Beautiful Virgin Islands

Monday, Aug 04, 2025

Ban ads for cryptocurrencies at stations and on buses, TfL urged

Ban ads for cryptocurrencies at stations and on buses, TfL urged

Posters for unregulated meme coin in UK capital prompt calls for action

Transport for London (TfL) has been urged to ban adverts for unregulated financial products after it ran a three-week poster campaign for a crypto token funded by an anonymous group.

Posters for Floki, a so-called meme coin named after a dog owned by Elon Musk, appeared on buses and in Underground stations across London last month.

Since the invention of bitcoin in 2009, the software used to make crypto coins has become widely available, leading to hundreds of new digital tokens, with many based on jokes and internet memes, such as Dogecoin. But digital tokens remain unregulated in the UK and many other countries, and some have been used as scams.

Siân Berry, the Green party London Assembly member, has tabled a question to Sadiq Khan, the London mayor, about the poster campaign. She said: “This should have raised a red flag and someone at TfL should have looked at this before it was approved. We have guidelines on junk food and on advertising.”

She said TfL had accepted three ads for crypto products, including Floki Inu, in recent weeks. “Where the advert says ‘this is completely unregulated, you may lose all your money’, they ought to have had second thoughts. I don’t think cryptocurrency ads should be on the network. They’re unethical.”

There is no evidence that the entities behind Floki Inu are scammers, but digital tokens can be used in “pump and dump” scams, where a small number of investors pump attention towards a coin, sometimes using internet influencers, then rake in large profits by dumping their assets after the price rises.

At the end of October a token based on the Netflix show Squid Game gained worldwide publicity, prompting a 310,000% rise in value to $2,856 in a single day. But the value collapsed within hours and the anonymous developers behind the Squid token have disappeared, apparently with a profit of at least $2m.

Kim Kardashian West, who was paid to advertise a cryptocurrency that had been created by unknown developers.


In September the chair of the Financial Conduct Authority (FCA), Charles Randell, called for ministers to give it powers to regulate cryptoassets after Kim Kardashian West was paid to advertise Ethereum Max, a token that had been created a month earlier by unknown developers.

TfL admitted to the Observer that it did not know the identity of the people or organisation funding the posters, which read: “Missed $Doge? Get $Floki.”

The website promoting Floki Inu coins gives no names of anyone involved, nor contact address, and the RealFlokiInu Twitter account did not respond to the Observer’s request for information about the entity or individuals behind Floki Inu.

Similar inquiries by the FT last month were also unanswered, but it quoted someone called Sabre, describing themselves as the group’s head of marketing, saying that the campaign was intended to “legitimise” the coin and that “You get a lot of scam artists in this game.”

Jamie Bartlett, presenter of the BBC podcast The Missing Cryptoqueen, said that he had been surprised to see the adverts for Floki: “This is real wild west territory – it’s very hard to know which ones are serious projects and which pump and dump schemes.

“Some people think all cryptocurrencies are a scam, but there are other ones designed by really technical people who were quite pioneering in their understanding of encryption, and how these coins might be used as a sort of banking settlement system.”

The new meme coins were a reaction to that seriousness, he said. “They use funny internet memes – Dogecoin is based on a famous 4chan dog meme that was funny, although no one could really explain why. The meme coins are going back to that playful internet sub-culture.

“For people to now be advertising these absurd joke coins seems to be another step, another level of risk. People lose a lot of money on these speculative crypto investments. Ethically, I think TfL should consider whether it’s wise to have these types of ads on their buses.”

Chris Reader, head of commercial media at TfL, said: “Since 2018, we have asked our advertising partners to refer all cryptocurrency advertising to us for review prior to it running on our estate. When reviewing copy now from cryptocurrency brands who wish to advertise on our estate, we ensure that campaigns contain sufficient information to comply with both our policy and the ASA [Advertising Standards Authority] ruling.”

The Treasury consulted last year on whether cryptoassets should be covered by financial promotions rules. An FCA spokesperson said: “The FCA does not currently have the power to oversee how unregulated cryptoassets, like Floki Inu, are advertised to consumers. We continue to work with HM Treasury on their proposals to extend financial promotion rules to unregulated cryptoassets.

“The FCA has continually warned of the risks of cryptoassets. If people invest in these types of product, they should be prepared to lose all their money and they are unlikely to have access to any redress or compensation schemes.”

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Pilots Call for Mental Health Support Without Stigma
All Five Trapped Miners Found Dead After El Teniente Mine Collapse
Ong Beng Seng Pleads Guilty in Corruption Case Linked to Former Singapore Transport Minister
BP’s Largest Oil and Gas Find in 25 Years Uncovered Offshore Brazil
Italy Fines Shein One Million Euros for Misleading Sustainability Claims
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
Declassified Annex Links Soros‑Affiliated Officials and Clinton Campaign to ‘Russiagate’ Narrative
UK's Online Safety Law: A Front for Censorship
Nationwide Protests Erupt in Brazil Demanding Presidential Resignation
Parents Abandon Child at Barcelona Airport Over Passport Issue
Mystery Surrounds Death of Brazilian Woman with iPhones Glued to Her Body
Bus Driver Discovers Toddler Hidden in Suitcase in New Zealand
Switzerland Celebrates 734 Years of Independence Amid Global Changes
U.S. Opens Official Investigation into Former Trump Prosecutor Jack Smith
Leaked audio of Canada's new PM Mark Carney admitting the truth about the Net Zero agenda: "We're gonna make a lot of money off of this."
China Enforces Comprehensive Ban on Cryptocurrency Activities
Absolutely 100% Realistic EVO Series Doll by EXDOLL (Chinese Company) used mainly for carnal purposes
World Economic Forum founder Klaus Schwab: "In this new world, we must accept... total transparency. You have to get used to it. You have to behave accordingly. But if you have nothing to hide, you shouldn't be afraid."
Meet Mufti Hamid Patel, head of Office for Standards in Education in Pakistan
George Soros tells the World Economic Forum: "President Trump is a con man and the ultimate narcissist, who wants the world to revolve around him."
Hamas are STARVING the hostages.
Decline in Tourism in Majorca Amidst Ongoing Anti-Tourism Protests
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
Poland Begins Excavation at Dziemiany After New Clue to World War II‑Era Nazi Treasure
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Threatens Canada with Tariffs Over Palestinian State Recognition
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Trump Sues Murdoch in “Heavyweight Bout”: Lawsuit Over Alleged Epstein Letter Sets Stage for Courtroom Showdown
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
Trump Administration Finalizes Broad Tariff Increases on Global Trade Partners
J.K. Rowling Limits Public Engagements Citing Safety Fears
JD.com Launches €2.2 Billion Bid for German Electronics Retailer Ceconomy
Azerbaijan Proceeds with Plan to Legalise Casinos on Artificial Islands
Former Judge Charged After Drunk Driving Crash Kills Comedian in Brazil
Jeff Bezos hasn’t paid a dollar in taxes for decades. He makes billions and pays $0 in taxes, LEGALLY
China Increases Use of Exit Bans Amid Rising U.S. Tensions
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Procter & Gamble to Raise U.S. Prices to Offset One‑Billion‑Dollar Tariff Cost
House Republicans Move to Defund OECD Over Global Tax Dispute
Botswana Seeks Controlling Stake in De Beers as Anglo American Prepares Exit
Trump Administration Proposes Repeal of Obama‑Era Endangerment Finding, Dismantling Regulatory Basis for CO₂ Emissions Limits
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
A family has been arrested in the UK for displaying the British flag
Mel Gibson refuses to work with Robert De Niro, saying, "Keep that woke clown away from me."
Trump Steamrolls EU in Landmark Trade Win: US–EU Trade Deal Imposes 15% Tariff on European Imports
ChatGPT CEO Sam Altman says people share personal info with ChatGPT but don’t know chats can be used as court evidence in legal cases.
The British propaganda channel BBC News lies again.
Deputy attorney general's second day of meeting with Ghislaine Maxwell has concluded
Controversial March in Switzerland Features Men Dressed in Nazi Uniforms
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
×