The Financial Conduct Authority (FCA) warns people about the risk of investing in cryptocurrencies, referencing price volatility, product complexity, charges and fees, marketing materials and consumer protection. 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These token burns are designed to increase the scarcity of the token and push the value higher. Safemoon initially launched with a circulating supply of one quadrillion tokens (!!!), although the development team burned 223 trillion of these right away. Over 400 trillion tokens have been burned so far, with this figure continuing to grow as the months go by.
