KAITO Token Crashes 20% After X Bans Crypto Reward Apps
KAITO plunged nearly 20% after X revoked API access for InfoFi platforms that rewarded users with cryptocurrency tokens for posting, a policy shift announced by the social network’s head of product, Nikita Bier, who cited rampant AI-generated spam as the reason for the crackdown.
What Happened: X Cuts Off Token Reward Apps
The social network moved to block third-party applications that paid users in crypto for their posts. Bier said the category of projects, known as InfoFi, had flooded the platform with automated content.
“We have revoked API access from these apps, so your experience on the social network should soon improve (once the bots realize they are no longer being paid),” Bier wrote.
Kaito, one of the most prominent InfoFi…
