X will ban "infofi" type applications from accessing its API, causing KAITO's stock to briefly drop by over 20%.
TL;DR
X is revising its API rules to ban apps like 'infofi' that reward users for posting, aiming to reduce AI spam. This change caused KAITO's stock to briefly drop over 20%, now trading at 0.59 USDT.
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According to Foresight News , Nikita Bier, product manager for X, stated that the developer API rules are being revised to no longer allow any apps that reward users for posting on the X platform (such as "infofi"). This has led to a proliferation of AI spam and replies on the platform. API access to these apps has been revoked, so the user experience on X should begin to improve soon (once the bots realize they are no longer being paid). If your developer account has been terminated, please contact the team for assistance in transitioning your business to Threads and Bluesky. KAITO may have briefly fallen by over 20% due to this news, currently trading at 0.59 USDT.