After X’s ban on AI-powered crypto platforms like Kaito.ai and Cookie DAO, their tokens fell over 15%. X’s head of product Nikita Bier stated the ban was to improve user experience and curb the amount of “AI slop” on the platform.

Kaito.ai announced it would sunset its “Yaps” product, leading to a major fall in the KAITO token. Similarly, Cookie DAO said it would wind down its “Snaps” product, causing a drop in the COOKIE token.

Yaps and Snaps rewarded users with points, tokens, and airdrops for engaging with crypto content on X. The broader InfoFi crypto market cap is down 13% over the last 24 hours to $359.5 million.

CoinGecko data shows KAITO fell 17.7% to $0.57, while COOKIE tanked 15.5% to $0.038 after X’s ban. The market cap for InfoFi crypto has decreased by 13% in the last 24 hours to $359.5 million.

Accusations arose that some KAITO stakers had advanced knowledge of X’s ban before it was publicly announced. Over 1 million KAITO tokens are set to be unstaked on Friday, leading to speculation of insider trading based on the timing of the ban announcement.

Read more at Cointelegraph.com

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