Nigerians Warns Against Investing In Davido’s Crypto Token By Federal Government.
The Federal Government has warned Nigerians against investing in the crypto token of music star, David Adeleke, better known as Davido. Last month, Davido announced the launch of the crypto token or memecoin inspired by himself. The digital currency, known as “Timeless Davido” ($DAVIDO), sparked excitement among the singer’s fans and supporters. Davido worked with the main blockchain platforms Phantom and Solana to complete the proposal. Initially, $DAVIDO skyrocketed, hitting a market cap of $10 million in four hours and gaining momentum on DEX Screener. The jubilation was however short-lived, as the coin’s value dropped on Thursday. Hours after being called out by a significant number of disgruntled X users, the former DMW head welcomed everyone who joined the $DAVIDO community early on. He further said that some people were fortunate enough to win $100 via the Solana platform. But in a statement on Friday, Securities and Exchange Commission (SEC) warned the pu...