• Floki Inu DAO has passed the proposal to burn 4.97 trillion FLOKI tokens.
• The price of FLOKI token has surged 8% due to the news.
• The proposal seeks to disable the original cross-chain bridge and burn the tokens in the bridge.

The Floki Inu DAO has passed a proposal to burn over $100M worth of FLOKI tokens. On January 27, the proposal was opened for voting and quickly gained traction among the participants of the Floki Inu DAO. The proposal sought to remove the FLOKI transaction tax and burn the bridge tokens. After a two day voting process, the proposal was passed with 99.97% of the participants voting in favour of the proposal.

The passing of the proposal has caused the price of FLOKI token to surge by 8% and hit a daily high of $0.00002973. According to the information provided by Floki Inu, the proposal determined the future of two things for the Floki Inu community which are the original Floki cross-chain bridge and the 3% tax on the FLOKI token. The proposal seeks to have the original cross-chain bridge disabled and the tokens in the bridge burned since the bridge posed some vulnerability threats.

Floki Inu narrowly dodged a bullet last year when the cross-chain bridge was briefly exploited forcing the team to quickly disable the bridge to prevent further damage. The burning of the tokens will leave the Floki Inu DAO with a total of 4.97 trillion FLOKI tokens. It will also make the network more secure and efficient.

The Floki Inu DAO is a decentralized autonomous organization (DAO) that is responsible for the governance of the Floki Inu project. The DAO is composed of holders of the FLOKI token who can vote on different proposals that are put forward by the team. The burning of the tokens is the first major event for the DAO and it is expected to have a lasting impact on the price and the network of the FLOKI token.

The burning of the tokens is a positive sign for the Floki Inu project as it shows that the team is serious about the project and is willing to take the necessary steps to ensure its success. The passing of the proposal is likely to attract more investors to the project and push the price of the FLOKI token even higher.

• Dan Ashmore, a cryptocurrency analyst at Coinjournal, told CNBC that the audit reports by cryptocurrency exchanges were not entirely accurate.
• He stated that the reports only indicated the assets held by the exchanges and didn’t reveal the liabilities of the companies.
• Ashmore added that third-party entities need to look at these centralised exchanges and make financial assessments.

Recently, Coinjournal’s Dan Ashmore spoke with CNBC to discuss the audit reports released by cryptocurrency exchanges. Ashmore expressed his frustration with the reports, stating that they were anything but an audit. He pointed out that while the reports included the assets held by the exchanges, they failed to provide any information on the liabilities of the companies.

The analyst further explained that a proper audit requires the consideration of both liabilities and assets. Unfortunately, the proof of reserve reports published by exchanges such as Binance and OKX failed to provide any information on the liabilities. Ashmore added that this lack of information was a major issue, as it leaves investors in the dark about the financial health of the exchanges.

In addition, Ashmore noted that the recent move by accounting firm Mazars Group to suspend all work with its crypto clients was a concerning one. He stated that exchanges need to take the necessary steps to ensure that their audit reports are comprehensive and accurate. In order to do this, third-party entities need to be involved and given the opportunity to assess the financial standing of the exchanges.

Overall, Ashmore’s comments highlighted the importance of accurate and comprehensive audit reports. Investors need to be able to trust that the exchanges they are investing with are being transparent and honest about their financial standing. As such, it is essential that exchanges take all the necessary steps to ensure that their audit reports are accurate and up to date.

• Crypto scams are the use of fraudulent methods to use cryptocurrencies for personal gain.
• It is important to understand the potential threats of crypto fraud and take steps to protect yourself.
• The increased public interest in the crypto market has led to an increase in crypto fraud cases.

Cryptocurrency has been one of the biggest trends of the past decade. Not only has it revolutionized the way we think of money and transactions, but it has also opened up a whole new world of possibilities. Everyone from tech-savvy investors to everyday people are making the jump to the world of crypto. Unfortunately, the crypto landscape is not always a safe one. Crypto scams are on the rise, and it is important to be aware of the potential threats and take steps to protect yourself.

Crypto scams are conducted through the use of fraudulent methods to gain access to or use cryptocurrencies for personal gain. They can come in many forms, such as phishing schemes, fraudulent apps, and fake trading bots. Scammers take advantage of the lack of understanding many people have about cryptocurrencies, as well as the volatile nature of the market. As the public interest in crypto increases, so does the number of crypto fraud cases.

It is important to be aware of potential crypto scams and take steps to protect yourself. Do your research before investing in any crypto project, and make sure you understand the risks. Always be wary of any offers that seem too good to be true, and don’t give out any personal information or passwords to anyone. Additionally, it is important to keep your crypto wallet and private keys secure.

At the end of the day, the best way to protect yourself from the flood of crypto frauds is to stay informed and vigilant. Do your research and make sure you understand the risks before investing, and always be wary of any offers that seem too good to be true. By taking the time to educate yourself and be aware of potential scams, you can ensure that you are taking the right steps to protect your investments.

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