• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

UK Financial Regulator Cautions on Retardio Project

user avatar

by Giorgi Kostiuk

5 months ago


The UK's Financial Conduct Authority (FCA) has issued a warning regarding the Solana-based project Retardio, citing unauthorized financial promotions targeting UK consumers.

FCA's Warning

On December 16, the FCA posted a warning against the Retardio project, noting that the token might be providing or promoting financial services without regulator approval. The FCA reminded consumers to deal only with FCA-approved firms to ensure adequate protection. The Retardio project features a Solana-based NFT collection reportedly achieving $31 million in lifetime sales. Its associated memecoin 'Retardio' is valued at around $0.08 with a market capitalization of approximately $87 million.

Retardio's Response to FCA

According to the FCA, UK-based users dealing with the Retardio project will lack access to the Financial Ombudsman Service, which helps settle complaints. The regulator also noted that users wouldn't be protected by the Financial Services Compensation Scheme (FSCS), a service ensuring consumer protection when financial firms fail. The FCA urged citizens to engage only with authorized firms and report unauthorized ones through official channels.

Value of Memecoins

In a Cointelegraph interview, Animoca Brands Chairman Yat Siu elaborated on how memecoins capture user attention, unlike traditional social metrics. He noted that in Web3, user-generated content culture is embedded into memecoins, with their market capitalization reflecting the value of the attention they garner. 'If attention were a token, that’s essentially what memecoins represent,' he said.

The FCA's warning highlights the need for caution when engaging with crypto-related projects. While memecoins offer new forms of engagement and value, users must be aware of the attendant risks.

0

Share

Other news

Trump's New Initiatives in Cryptocurrency Regulation

Trump is pushing for cryptocurrency regulation, but legislation faces tough debates in Congress.

user avatarGiorgi Kostiuk

a minute ago

MARA Shows Stock Surge Despite Earnings Miss

MARA, a Bitcoin mining company, reported a 9% stock rise focusing on cost-cutting despite disappointing first-quarter earnings.

user avatarGiorgi Kostiuk

2 minutes ago

Bitcoin Exceeds $100,000: A New Phase for the Crypto Market

Bitcoin's price crossed $100,000 on May 8, 2025, driven by increased institutional interest and broader market participation.

user avatarGiorgi Kostiuk

4 minutes ago

Tether Announces Testing of Non-Custodial Wallet for Mass Adoption

Tether is developing a non-custodial wallet aimed at improving access to cryptocurrencies and simplifying user experience.

user avatarGiorgi Kostiuk

5 minutes ago

XYZ Token: Analysis and Price Prediction for 2025-2030

An analysis of the XYO token with price predictions for 2025-2030, including factors influencing the market and technical analysis.

user avatarGiorgi Kostiuk

6 minutes ago

BTFD Coin: The Best New Meme Coin for Short-Term Investments

BTFD Coin attracts attention due to its high growth potential and active community. Key details and facts in the article.

user avatarGiorgi Kostiuk

6 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.