X revamps API policy, bans InfoFi apps

X is revamping its API policy to prohibit so-called InfoFi (Information + Finance) applications, according to its Head of Product, Nikita Bier. He stated that these apps, which reward users for engagement, are no longer permitted and that their API access has been revoked. The move has impacted the InfoFi ecosystem, with the price of Kaito (KAITO) plummeting more than 14% following the announcement. In a related development, CookieDAO (COOKIE) announced it is terminating its 'Snaps' service, a feature that measured and rewarded the influence of key opinion leaders (KOLs).