Cryptic Moves in Crypto: Floki’s Bold Leap, UK Ad Battles, and Switzerland’s Bitcoin Gambit Unveiled!

Today, significant movements in the cryptocurrency sphere made headlines, capturing attention across various regions.

In a key development, the Floki DAO, the decentralized autonomous organization behind the memecoin Floki, has unanimously decided to use part of its community buyback wallet to fund liquidity for its forthcoming Exchange-Traded Product (ETP). Set for launch in the first quarter of 2025, this ETP aims to offer traditional finance investors in Europe exposure to Floki, which is currently ranked 66th by market capitalization. This move highlights the continued strong performance and interest in memecoins, which were the second-best performing crypto narrative of 2024, returning approximately 2,185% to investors.

Meanwhile, the United Kingdom continues to grapple with illegal cryptocurrency advertisements. Despite warnings from the Financial Conduct Authority (FCA), unapproved crypto adverts persist, with a reported 54% of the 1,702 alerts issued from October 2023 to October 2024 resulting in the removal of illegal ads. The FCA has turned its enforcement focus towards financial influencers who market these schemes, although many problematic ads remain.

On another front, Switzerland has initiated a proposal that could see the Swiss National Bank start holding Bitcoin as part of its balance sheet. This proposal, recently published in the Federal Gazette, now seeks 100,000 signatures to trigger a public referendum. If successful, this could mark a significant strategic shift in national financial policy. Notably, this initiative has been propelled by key figures in the crypto community, including Giw Zanganeh and Yves Bennaïm from the Swiss Bitcoin nonprofit think tank 2B4CH.

These developments underscore the evolving regulatory landscape and the increasing integration of cryptocurrency into traditional financial systems.