Hong Kong Securities and Futures Commission: Neither the “Floki Stake Plan” nor the “TokenFi Stake Plan” has been authorized for public sale in Hong Kong

Hong Kong’s Securities and Futures Commission (SFC) has warned the public about potentially risky investment products called “Floki Stake Scheme” and “TokenFi Stake Scheme”. Both products are part of the Floki protocol. According to SFC, these products offer staking services and claim annualized returns ranging from 30% to over 100%. However, regulators stressed that neither product is authorized for public sale in Hong Kong. Regulators highlighted that the managers of the two products had failed to convincingly demonstrate to Hong Kong’s Securities and Futures Commission how they intended to achieve the high annualized return targets they had set.