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Kaito winds down crypto-backed ‘Yaps’ as X bans payments for ‘AI slop’
Key Takeaways (30s Read)
Kaito and Cookie DAO tokens dropped over 15% after X banned payments for AI-related posts.
X (formerly Twitter) has banned payments for AI-related posts, resulting in a drop of over 15% for Kaito.ai and Cookie DAO tokens. According to Nikita Bier, X's head of product, this measure aims to enhance user experience on the platform. The news has negatively affected market sentiment towards Kaito and Cookie DAO, which were once promising projects in the evolving tech landscape. Investors are responding by selling, raising concerns for further declines in the short term. As volatility in the cryptocurrency sector increases, regulatory actions on platforms demonstrate significant impacts on crypto assets and associated projects.
AI Analyst
AI Opinion
"The decision by X is likely to undermine investor confidence in the market. Cryptocurrencies like Kaito and Cookie DAO are particularly susceptible to regulatory impacts. The cryptocurrency market remains highly volatile, and such news is expected to have adverse effects. Looking ahead, more platforms may adopt their own regulations, and how the overall market adapts will be closely watched. Investors need to recognize risks while formulating strategies that account for market volatility."
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