Bankr bot resumes activity on X after suspension sparks crypto community backlash

AI-powered crypto trading bot Bankr resumed its activities on social media platform X after being suspended earlier on Thursday, causing crypto community members to rally their support.

Bankr is an AI agent that enables users to perform crypto trading and asset management through simple text commands on social media and messenger platforms like X and Farcaster. On Thursday, Bankr was suspended on X and Telegram, just hours after it launched on the messenger app. 

When Bankr was first suspended from Telegram, its founder @0xDeployer suggested that it was related to the violation of terms of service. However, the founder said Bankr's team "thoroughly" reviewed the terms of service prior to launch to ensure there were no violations.

In the X announcement, @0xDeployer directed users to interact with the trading bot via its private terminal and other decentralized options on the Base App, Farcaster and XMTP. While Bankr is back live on X, the trading bot still appears suspended on Telegram.

Following the suspension, users and crypto community members on X started rallying their support by using the slogan #FreeBankr, with users tagging X platform leads to accelerate Bankr's return. 

X has not explained the official reason for Bankr's short-lived suspension. The Block has reached out to X.

While there is no direct correlation to Bankr's suspension, another AI firm Eliza Labs recently sued X Corp., alleging the social media platform used its "incredible monopoly power" to suspend Eliza's account after extracting valuable technical knowledge.

Eliza Labs alleged that X pushed the team to adopt an expensive licensing fee of around $50,000 per month and, after they declined, deplatformed Eliza's AI products from the social media platform.