UK advertising watchdog probes crypto meme coin Floki’s marketing ‘assault’ on London transport November 17, 2021 The Advertising Standards Authority (ASA) has bowed to calls for an investigation into an ad campaign for a digital token named after Elon Musk’s new dog, Floki, after hundreds of adverts for the cryptocurrency appeared across the capital’s transport network. A spokesperson for the ASA told City PM that the watchdog is currently investigating the [...]
The US’ largest grantmaker receives $274m in crypto donations November 16, 2021 As the world’s top digital assets flirt with new all time highs charities are receiving multi million dollar donations in crypto. Fidelity Charitable, the US’ largest grantmaker, has received more than $274m (£203m) in cryptocurrency contributions so far this year — nearly quadruple its prior record of $69m in 2017 according to a company spokesperson. [...]
‘Cheap money’ fuels crypto rush as Bitcoin bounces near record $66k high amid inflation fears November 8, 2021 Bitcoin jumped by more than 7 per cent over the last 24 hours, heading above $66,300. ’Bitcoin is bouncing higher again, close to all-time highs fuelled by expectations that the era of cheap money looks set to hang around for longer, while inflation is expected to keep ticking up,” Susannah Streeter, senior investment and markets [...]
London transport hit by ‘aggressive’ marketing ‘assault’ from crypto meme coin Floki October 27, 2021 A digital token named after Elon Musk’s new dog, Floki, has rolled out hundreds of adverts in the capital in what it’s called “a full-out assault of the London public transportation system,” raising questions as to who is responsible for high-risk investments being advertised so widely. Floki Inu coin is one of many dog “meme” [...]
HMRC to issue ‘nudge’ letters targeting crypto asset owners across the UK October 20, 2021 HMRC has issued a statement warning individuals that they will soon be issuing “nudge” letters specifically in regards to crypto asset holdings. These “nudge” letters are yet to be circulated, but City PM checked in with Zoe Wyatt, partner and crypto asset specialist at Andersen UK. “These nudge letters are likely to have been automated [...]
Watchdog blames social media ‘hype’ and competitiveness for younger investors’ bets on crypto October 20, 2021 Three quarters of younger investors in the UK who place their bets on high-risk products, such as cryptocurrencies, say they are driven by “competition” with friends and their own past investments, according to new research from the FCA. Of the 1000 UK younger investors that the FCA surveyed between the ages of 18 and 40 [...]
