coinpedia 2025-06-17 22:24:37

Elon Musk’s X Reinstates Pump.fun and Its Founders Account After 24 Hours of Suspension

The post Elon Musk’s X Reinstates Pump.fun and Its Founders Account After 24 Hours of Suspension appeared first on Coinpedia Fintech News 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 — pump.fun (@pumpdotfun) June 17, 2025 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.