quickly risen to the top of the Solana-based memecoin ecosystem. The launch of the platform in January 2024 which puts the head of the pack, it allows users to create and trade tokens instantaneously via a bonding curve model. The suspension of the pump.fun website and trading engine are still going strong.
Pump Fun Founder Twitter Suspension Explained
The suspended accounts include the official “pumpdotfun” handle and Cohen’s personal “@a1lon9” profile. Report shows the violation of X’s API policy. It is put forth that platforms like pump.fun may have been using unofficial API access which in turn allows them to stream content or analyze user activity without going through the paid developer tier.
In the first quarter of 2025 API violations came to the fore issue after X banned third party Twitter like apps and increased developer fees. Access now requires a yearly payment of $60,000 which many in the startup community report as a problem. With crypto accounts that use automation and data scraping this may have played a role in X’s action.
Founder of Pump Fun Twitter Ban which in turn Spawns Lawsuits.
Legal issues for pump.fun grew past the suspension. In January 2025 the announcement of two class action suits in New York which reported that the platform was selling unregistered securities. Plaintiffs report massive losses on tokens which included FWOG, FRED, and GRIFFIN and also report the platform’s effort to go around federal securities laws.
The legal cases present that all memecoins on pump.fun are of an unregulated security nature. Although the SEC has said recently that memecoins may not be within its scope for action should fraud be present. With over $622 million in platform revenue, pump fun’s legal issue is huge.
Regulatory Risk Looms Over Memecoin Markets
At a time of great need comes the bans. Pump.fun was set to go through a $1 billion token issue of its native PUMP token. Reports had it at a $4 billion full dilution value with a also put forth a revenue sharing plan for members. That which was to be launched is now in question due to the platform’s poor communication.
Meanwhile in the wake of the suspensions Solana memecoins saw a drop of 3%. We saw large changes in BONK, Trump, and Fartcoin. Also it is apparent that which memecoins which are too social media heavy are going to be hurt. As regulation steps up and X puts in more strict rules memecoins must change up their approach.
