On 16 June 2024, the social media giant X suddenly suspended the personal account of the founding partner Alon Cohen, with the official account of Pump.fun, the memecoin creation platform on Solana Blocksiniri. The suspension decision included accounts of other Memecoin -oriented projects such as GMGN, Bloom Trading, Bullx and Elizaos. This move was astonished in crypto currency communities, and the official justification behind the suspension has not yet been announced by the platform. Pump.fun’s main website continues its activities uninterruptedly.
The reason for suspension remains unclear
The X platform did not give any official statement to the public about why the accounts were suspended. This silence led to various speculation from compliance with content policies to suspicion of illegal activity. In the crypto currency circles, comments are circulating that the platform takes measures under increasing regulatory pressures.
In particular, close monitoring of the United States Securities and Stock Exchange Commission (SEC) for the crypto currency sector and its possible new regulations strengthen these speculation. However, neither the X platform nor the relevant regulatory institutions are not presented with an official confirmation or justification. This uncertainty expands the question marks about the background of the event.
Pump.fun continues web operations
Although Pump.fun’s social media presence has been interrupted, the main website of the platform is completely accessible and operates as of Tuesday morning, June 18. Users can continue the function of creating new memecoins using Solana blockynin without any restrictions.
The closure of social media accounts significantly prevented the communication of the platform with the community and public relations activities. Users are worried that they may have difficulty in accessing updates and announcements. This reveals the tension between the continuity of central services and social media addiction.
Security measures were taken in the past
Pump.fun decided to permanently close the live broadcasting feature last year due to concerns about the reputation and safety of the platform. This decision came after the detection of publications that encouraged or contain excessive content. Platform management emphasized that they prioritize user security and compatibility.
Although this measures in the past show Pump.fun’s sensitivity to regulatory expectations and content rules, it is not known whether the existing social media suspends are related to similar security or compliance problems. What happened once again raised the fragility of the relationship between crypto currency projects with social media platforms and uncertainties in the regulatory environment.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
