Kaito token plummets after X revises API policies to ban InfoFi crypto projects
X, formerly known as Twitter, is revising its developer API policies to no longer allow apps that reward users for posting on the social media platform.
“We have revoked API access from these apps, so your X experience should start improving soon (once the bots realize they’re not getting paid anymore),” X product lead Nikita Bier wrote in a post on Thursday.
The native token of the InfoFi network, Kaito, plummeted more than 10% immediately following Bier’s post. The Kaito platform aggregates posts from prominent crypto accounts on X to show what topics are gaining traction across the community.
InfoFi has led to a “tremendous amount of AI slop & reply spam” on the X platform, Bier said.
“If your developer account was terminated,…
