Floki Inu, a prominent memecoin project, has issued a stern warning to its community and the wider cryptocurrency sector regarding ongoing scams involving counterfeit tokens falsely linked to its brand.
These fraudulent tokens have emerged on the Solana and Base blockchains, deceiving unsuspecting investors.
In an official statement posted on social media, Floki Inu emphasized that its genuine token (FLOKI) is exclusively available on the BNB Smart Chain and Ethereum networks.
To safeguard users against scams, Floki Inu provided the correct contract addresses:
“0xcf0c122c6b73ff809c693db761e7baebe62b6a2e” for Ethereum and “0xfb5b838b6cfeedc2873ab27866079ac55363d37e” for BNB Smart Chain.
The project urged its community members to rely solely on official sources for token-related information to avoid falling prey to fraudulent schemes.
Despite these security challenges, Floki Inu remains committed to expanding its ecosystem’s functionalities.
A significant recent development includes the launch of the FLOKI Name Service on the BNB Chain mainnet.
READ MORE: Bitdeer Secures 30-Year Lease for Ohio Mining Site, Plans Massive Power Expansion
This service allows users to register decentralized domain names with the .floki extension, leveraging the Space ID architecture for compatibility with various decentralized applications (DApps), such as Trust Wallet and PancakeSwap.
Floki Inu’s growth on the BNB Chain has been notable, surpassing 417,400 holders. In celebration, the project initiated a rewards program enabling holders to claim interest rewards.
Looking forward, Floki Inu disclosed its ambitious 2024 roadmap, outlining plans for utility-focused initiatives.
These include the introduction of regulated digital banking accounts that facilitate the creation and funding of accounts using FLOKI tokens.
The project has also forged a partnership with a licensed fintech firm to enable digital bank accounts supporting Swift payments and SEPA IBAN capabilities across several countries, including Canada, Spain, Dominica, Australia, and the United Arab Emirates.
Earlier this year, the Hong Kong Securities and Futures Commission (SFC) cautioned the public against unauthorized schemes like the “Floki Staking Program” and “TokenFi Staking Program,” which promise high annualized returns without proper authorization for public sale in Hong Kong.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Playboy Biden (PLAYBID) could become a viral memecoin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Playboy Biden (PLAYBID), a Solana memecoin that was launched recently, is aiming to challenge other memecoin giants, such as Shiba Inu (SHIB) and Dogecoin (DOGE).
Early investors in SHIB and DOGE made astronomical returns, and Playboy Biden presents a similar opportunity.
Playboy Biden has a market cap below $73,000 at the moment despite rallying 340%, meaning that when it just reaches a modest market cap of $5 million, early investors would generate returns of around 70,000% in a matter of days or hours.
The exciting memecoin is poised to rally 11,000% in the coming two days, and Playboy Biden could potentially reach a multi-million dollar market cap within a few weeks.
Currently, Playboy Biden can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy Playboy Biden on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Playboy Biden by entering its contract address – D4xVc71di6F8187sD2Mkvo1Bs87QHGoHzbcJKdFPBhvt – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like PLAYBID.
Playboy Biden (PLAYBID) could become a viral memecoin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Playboy Biden (PLAYBID), a Solana memecoin that was launched recently, is aiming to challenge other memecoin giants, such as Shiba Inu (SHIB) and Dogecoin (DOGE).
Early investors in SHIB and DOGE made astronomical returns, and Playboy Biden presents a similar opportunity.
Playboy Biden has a market cap below $71,000 at the moment despite rallying 310%, meaning that when it just reaches a modest market cap of $5 million, early investors would generate returns of around 70,000% in a matter of days or hours.
The exciting memecoin is poised to rally 11,000% in the coming two days, and Playboy Biden could potentially reach a multi-million dollar market cap within a few weeks.
Currently, Playboy Biden can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy Playboy Biden on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Playboy Biden by entering its contract address – D4xVc71di6F8187sD2Mkvo1Bs87QHGoHzbcJKdFPBhvt – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like PLAYBID.
Early investors in memecoins like Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) made astronomical returns, and Trump the Felon (TRUMPFEL) presents a similar opportunity for a limited time.
Trump the Felon (TRUMPFEL), a newly launched Solana memecoin, is poised to explode over 18,000% in a matter of days, as former Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) investors pour funds into this new token.
TRUMPFEL will be listed on KuCoin, one of the largest centralized exchanges in the world, within a few days – and this is a massively bullish development for the token, as millions of new investors will easily be able to buy Trump the Felon.
Currently, Trump the Felon can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy TRUMPFEL on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Trump the Felon by entering its contract address – DspvMmTQrMCdaesTCFPf4PPGQxxRf2UPmj5b6CRUdaQf – in the receiving field.
TRUMPFEL currently has a market cap of $353,000, with over $21,000 in locked liquidity, meaning it has huge upside potential.
It has already rallied 3,400% in the last 24 hours, but massive additional gains are predicted and investors who buy at the current price could turn hundreds of dollars into hundreds of thousands.
In face, early investors could make returns similar to those who invested in Shiba Inu (SHIB), Dogecoin (DOGE) and Bonk (BONK) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
Binance, a major cryptocurrency exchange, encountered a setback as a United States court declined to dismiss several claims brought against it by the Securities and Exchange Commission (SEC).
In a court filing on June 28, Judge Amy Berman Jackson specified that claims concerning Binance’s staking program, the initial coin offering of BNB, anti-fraud violations, and the SEC’s assertion that former CEO Changpeng “CZ” Zhao acted as a “control person” will proceed.
Additionally, the court ruled that Binance should have been registered under the Exchange Act.
However, Judge Jackson did dismiss claims related to secondary market sales of BNB and transactions involving the Binance USD (BUSD) stablecoin.
Her decision to dismiss the BNB secondary market sales claim echoed a similar ruling by Judge Analisa Torres in a previous SEC case against Ripple.
Scott Johnsson, a finance lawyer, characterized the ruling as a significant setback for the SEC, while Fox Business reporter Eleanor Terrett anticipated its implications for other cryptocurrency platforms such as Coinbase, Kraken, and Consensys.
READ MORE: Bitcoin Activity Hits Lowest Levels Since 2010 Amid Retail Investor Retreat
Judge Jackson also rejected the SEC’s claims regarding Binance’s passive income feature, “Simple Earn,” scheduling a court hearing for further proceedings on July 9.
The SEC, under the leadership of Gary Gensler, initiated legal action against Binance in June 2023, alleging that the exchange offered unregistered securities and operated unlawfully within the U.S.
Binance and CZ sought to dismiss the lawsuit approximately three months later, arguing against the SEC’s purported overreach.
Despite these legal challenges, Binance maintains its status as the world’s largest cryptocurrency exchange, boasting more than 200 million users and managing assets exceeding $100 billion.
This ongoing legal battle underscores regulatory scrutiny within the cryptocurrency industry, particularly concerning compliance with securities laws and operational licensing in various U.S. states.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
The launch of spot Ether exchange-traded funds (ETFs) in the United States, originally anticipated for early July, has faced delays by the U.S. Securities and Exchange Commission (SEC).
According to Bloomberg ETF analysts Eric Balchunas and James Seyffart, the SEC has extended the review period for S-1 forms submitted by prospective issuers, pushing the expected launch to mid-July or later.
“The SEC has taken additional time to return the S-1 forms,” Balchunas stated, indicating a delay beyond the initial July 2 target.
The SEC has requested resubmissions by July 8, potentially postponing the ETF launch until mid-to-late July, as per Seyffart’s analysis.
Nate Geraci, president of ETF Store, noted that recent S-1 revisions were minor, suggesting a clearance within 14–21 days once resubmitted.
Despite uncertainties in the exact timeline, the SEC has hinted at a possible summer launch.
Earlier predictions by Balchunas in June suggested an early July launch window based on initial SEC feedback being less critical than expected.
The process for approving Ethereum ETFs involves two steps: the approval of 19b-4 forms in May, which was completed for eight ETF bidders, and now the review of S-1 forms.
Unlike the 19b-4 filings, the S-1 forms do not have a fixed deadline, subjecting issuers to the SEC’s review schedule.
SEC Chair Gary Gensler confirmed progress in the ETF approval process on June 26.
Major issuers like BlackRock, Fidelity, and others have been allowed to participate following a rule change. VanEck and others have prepared 8-A forms for exchange listings by July 8.
Gensler cautioned that despite progress, actual listings on stock exchanges might not occur until September, emphasizing the process’s reliance on issuer response times.
He highlighted ongoing coordination between the SEC and applicants as crucial to advancing Ether ETF listings.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
On June 28, Yield App, a Seychelles-based crypto investment platform, announced the immediate cessation of all its operations.
This decision, as stated by the company, “had been made to ensure fair and equal treatment for all Yield App’s users and stakeholders.”
The company cited significant portfolio losses due to third-party hedge fund managers who held Yield App’s assets on the now-defunct cryptocurrency exchange FTX, which is currently embroiled in litigation.
Despite suspending community channels, Yield App assured users that a support channel would remain accessible through its official website.
CEO Tim Frost informed Cointelegraph that the company has been “pursuing litigation against several hedge funds” responsible for the substantial losses on assets held in custody on FTX.
“Some of these proceedings are ongoing,” Frost explained.
“However, after 18 months of recovery actions, we have been advised to shutter the platform in the best interest of creditors, whereby the administrators will pursue claims directly.”
Yield App’s transparency has been questioned following the announcement.
“In a Discord message dated November 10, 2022, Frost had reassured users that the firm had “no significant exposure to FTX.”
An anonymous source expressed confusion to Cointelegraph, stating, “This whole thing doesn’t make any sense.
“I think it’s super weird they got affected by FTX when it’s already two years ago, and they gave an official statement.”
Addressing these concerns, Frost reiterated that Yield App itself “did not have significant direct exposure to FTX.”
He clarified that the indirect exposure through fund managers only became apparent later, leading to ongoing legal proceedings.
The collapse of FTX has led to multiple asset sales and settlements.
In 2024, FTX sold claims and assets, including an 8% stake in the AI firm Anthropic, its European arm for $33 million, and plans to sell Digital Custody for $500,000.
These actions are part of FTX’s bankruptcy proceedings aimed at liquidating its assets.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Former PayPal CEO Peter Thiel has cast doubt on the potential for Bitcoin’s price to surge significantly from its current levels.
The billionaire, who admits to holding “some” Bitcoin but laments not having acquired more, questions the future demand for the cryptocurrency following the recent introduction of Bitcoin ETFs.
“I’m not sure it’s going to go up that dramatically from here.
“We got the ETF edition, and I don’t know who else buys it,” Thiel commented to CNBC on June 28.
Despite his reservations, he acknowledged that Bitcoin might still see some appreciation but warned of a volatile journey ahead.
Thiel’s skepticism contrasts with his earlier admission of being “underinvested” in Bitcoin in October 2021, just before it surged to its previous peak of $69,000.
His investment firm, Founders Fund, however, boasts a profitable history with Bitcoin, having first invested in 2014 and reaping $1.8 billion shortly before the 2022 market downturn.
In 2023, despite market challenges, Founders Fund doubled down with a $100 million Bitcoin purchase when prices dipped below $30,000.
READ MORE: Potential U.S. Spot Solana ETFs Could Skyrocket SOL Price by Ninefold, GSR Markets Predicts
Thiel’s initial enthusiasm for Bitcoin was rooted in its potential as a cypherpunk, anti-establishment tool. Reflecting on his early impressions, he noted, “That’s what I thought was terrific about it.”
However, he now believes Bitcoin hasn’t fulfilled its original vision, citing comments from law enforcement officials who prefer Bitcoin over cash for tracking purposes.
“While I initially saw Bitcoin as a cypherpunk, crypto-anarchist, libertarian, anti-centralized government thing,” Thiel remarked, “it doesn’t really work that way.”
Bitcoin, designed as a public, permissionless, and decentralized ledger, contrasts with truly anonymous cryptocurrencies like Monero.
Despite its fluctuations, Bitcoin currently trades at $60,450, showing a slight decline of 1.8% over the past 24 hours.
Thiel’s assessment reflects a nuanced view of Bitcoin’s evolution and challenges, suggesting ongoing uncertainty about its future trajectory despite its continued presence in investment circles.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Bitcoin miner withdrawals have decreased by nearly 90% since the block subsidy halving, according to data from CryptoQuant.
In a Quicktake post on June 28, the on-chain analytics platform suggested that miner sell pressure is “weakening.”
Bitcoin miners have spent several months adjusting to the new economic reality after April’s halving, which cut their subsidy per mined block by 50%.
Network fundamentals have shown a reshuffling since then, with both hash rate and mining difficulty dropping from all-time highs.
“After the Bitcoin halving, mining rewards were cut in half, so older model mining machines were no longer used as they were no longer cost-effective,” CryptoQuant contributor Crypto Dan explained.
“As a result, mining activity decreased, and miners began selling Bitcoin in OTC transactions to cover mining operation costs.”
The hash rate reflects a state of “capitulation” among miners, according to the popular Hash Ribbons metric, with the 30-day moving average hash rate below its 60-day equivalent.
While this is traditionally seen as a buy signal by Bitcoin traders, Crypto Dan believes the process is winding down.
“The current market can be seen as being in the process of digesting this sell-off, and fortunately, the quantity and number of bitcoins miners are sending out of their wallets has been rapidly decreasing recently,” he continued.
“In other words, the selling pressure of miners is weakening, and if all of their selling volume is absorbed, a situation may be created where the upward rally can continue again.”
CryptoQuant data shows the peak number of withdrawals from known miner wallets was more than 53,000 on April 10, nine days before the halving.
Since then, the figure has dropped to around 8,000 as of June 27, an 85% decrease.
“Positive movements in the cryptocurrency market can be expected in the third quarter of 2024,” the post concluded.
As Cointelegraph reported, a declining hash price has led to reduced profit margins for smaller-scale miners.
Between June 8 and June 24, hash price, reflecting expected revenue per exahash, dropped by 50%.
Data from Hashrate Index puts hash price at $0.048 as of June 28.
“The decline in Bitcoin hash price has recently put less efficient miners under pressure,” Bitcoin-focused economist and mining specialist Jan Wuestenfeld responded on X.
“Since the halving, the hash rate has started declining (partially stopped following a price increase), but the current price correction further reduces miners’ revenues.”
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Kazakhstan’s Financial Services and Regulatory Committee (AFSA) has given its approval for Toncoin (TON) to commence trading on regulated exchanges, following a thorough audit that confirmed the digital asset met the regulator’s listing standards.
Toncoin now stands among 107 cryptocurrencies endorsed by the Kazakhstan government, including notable names such as TRON, Polygon, Aptos, Stellar, Avalanche, Bitcoin, and Ether.
The Open Network, featuring its native asset TON, is gaining traction as a preferred medium for value transfer in emerging economies.
Leveraging Telegram’s extensive user base of 800 million daily active users, the Open Network facilitates Mini Apps and in-app payments, according to TGStat, with 55 million active users in Kazakhstan alone.
Within the TON ecosystem, blockchain gaming remains pivotal, with titles like Hamster Kombat, Notcoin, Yescoin, and TonPotato captivating users seeking additional income.
Hamster Kombat, in particular, has garnered significant attention, prompting cautionary advisories from governmental bodies.
READ MORE: Cardano Developers Thwart DDoS Attack, Plan Node Upgrade to Enhance Security
Uzbekistan’s National Agency for Perspective Projects (NAPP), responsible for online business and digital commerce regulation, issued warnings regarding the game’s tokens.
The regulator clarified that because Hamster Kombat tokens are not currently classified as onchain digital assets, they do not fall under its jurisdiction.
While playing the game remains permissible, the NAPP cautioned citizens that if tokens transition to onchain status in the future, withdrawal complexities could arise.
Despite its growing popularity, the TON network faces challenges, noted blockchain security expert Yu Xian, founder of SlowMist.
Xian highlighted a rise in phishing attacks on The Open Network, exacerbated by its integration with the Telegram messaging app. Scammers exploit this integration to disseminate malicious links within groups.
In summary, Toncoin’s approval for trading on regulated exchanges in Kazakhstan underscores its integration into the country’s cryptocurrency landscape.
However, challenges such as regulatory oversight of emerging blockchain applications and security concerns remain pertinent as the ecosystem evolves.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.