China News by Thebittimes.Com

The United Kingdom’s Financial Conduct Authority (FCA) has issued a warning that Retardio, a grossly offensive Solana-based memecoin and NFT project, “is not authorised” by the regulator.  Retardio responded by posting a meme that depicts Jeff Bezos in clown makeup.  It appears that the token has no reason to exist except to allow a contingent of Solana-based cryptocurrency traders an asset on which to speculate. Following the announcement from the FCA, the token’s price was buoyed, according to data from DexScreener. The total market capitalization for the project has again breached $100 million . The FCA has been trying to focus more on crypto, asking today for industry feedback on its new discussion paper looking at regulations for the space.  FCA tackles ‘operational backlog’ with 100 crypto staff Read more: TikTok accused of operating as crypto exchange in the UK, report Additionally, the FCA has grown its cryptocurrency-focuse...

Holders of FTX’s FTT will be allocated 0.35% of the new Pudgy Penguins token PENGU, according to the NFT project’s distribution plan.  Pudgy Penguins announced the launch of PENGU early on Friday. A total of 88 billion tokens will distributed, with 17.8% allocated to the project’s team, 25.9% to NFT holders, and 12.35% to liquidity.  FTT holders will receive a share of 308 million tokens. Since the announcement, FTT rose by 7.7% to $3.75 before falling back to $3.39. However, roughly 13 hours beforehand, it had climbed 40%.  X user @DarkCryptoLord claims this pre-pump was a sign that “ someone’s committing crime in broad daylight ” and accused the Pudgy Penguins team of insider trading.  FTT holders??? Wow congrats for that insider trading pic.twitter.com/VeycGB8Ouh — Dark Crypto Larp (@DarkCryptoLord) December 6, 2024 @DarkCryptoLord believes FTT’s price action 13 hours before PENGU’s launch is a sign of insider trading. Read more...

Author：Lily Editor：Colin Wu 1. Huobi’s weekly summary 1.1 Justin Sun plans to make Huobi Global the top three in the world link Justin Sun tweeted that he will concretely land measures to empower HT this week and plans to make Huobi top three globally. After the tweet was posted, HT pulled up from $6.81 to $7.18 with a 5.4 percent increase. As previously reported, Justin Sun is suspected to hold 74 million HT. 1.2 Justin Sun will participate in FTX’s Twitter Space as a “newest advisor to Huobi” link On October 20, FTX will host a Twitter Space where FTX COO Constance will talk with Justin Sun, the “newest advisor to Huobi”. Previously, there were rumors that SBF supported Justin Sun’s acquisition of Huobi Global, but SBF denied this claim. The future interaction and alliance between FTX and Huobi deserves continued attention. 1.3 Huobi Global launches 0% trading fee campaign for 11 USDD pairs link Huobi Global has announced that it will introduce a 0% trading fee for trading USDD pai...