Tiger Research's report identifies the collapse of the InfoFi ecosystem as a consequence of reliance on centralized platforms, notably following a policy change by X (formerly Twitter) that banned reward-based user posting. The ecosystem, including projects like Kaito, disintegrated rapidly after the platform's change. Nonetheless, the report highlights that some projects with strong product-market fit could survive and adapt, evolving into a reimagined 'InfoFi 2.0' through various strategic pivots.