đ¨đ¨đ¨Breaking News: Web3 investment firm DWF Labs announced that it will acquire FLOKI for a valuation of $10 million
DWF Labs has agreed to purchase FLOKI for $10 million, doubling its investment in May 2023.
DWF Labs' investment aims to strengthen Floki's position ahead of a possible crypto bull run.
The planned investment, which is spread over two years, aims to strengthen the #Floki ecosystem. As a result, this will secure Flokiâs prominent position ahead of an unprecedented crypto bull run.
âWe are happy to announce our commitment to the Floki ecosystem! I look forward to strategically positioning Floki for success in this increasingly competitive environment,â he said.
Since the first partnership, Floki's Sunday flexibility has been clearly visible. Especially since the beginning of the year, an increase of 29.42% has been seen, with an increase of more than 60% in February alone.
Originally known as Floki Inu, Floki was rebranded to focus on structuring the decentralized finance (DeFi) sector.
Similarly, Shiba Inu is undergoing a rebranding process to emphasize utility over memes. However, these transformations are now under scrutiny. For example, Coffeezilla, a leading crypto researcher, criticized these changes. He warns investors of the risks associated with meme coins seeking larger roles in the cryptocurrency space.
Additionally, Floki has faced regulatory challenges, including from Hong Kong's Securities and Futures Commission (SFC). The SFC has expressed concerns about Floki's high-yield betting schemes, citing a lack of official authority. Despite these warnings, Floki has demonstrated a strong commitment to compliance. The team has taken steps to prevent Hong Kong users from participating in the programs and prevent participation from the region.
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