* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Tuesday, June 10, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Cisco Partners with Monumental Sports & Entertainment to Power New D.C. Arena – Cisco Newsroom

    Cisco Teams Up with Monumental Sports & Entertainment to Revolutionize the New D.C. Arena Experience

    Middle Eastern Entertainment Headlines at 5:49 a.m. GMT – Yahoo

    Exciting Updates from the Middle Eastern Entertainment Scene!

    Ceramic Dalmatian Entertainment is WLAF’s Business of the Week – WLAF

    Spotlight on Success: Ceramic Dalmatian Entertainment Shines as This Week’s Featured Business!

    Brass Lion Entertainment unveils co-op action RPG Wu-Tang: Rise of the Deceiver – VentureBeat

    Unleash Your Inner Warrior: Discover the Co-Op Action RPG Wu-Tang: Rise of the Deceiver!

    Entertainment lineup released for 2025 Mississippi State Fair – WAPT

    Exciting Entertainment Lineup Unveiled for the 2025 Mississippi State Fair!

    After Denzel Washington Said He Would Be In Black Panther 3, Ryan Coogler Explained Why He’s ‘Fine’ With That Information Being Revealed So Early – Yahoo

    Ryan Coogler Shares Why He’s Cool with Denzel Washington’s Black Panther 3 Reveal!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    SunHydrogen Unveils Large Hydrogen Reactor in Houston – Fuel Cells Works

    SunHydrogen Launches Groundbreaking Large-Scale Hydrogen Reactor in Houston

    Technology, Labor Rights, and Political Power in Kenya and Across Africa – Tech Policy Press

    How Technology is Shaping Labor Rights and Political Power Across Africa

    Reeves to Announce £86 Billion for Science and Technology in Spending Review – Bloomberg

    Reeves Set to Unveil Groundbreaking £86 Billion Investment in Science and Technology!

    Innovation at Scale: How P&G Transforms Business Through Technology – Procter & Gamble

    Revolutionizing Business: P&G’s Bold Journey into Technological Innovation

    Drag racer survives frightening airborne crash at World Wide Technology Raceway – FOX 2

    Drag racer survives frightening airborne crash at World Wide Technology Raceway – FOX 2

    Apple Watch and the future of wearable technology in healthcare – MSN

    Revolutionizing Healthcare: The Future of Wearable Technology with Apple Watch

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Cisco Partners with Monumental Sports & Entertainment to Power New D.C. Arena – Cisco Newsroom

    Cisco Teams Up with Monumental Sports & Entertainment to Revolutionize the New D.C. Arena Experience

    Middle Eastern Entertainment Headlines at 5:49 a.m. GMT – Yahoo

    Exciting Updates from the Middle Eastern Entertainment Scene!

    Ceramic Dalmatian Entertainment is WLAF’s Business of the Week – WLAF

    Spotlight on Success: Ceramic Dalmatian Entertainment Shines as This Week’s Featured Business!

    Brass Lion Entertainment unveils co-op action RPG Wu-Tang: Rise of the Deceiver – VentureBeat

    Unleash Your Inner Warrior: Discover the Co-Op Action RPG Wu-Tang: Rise of the Deceiver!

    Entertainment lineup released for 2025 Mississippi State Fair – WAPT

    Exciting Entertainment Lineup Unveiled for the 2025 Mississippi State Fair!

    After Denzel Washington Said He Would Be In Black Panther 3, Ryan Coogler Explained Why He’s ‘Fine’ With That Information Being Revealed So Early – Yahoo

    Ryan Coogler Shares Why He’s Cool with Denzel Washington’s Black Panther 3 Reveal!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    SunHydrogen Unveils Large Hydrogen Reactor in Houston – Fuel Cells Works

    SunHydrogen Launches Groundbreaking Large-Scale Hydrogen Reactor in Houston

    Technology, Labor Rights, and Political Power in Kenya and Across Africa – Tech Policy Press

    How Technology is Shaping Labor Rights and Political Power Across Africa

    Reeves to Announce £86 Billion for Science and Technology in Spending Review – Bloomberg

    Reeves Set to Unveil Groundbreaking £86 Billion Investment in Science and Technology!

    Innovation at Scale: How P&G Transforms Business Through Technology – Procter & Gamble

    Revolutionizing Business: P&G’s Bold Journey into Technological Innovation

    Drag racer survives frightening airborne crash at World Wide Technology Raceway – FOX 2

    Drag racer survives frightening airborne crash at World Wide Technology Raceway – FOX 2

    Apple Watch and the future of wearable technology in healthcare – MSN

    Revolutionizing Healthcare: The Future of Wearable Technology with Apple Watch

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home News

“Investing in meme coins, including $Davido, is highly risky”

June 14, 2024
in News
“Investing in meme coins, including $Davido, is highly risky”
Share on FacebookShare on Twitter

The Securities and Exchange Commission of Nigeria (“SEC”) has issued a cautionary statement regarding the significant risks associated with investments in meme coins, including those linked to Afrobeat singer David Adeleke, popularly known as Davido. 

In a statement released on Friday, June 14, 2024, the SEC highlighted that meme coins lack fundamental value and are purely speculative assets.  

The Commission emphasized that meme coins are cryptocurrencies inspired by internet memes and jokes, often marketed as fun and light-hearted investments.

Their promotion is frequently driven by social media communities and sometimes bolstered by celebrity endorsements. 

The SEC’s warning underscores the speculative nature of these digital assets and urges the public to exercise caution and due diligence before considering any investment in meme coins. 

What SEC said 

“The attention of the Securities and Exchange Commission, Nigeria (“SEC”) has been drawn to a meme coin known as “$Davido” allegedly linked to the popular Nigerian singer, David Adedeji Adeleke AKA Davido 

“Meme coins are also NOT intended to serve as a medium of exchange accepted by the public as payment for goods and services, or as a digital representation of capital market products such as shares, debentures, units of collective investment schemes, derivatives contracts, commodities or other kinds of financial instruments or investments. 

“The general public is HEREBY ADVISED that meme coins lack fundamental value and are purely speculative. The general public is further WARNED that investing in meme coins, including $Davido, is highly risky and should be done with a full understanding of the associated risk.” 

The SEC further warned Capital Market Operators not to associate with instruments that fall outside the SEC’s regulatory purview. Such instruments should not in any manner be distributed or monitored through any capital market mechanism. 

“PLEASE NOTE that the Commission does not recognize $Davido as an investment product or investable asset class under its regulatory purview, as such individuals who patronize it, do so at their peril. 

“The Commission will continue to monitor developments within the ecosystem and will not relent in deploying its regulatory powers as and when required. 

Backstory 

In May, the “Timeless” singer announced the launch of a crypto token or meme coin inspired by himself. The token known as “Timeless Davido” ($DAVIDO) was the latest addition to the new wave of celebrity-themed meme coins making the news in the crypto industry at the moment. 

Davido announced the launch of the $Davido token on his X handle, and the tweet was acknowledged by the official Solana handle.

The $Davido token was launched on the Solana blockchain and was created using the popular Platform Pump Fun, which allows crypto users to create a token in a matter of minutes. 

Crypto research tool Lookonchain reported that Davido received 7.5 SOL worth $1,275 as startup capital, which he used to create the $Davido token.

Despite the excitement and the rave created online by the launch of the $Davido tokens, the party was short-lived as the meme coin lost over 93% of its value by the next day. 

The launch of the $Davido token is not the first time the Afrobeat superstar has ventured into the world of cryptocurrencies.

Nairametrics reported that the superstar previously launched $echoke on the Binance Smart Chain to provide a host of services, including non-fungible tokens, entertainment, media, and hospitality.

The project was short-lived and was soon forgotten. 

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Nairametrics – https://nairametrics.com/2024/06/14/investing-in-meme-coins-including-davido-is-highly-risky-sec/

Tags: CoinsInvestingnews
Previous Post

FACTCHECK: BlackRock’s ‘$400 million’ ETF is not “leaving Nigeria”

Next Post

Notcoin price surges by 16% as Binance finally lists ‘Token’ for trading 

SunHydrogen Unveils Large Hydrogen Reactor in Houston – Fuel Cells Works

SunHydrogen Launches Groundbreaking Large-Scale Hydrogen Reactor in Houston

June 9, 2025
Coco Gauff Makes Request After French Open – Yahoo Sports

Coco Gauff’s Unexpected Request After French Open Exit

June 9, 2025
Alcaraz tops Sinner in a French Open final for the ages – Yahoo Sports

Alcaraz tops Sinner in a French Open final for the ages – Yahoo Sports

June 9, 2025

Ecology expands Washington state’s drought emergency – Columbia Basin Herald

June 9, 2025
Jane Goodall: ‘We must let local wisdom and science be ou… – observer.co.uk

Jane Goodall: ‘We must let local wisdom and science be ou… – observer.co.uk

June 9, 2025
Nanowires replace lost retinal cells – Science | AAAS

Nanowires Spark Breakthrough in Restoring Lost Retinal Cells and Vision

June 9, 2025
Cancer Daily Horoscope Today (June 21 – July 22) June 9, 2025: Lifestyle will improve! – India Today

Cancer Daily Horoscope for June 9, 2025: Get Ready for Exciting Lifestyle Changes!

June 9, 2025
Luka Mijatovic on Qualifying for World Champs: “I didn’t want to put any pressure on myself” – SwimSwam

Luka Mijatovic Opens Up on His World Championships Qualifying: “I Didn’t Want to Put Any Pressure on Myself

June 9, 2025
North America Creator Economy Market Size | CAGR of 19% – Market.us

North America’s Creator Economy Poised for Explosive 19% Growth

June 9, 2025

Three Trailblazing Women Celebrate Victory with Prestigious Frank Prize in Performing Arts

June 9, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (678)
  • Economy (692)
  • Entertainment (21,597)
  • General (15,293)
  • Health (9,734)
  • Lifestyle (696)
  • News (22,149)
  • People (693)
  • Politics (699)
  • Science (15,911)
  • Sports (21,195)
  • Technology (15,679)
  • World (677)

Recent News

SunHydrogen Unveils Large Hydrogen Reactor in Houston – Fuel Cells Works

SunHydrogen Launches Groundbreaking Large-Scale Hydrogen Reactor in Houston

June 9, 2025
Coco Gauff Makes Request After French Open – Yahoo Sports

Coco Gauff’s Unexpected Request After French Open Exit

June 9, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version