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Musk Casually Overturns the Rice Bowls of Crypto KOLs

Elon Musk's X platform has updated its paid partnership policy, causing significant disruption among crypto KOLs. The new rules mandate that all paid promotional posts must use a "Paid Partnership" disclosure label, replacing the previous "#ad" requirement. Additionally, reporting unlabeled paid content has been simplified to an anonymous form. Initially, the policy mistakenly included "cryptocurrency" in a list of prohibited promotion categories, but this was quickly corrected by X's product lead, Nikita Bier, who clarified that the change aims to improve transparency and user trust, not target crypto or prediction markets. The new policy effectively ends the era of "hidden advertisements" common in crypto influencer marketing. Both projects and KOLs are concerned: projects fear that labeled promotions may reduce credibility, while KOLs risk reputational damage and fan backlash if their paid endorsements are visibly disclosed. The reporting mechanism allows anonymous user submissions, leading to fears of misuse. Several crypto KOLs have already been penalized, with accounts temporarily restricted or forced to delete non-compliant posts. As a result, some influencers are considering migrating to crypto-native platforms like Binance Square, which offer greater flexibility and alignment with crypto culture. However, X is unlikely to reverse its policy, as the crypto community represents a small fraction of its overall user base.

Odaily星球日报03/04 03:52