Premium Invest Hub
  • Investing
  • Stock
  • Latest News
  • Editor’s Pick
  • Economy
Popular Topics
  • Occupied West Bank rocked by day of violence as gunmen kill three Israeli settlers and reprisal attacks reported
  • Azerbaijan’s leader accuses Russia of passenger jet crash ‘cover up’ in blistering new attack on neighbor
  • Spanish woman killed by elephant in Thailand while bathing animal, police say
  • US adds Chinese tech giants to list of companies allegedly working with China’s military
  • Bad news for homebuyers in the Northeast and Midwest

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions
    Premium Invest Hub
    • Investing
    • Stock
    • Latest News
    • Editor’s Pick
    • Economy
    • Investing

    Hong Kong Financial Watchdog Cautions Against Floki, TokenFi Staking Schemes

    • January 26, 2024

    On Friday, Hong Kong’s securities regulator cautioned investors against “suspicious” staking schemes tied to Floki and TokenFi.

    Both tokens within the Floki ecosystem offer crypto staking.

    They claim yearly returns of between 30% and 100%, the Securities and Futures Commission warned.

    Both Floki and TokenFi’s staking products have not been granted authorization for public offering, the announcement said.

    Further, the products’ administrator has not convincingly demonstrated how these high annualized returns can be achieved.

    What are Floki and TokenFi?


    Floki and TokenFi are key parts of the broader Floki ecosystem, which aims to provide diverse utilities for the FLOKI token.

    TokenFi is a multichain tokenization platform available on Ethereum and Binance Smart Chain since its launch on Oct. 27, 2023.

    While both have distinct staking programs, they are closely linked. Under the Floki scheme, stakers can access a substantial share of TokenFi’s supply. Meanwhile, TokenFi stakers earn TOKEN rewards via a user-friendly interface.

    Floki didn’t return Cryptonews’ request for comment on the SFC announcement by press time.

    Both products were added to the SFC’s Suspicious Investment Products Alert List on Jan. 26.

    Floki Staking Scheme Alert Follows High-profile Hong Kong Campaign


    The SFC’s announcement comes about a month after Floki’s intensive two-month marketing campaign in Hong Kong.

    FLOKI AND TOKENFI TO DOMINATE HONG KONG IN AGGRESSIVE 2-MONTH MARKETING CAMPAIGN

    As part of a new and aggressive campaign to strategically position #Floki and our sister project #TokenFi for dominance in what many believe will be one of crypto’s most explosive bull runs yet,… pic.twitter.com/ENHJ1nqJj1

    — FLOKI (@RealFlokiInu) December 12, 2023

    The campaign promoted Floki and TokenFi on various platforms in Hong Kong, including tramcars, digital city bus screens, and near upscale accommodations and office towers.

    The regulator advised investors to be careful with products that promise “too-good-to-be-true” returns and to stay sharp when making investment choices. It added that the agency would take “appropriate actions where there is any breach of the law.”

    Hong Kong is known for its strict approach to crypto licensing.

    The SFC has previously warned platforms against unregulated activities. Despite some claiming to have applied for licenses, compliance issues remain.

    Hong Kong launched a licensing program in early 2023 and lifted its crypto trading ban, aiming to become a crypto hub.

    The post Hong Kong Financial Watchdog Cautions Against Floki, TokenFi Staking Schemes appeared first on Cryptonews.

    Previous Article
    • Investing

    Is Sui About to Crash? SUI Price Drops 9% as Traders Pile into a New Bitcoin Protocol – What Does it Do?

    • January 26, 2024
    View Post
    Next Article
    • Investing

    Tiger Brokers Opens Door for Crypto Trading in Hong Kong + More Crypto News

    • January 26, 2024
    View Post

      Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


      By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

      Popular Topics
      • Occupied West Bank rocked by day of violence as gunmen kill three Israeli settlers and reprisal attacks reported
      • Azerbaijan’s leader accuses Russia of passenger jet crash ‘cover up’ in blistering new attack on neighbor
      • Spanish woman killed by elephant in Thailand while bathing animal, police say
      • US adds Chinese tech giants to list of companies allegedly working with China’s military
      • Bad news for homebuyers in the Northeast and Midwest
      Copyright © 2025 premiuminvesthub.com | All Rights Reserved
      • About us
      • Contact us
      • Privacy Policy
      • Terms & Conditions

      Input your search keywords and press Enter.