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Elon Musk-Inspired Dog Coin Sparks Crackdown with Barrage of Ads

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Mon, 11/15/2021 - 14:50
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Alex Dovbnya
Floki Inu's aggressive marketing assault has backfired
Elon Musk-Inspired Dog Coin Sparks Crackdown with Barrage of Ads
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A barrage of ads aimed at promoting Floki Inu, one of the top Elon Musk-inspired dog coins, has sparked a clampdown following the coin's aggressive campaign in London, according to a report by Business Insider.

Chris Reader, TfL's head of commercial media, says that all advertisers have to comply with its policy:

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.

Floki Inu's massive ad campaign that portrays the obscure canine coin as the next big thing took over the London Underground for nearly a month.

Its organizers wanted to appeal to those who missed Dogecoin and Shiba Inu but wanted to become part of the canine mania:

Missed DOGE? Get FLOKI.

FLOKI
Image by businesspost.ie

They also appeared on double-deckers throughout the city. It is not clear who is responsible for the marketing assault on London's transportation system.

The launch of the campaign preceded a massive price spike. Floki Inu, which was named after Elon Musk's Shiba Inu dog, is up 251% over the past 30 days.

Related
Elon Musk Teams Up with Dogecoin Creator to Criticize U.S. Inflation

Calls for a blanket crypto ad ban

Last week, Sian Berry, a member of the Green Party London Assembly, called for banning crypto ads altogether in order to make sure that they do not harm potential buyers.

Regulators are trying to grapple with invasive and misleading crypto ads throughout the globe.

As reported by U.Today, the Indian government is looking to prohibit crypto ads after local companies started promising big returns.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.