Business
Davido Coin: SEC Warns On Risk of Investing
The securities and Exchange Commission has warned on the high risks associated with investing in meme coins including the “Davido coin”.
This warning is contained in a circular released on June 14 2024. It stated that Nigerians must fully understand the risks associated with investing in the meme coins.
The circular read, “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.
“Generally, meme coins are cryptocurrencies inspired by memes and internet jokes.
