On Monday, social media platform X suspended over 20 crypto-related accounts, including those of the memecoin platform Pump.fun and its co-founder, Alon Cohen. The platform did not provide a reason for the suspensions, citing only a violation of its rules. (Source: CoinDesk, May 13, 2024)
The suspensions significantly impact affected crypto platforms' ability to communicate with their users. Other suspended accounts include those connected to trading platforms GMGN, BullX, and Bloom Trading, as well as the AI tool Eliza OS. (Source: CoinDesk, May 13, 2024)
GMGN stated on Telegram that it is appealing the decision and working to restore its account. Multiple users speculated the suspensions were due to the use of third-party APIs, which X banned in January 2023. (Source: CoinDesk, May 13, 2024)
Pump.fun has faced criticism and a class-action lawsuit in January for allegedly facilitating pump-and-dump schemes, with the platform reportedly earning nearly $500 million in fees. The reason for the suspensions remains unclear. (Source: CoinDesk, May 13, 2024)