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A Hong Kong watchdog, the SFC, has cautioned investors about the enticing yet potentially risky ‘Floki Staking Program' and ‘Tokenfi Staking Program,' which offer high annualized returns without the required regulatory green light.
Hong Kong's Securities and Futures Commission (SFC) has issued a public warning about the unauthorized status of two investment products associated with the Floki ecosystem – the "Floki Staking Program" and the "TokenFi Staking Program."
Hong Kong cautions investors on crypto staking programs claiming high returns without authorization.
The Hong Kong Securities and Futures Commission (SFC) has issued a cautionary statement to the public regarding two investment products associated with the Floki Inu ecosystem.
The Hong Kong Securities and Futures Commission (SFC) has issued a stern warning to the public about two staking products named the “Floki Staking Program” and the “TokenFi Staking Program.” Both staking products, which the financial regulator described as “suspicious,” are affiliated with the Floki protocol.
The team assured its investors it would go through all appropriate channels to fulfill all requirements with the Hong Kong authorities.
Hong Kong securities watchdog has warned the public against two “suspicious investment products” related to crypto.
Hong Kong's Securities and Futures Commission (SFC) has issued a stern warning about two new investment schemes named “Floki Inu Staking Program” and “TokenFi Staking Program.” These programs have come under scrutiny for their high-return promises, which range from 30% to over 100% annually.
Hong Kong Securities and Futures Commission (SFC) has raised red flags over the Floki & TokenFi Staking Program, categorizing them as questionable investment products.
In a startling turn of events, Floki Inu (FLOKI), a prominent player in the meme cryptocurrency sector and a competitor of Shiba Inu (SHIB), is grappling with regulatory troubles unleashed by Hong Kong's Securities and Futures Commission. The regulator issued a public warning cautioning against two investment products associated with Floki Inu – the Floki Staking Program and TokenFi Staking Program.
Dogecoin and Floki received a substantial boost in price last weekend as X payment integration comes closer.
While the crypto market remained dull over the past week, with Bitcoin (BTC) dropping over 4% on its seven-day chart, meme coins Dogecoin (DOGE) and Floki Inu (FLOKI) recorded notable uptrends. Speculations about Elon Musk's X adopting crypto payments contributed to the price upswings. Dogecoin rose from its weekly low of $0.074 to $0.
The dog-themed tokens have a tendency to move on any payments-related development at X (formerly Twitter).
Altcoins and meme coins are currently navigating choppy waters in the cryptocurrency market. This follows Bitcoin's (CRYPTO: BTC) price roller coaster, where the apex cryptocurrency spiked to $49,000 last week after the launch of BTC exchange-traded funds (ETFs) in the U.S., only to experience a swift downturn to $41,000, as a ‘sell the news' effect kicked in.
Floki's (CRYPTO: FLOKI) sister token TokenFi (CRYPTO: TOKEN) is betting heavily on tokenization. What Happened: TokenFi is up 33% in the last seven days, outperforming Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB), which gained over 2-4% during the same period.
A recently emerged meme coin called Dogwifhat (WIF), built on the Solana blockchain, has surpassed the market capitalization of its Ethereum-based counterpart Floki (FLOKI), as reported by CoinGecko. With a current valuation of $310 million, Dogwifhat is gaining traction and posing a potential challenge to other meme coins like Pepe (PEPE).
A new Solana-based meme coin, dubbed Dogwifhat (WIF), has edged out its Ethereum-based counterpart Floki (FLOKI) in market capitalization, according to CoinGecko data. The meme coin is now worth a cool $310 million, threatening to challenge the likes of Pepe (PEPE).
Floki, originally inspired by Elon Musk's dog and dubbed the “people's currency,” has grown beyond its meme roots. As a major player in the web3 space, it spans decentralized finance, NFTs, and the Metaverse, with aspirations to be the premier meme-based cryptocurrency.
Binance, the world's leading crypto trading platform has delisted several spot trading pairs concerning Bitcoin (BTC), Ethereum (ETH)BBNB, Floki Inu (FLOKI), and others. Recently, to safeguard users and uphold trading market standards, Binance has undertaken a comprehensive review of its listed spot trading pairs.
According to Tony, an accumulation pattern is emerging, and he anticipates FLOKI becoming a notable mover in the meme coin market. Additionally, price forecasts for FLOKI suggest a potential surge of around 44.25%, contributing to the overall bullish sentiment.
The burn rates of Dogecoin rivals Shiba Inu and FLOKI have seen a significant spike over the last few days.
Dogecoin (DOGE) and Shiba Inu (SHIB) rival Floki Inu, a popular meme-inspired cryptocurrency, has seen its burn rate soar by over 600% over the last 24-hour period after more than 218 million FLOKI tokens were permanently removed from circulation.
These three meme cryptos to sell should not be in your portfolio. Outside of speculation, there's really no reason to own these assets.
The Shiba Inu (SHIB) community has burned over 12 million tokens, taking the burn rate to 300%. The burn occurred on January 2, 2024, as the community anticipates a new NFT project.
