The U.K.’s Financial Conduct Authority issued a public notice against Solana meme coin Retardio, while holders celebrated a 16% price surge following the news.
Engaging with the meme coin disqualifies investors from using the Financial Ombudsman Service, the FCA’s complaint resolution channel. Retardio buyers are also excluded from protections offered by the Financial Services Compensation Scheme.
“This means it’s unlikely you’d get your money back if the firm goes out of business,” according to the FCA notice.
Retardio is a popular Solana meme coin with a $111 million market cap. The token spiked 16% following the FCA’s notice, after previously peaking near $240 million. The Retardio community responded to the news with memes and jokes on social media.