Connect with us

Cryto Mining

Floki Inu Cryptocurrency Ads Under Investigation in UK – Bitcoin News – Bitcoin News

Published

on

by Kevin Helms
The U.K.’s advertising authority has launched an investigation into advertisements for the cryptocurrency floki inu (FLOKI). The ads, titled “Missed Doge? Get Floki,” have appeared on London buses and the underground. The team behind the floki inu ad campaign says the advertisements are “legally cleared,” and the advertising authority’s action is “an attack against cryptocurrency and against the people’s freedom of choice — a clear attempt at censorship.”
The Advertising Standards Authority (ASA), the U.K.’s regulator of advertising, is investigating advertisements placed on public transport in London for the cryptocurrency floki inu (FLOKI).
Floki inu is the cryptocurrency named after Tesla CEO Elon Musk’s shiba inu dog. Musk has been called the Dogefather for his support of the meme cryptocurrency dogecoin (DOGE). He tweeted on June 25, “My shiba inu will be named Floki.” The Tesla boss followed up with a tweet on Sept. 12 stating, “Floki has arrived.” FLOKI has both an ERC20 token and a BEP20 token.
The floki inu ads have been seen on London buses and in underground stations. The ads feature “Missed Doge? Get Floki” in big, bold writing.
The team behind the floki inu crypto ad campaign said the advertisements were “legally cleared.” They told the BBC:
These ads also include a clear disclaimer highlighting the volatility of cryptocurrencies.
While Transport for London (TFL), the capital’s transport operator, said that there have not been widespread complaints from the public about cryptocurrency advertisements, some politicians in the U.K. have expressed concerns that the TFL should not have approved the ads for floki inu.
The mayor of London’s office said, “TFL is writing to the ASA and Financial Conduct Authority (FCA) to ask for their views on the concerns being raised.” Green Party London Assembly member Sian Berry told the Guardian:
This should have raised a red flag, and someone at TFL should have looked at this before it was approved.
The team behind the floki inu ad campaign told the BBC in an email:
The attack against these ads by a certain political party is an attack against cryptocurrency and against the people’s freedom of choice — a clear attempt at censorship.
Over the summer, the ASA banned an ad campaign for the cryptocurrency exchange Luno, which ran on TFL. The ad stated that “It’s time to buy” bitcoin.
In a statement to the BBC, the ASA said it was looking at different cryptocurrency advertisements, including those for floki inu, across “various media spaces,” not just TFL. “We’ll be assessing whether these ads break our rules and using our findings to inform our regulation in this area, including any follow-up enforcement action,” the authority described.
What do you think about the investigation into the ads for cryptocurrency floki inu (FLOKI)? Let us know in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Sotheby’s to Bring Down the Hammer in Ethereum on 2 Iconic Banksy Paintings
Sotheby’s, the British-founded American luxury auction house, has announced the company will be selling Banksy works for real-time bids in ethereum at “The Now Evening Auction” on November 18. While the upcoming auction will have pieces from highly acclaimed artists … read more.
Sotheby’s to Bring Down the Hammer in Ethereum on 2 Iconic Banksy Paintings
Sotheby’s, the British-founded American luxury auction house, has announced the company will be selling Banksy works for real-time bids in ethereum at “The Now Evening Auction” on November 18. While the upcoming auction will have pieces from highly acclaimed artists … read more.
Check all the news here

source

Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Cryto Mining

Crypto Podcast: Potential BTC Price Bounce and NFT Theft – Coindesk

Published

on

Crypto Podcast: Potential BTC Price Bounce and NFT Theft  Coindesk
source

Continue Reading

Cryto Mining

Crypto Airdrop: What's an Airdrop and Why Crypto Airdrops Are Issued – Coindesk

Published

on

Crypto Airdrop: What’s an Airdrop and Why Crypto Airdrops Are Issued  Coindesk
source

Continue Reading

Cryto Mining

Foundry launches a BTC mining rig marketplace with over 40k units – Techstory

Published

on


The Bitcoin mining industry is booming as the overall network hashrate continues to increase. This has been used as a good opportunity by Foundry to launch a BTC mining rig marketplace. The mining rig marketplace is called the Foundryx and has over 40,000 mining units for resale. They also have their own mining setups, which contribute 16.8% to the total BTC hash rate. This also makes them the largest miner as per hash rate, followed closely by AntPool.
The company has been making money by employing the mining rigs themselves and selling them as well. This makes it really profitable for them. In August 2020, the digital currency group invested $100 million in the company. Foundry was just a year old when this investment was made, and they have been working in the BTC mining industry ever since. Their new marketplace is also a step in the right direction as it offers much-needed rigs in the market,
Foundry USA launches BTC mining rig marketplace
The company is already the largest individual contributor of the BTC hash rate with 29.83 EH/s. And now, they are planning to use the company’s robust shipping and logistic units to reach customers who purchase from their new mining unit marketplace. I think their profits are going off the charts with this new business idea.
One very important thing to note here is that the BTC mining rig marketplace has units for resale. This means it doesn’t sell new devices. The mining rigs have been used before and hence will be available for cheaper rates. Additionally, the current supply chain issues and chip shortages have increased the demand for used rigs. Currently, there aren’t many used rigs resellers in the market that can be trusted properly, but with Foundryx, the trust factor is there. This is why they are planning to become a properly trusted secondary marketplace of BTC mining rigs. It is also important to note that Foundry has also been launching staking services on 20 different networks, which will be yet another important business for them.
What are your thoughts on Foundry USA launching a used BTC mining rig marketplace? And do you think it will take off due to the current shortage of chips and rigs supply? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: Metaverse will be a multitrillion dollar market, says Cathie Wood.
comments
#FoundryxMining
I am a geek trying to make an audience for his awesome content. With laser eyes, I believe that Bitcoin is going to $100k very soon. HODL! Follow me on Twitter for more updates.

Copy Protect PDF, MP3, MP4 and more, with Nexcopy USB Duplicator Systems .

source

Continue Reading

Trending