X Restricts Free Access to Developer API for Likes and Follows to Combat Abuse

X is removing access to two key features of its developer API for free users, including the ability to like posts and follow other users, to combat spam and fake engagement. These changes will apply to the free tier only, and paid plans like Basic, Pro, and Enterprise will remain unaffected. The move aims to protect the platform, but could push legitimate developers toward paid plans.

In a recent series of announcements, the cryptocurrency landscape has witnessed significant developments that underscore the growing integration of blockchain technology into traditional finance. Key events include the tokenization of hedge funds by SkyBridge Capital, the launch of Wyoming's Frontier Stable Token, and the receipt of IPO proceeds in stablecoins by Bullish.

SkyBridge Capital, the investment management firm of Anthony Scaramucci, has announced plans to tokenize $300 million worth of its hedge funds on the Avalanche network [1]. The firm will bring two funds—the Digital Macro Master Fund and Legion Strategies—on-chain through a partnership with tokenization provider Tokeny and its parent company Apex Group, which manages over $3.5 trillion in assets. This initiative reflects the increasing adoption of blockchain technology for traditional financial assets. The tokenized real-world assets market has doubled over the past year to surpass $26 billion, with projections suggesting it could reach $1 trillion by 2030.

Wyoming state has also made a significant stride in the stablecoin sector by launching its Frontier Stable Token [2]. This is the first fully-reserved stablecoin issued by a U.S. public entity. The token is designed to be 2% over-collateralized, backed by U.S. dollars and short-duration U.S. treasuries held in trust. The token will become available to the broader public through Wyoming-based exchange Kraken on the Solana network and Rain's Visa-integrated card platform on Avalanche. Wyoming's move coincides with the recent enactment of federal stablecoin regulations under the GENIUS Act, which provides guidelines for stablecoin issuance in the United States.

Another notable event is the initial public offering (IPO) of Bullish, which received all $1.15 billion in proceeds in stablecoins [3]. This marks a first for U.S. public markets. Most tokens were minted on the Solana network and predominantly settled in Circle's USDC, with Coinbase serving as custodian. The transaction underscores the growing adoption of stablecoins in global payment flows as the sector becomes increasingly embedded in traditional finance.

These developments highlight the potential of blockchain technology to revolutionize various aspects of finance, from asset tokenization to stablecoin innovation. As regulatory frameworks evolve, these trends are likely to continue shaping the future of the cryptocurrency market.

References:
[1] https://www.cryptocompare.com/email-updates/daily/2025/aug/20/
[2] https://www.cryptocompare.com/email-updates/daily/2025/aug/20/
[3] https://www.cryptocompare.com/email-updates/daily/2025/aug/20/