X says it wants to “kill” the infofi sector as Kaito collapses

X says it wants to “kill” the infofi sector as Kaito collapses

The Kaito token experienced a dramatic price collapse following a controversial announcement by X, which declared its intention to “kill the information finance (infofi) sector.” This bold statement was perceived by many investors as arrogant or excessively ambitious, quickly eroding market confidence and triggering a wave of heavy selling pressure that sent the token sharply lower.

Through this announcement, X positioned itself as a disruptive solution, claiming it would replace traditional information finance services. The project highlights the use of real-time data, automated analytics, and advanced artificial intelligence tools to guide financial decision-making. Its vision is overtly aggressive, with X asserting that its tools would render existing industry players obsolete.

This communication, however, was poorly received. A portion of the crypto community and more cautious investors viewed it as lacking realism, fearing that X would be unable to deliver on such radical promises. This perception fueled mistrust, accelerating sell-offs and amplifying volatility in the Kaito token, ultimately leading to a sharp collapse in its price.

Beyond the immediate impact on Kaito, the episode highlights the critical importance of communication in the crypto space. Overly ambitious or unrealistic statements can quickly backfire on a project, especially in a market where every word is closely scrutinized. In this case, the effect of X’s announcement was immediate and severe.

Kaito’s future now depends on X’s ability to clarify its vision, moderate its messaging, and deliver concrete results rather than bold slogans. Without tangible proof to support its ambitions, the token’s trajectory may remain unstable, reinforcing the idea that in crypto, promises must be backed by execution.

Christine Lagarde and several central bankers back Jerome Powell

Christine Lagarde, President of the European Central Bank, has joined other central bank leaders in publicly expressing support for Jerome Powell, Chair of the U.S. Federal Reserve. This collective stance comes amid intense political criticism targeting Powell and the Fed, particularly regarding monetary policy decisions and the handling of inflationary pressures. Support from major central bank leaders underscores a shared determination to protect monetary authorities’ independence from perceived political interference.

In their statements, Lagarde and her peers emphasized the need for central banks to remain independent, expert-driven, and guided by economic data rather than political pressure or electoral cycles. They stressed that credible and consistent decisions on interest rates and financial stability are essential to maintaining trust among markets and citizens. This coordinated support is widely seen as a strong message directed at governments and institutions seeking to influence technical monetary decisions.

This show of solidarity comes as Powell faces growing debate over his reappointment as Fed chair, as well as scrutiny of the institution’s broader strategy on inflation, growth, and employment. Critics accuse the Fed of being either too conservative or too lenient, reflecting a polarized political climate in which central bankers increasingly find themselves at the center of public controversy. Lagarde’s intervention, alongside other international figures, serves as a reminder that institutional credibility must take precedence over politically motivated criticism.

The situation also highlights the close ties among the world’s major central banks. Despite differing mandates and economic conditions, these institutions share common goals of price stability, economic support, and systemic risk prevention. Their cooperation is particularly visible on global issues such as financial conditions, international capital flows, and synchronized inflationary pressures.

Regardless of the political outcomes that follow, this episode reinforces how central bank independence remains a cornerstone of global economic confidence.

Ukraine becomes the 33rd country to ban Polymarket

Ukraine has announced a ban on access to Polymarket, one of the world’s leading blockchain-based prediction markets platforms. This decision places Ukraine among roughly thirty countries that have already restricted or banned such services, citing concerns over consumer protection, unregulated gambling, and the risks associated with innovative financial products operating outside national regulatory frameworks.

Supporters of prediction markets view them as powerful tools for aggregating collective information, but regulators often remain skeptical about their legal classification, whether as gambling, financial contracts, or speculative instruments.

Ukraine’s financial services authority justified the ban by pointing to the absence of a clear legal framework governing such platforms, arguing that users could face excessive risks without adequate protections. The move aligns with similar actions taken in other parts of the world, where governments are increasingly wary of the potential impact of unregulated prediction markets on financial stability and retail investors.

For Ukrainian users, the ban means they can no longer access Polymarket from within the country. Local ecosystems built around these services will need to adapt or shift toward alternatives that comply with domestic laws. The decision also underscores the challenges faced by cross-border financial innovations when confronted with national jurisdictions, each with its own compliance and consumer protection standards.

At the international level, Ukraine’s action reinforces a broader trend of regulatory hesitation toward prediction markets. In the absence of specific regulation, these platforms often operate in legal gray areas, leaving operators and users exposed to sudden restrictions or sanctions such as the one imposed in Kyiv.

The ban may further fuel debate over how prediction markets should be regulated and whether they should be treated as investment tools, gambling platforms, or speculative information markets. As national precedents accumulate, international regulators may eventually be pushed toward coordinated approaches, but for now, the future of prediction markets remains highly dependent on country-by-country legislation.

Former New York mayor implicated in a memecoin scam

A former mayor of New York has been drawn into a legal case after being accused of participating in a rug-pull scam involving a new memecoin. According to disclosed information, the cryptocurrency project was actively promoted as a community-driven initiative designed to generate value for investors. The memecoin attracted significant attention online through aggressive social media marketing featuring public figures and ambitious messaging.

Shortly after launch, the token drew substantial capital from retail investors enticed by promises of rapid gains. However, the project’s operators soon engaged in suspicious behavior. Developers reportedly disabled access to critical smart contract functions, allowing them to drain liquidity from exchange pools almost instantly. This maneuver, characteristic of a rug-pull, left investors holding a worthless asset while organizers walked away with the funds.

The alleged involvement of a high-profile political figure intensified the media and legal impact of the case. Prosecutors claim the former official leveraged his public reputation to lend credibility to the project and encourage memecoin purchases, before participating in the misappropriation of funds. Authorities allege this involvement was not transparently disclosed, misleading investors about the true nature of the project.

For U.S. regulators, the case raises broader questions about token regulation and promoter accountability, particularly when public figures are involved. Ongoing investigations could lead to charges related to fraud, market manipulation, or violations of securities laws, highlighting the growing need for stricter oversight of crypto token launches and promotional campaigns.

Ultimately, investors affected by the rug-pull face significant losses, while the case fuels ongoing debate about the credibility of popular crypto projects. It serves as a reminder that despite decentralized technology, personal vigilance and due diligence remain essential before investing in highly speculative and unregulated tokens.