President Javier Milei advertised a crypto token meant to help local Argentine businesses, but his support was met with widespread concern about a potential scam and he deleted the post.

Milei initially promoted the LIBRA token late Friday in a post on X, saying the money raised would go to help small and medium-size companies in Argentina and stressing that the project was privately run. In a text message, he added that he would reap no personal financial benefit from the venture.

The token’s name appeared to be in reference to Milei’s political party, La Libertad Avanza, or his libertarian roots as an economist. Milei told Bloomberg he met with the company behind the coin, KIP Protocol, months ago. The company’s website includes a blog post featuring a selfie with its co-founder and the Argentine president giving a thumbs-up dated Oct. 20.

Argentines immediately began to panic over whether the president’s social media was hacked or if Milei himself had been duped by crypto scammers.

Community notes published on X — the social-media platform owned by Milei’s ally Elon Musk — cautioned people against the coin. Crypto scams, often called “rug pulls,” are rife on social media.

Milei deleted the initial post five hours later, saying he was “not aware of the details of the project and after having become aware of it I decided not to continue spreading the word.”

Despite being a Wall Street darling, Milei has so far struggled to lure foreign investment into Argentina even as his government crushes inflation and passes business-friendly reforms. He still hasn’t dismantled the complex currency controls his administration inherited more than a year ago, though Argentina’s economy is expected to grow again in 2025 after two years of punishing recession.

Even before Friday’s token drama, headwinds were building in Buenos Aires. US President Donald Trump’s tariffs stand to disproportionately hit Argentina, while Nissan is cutting back car production and Mercedes-Benz is leaving the country after more than 70 years. Argentina’s economic lifeline, the Rio Parana that carries most of the country’s farm exports, faced a setback after Milei’s government canceled an auction to dredge it deeper after receiving just a single bid as ships struggle to navigate narrow waters.

Asset managers, ranging from wealth management companies to hedge funds and pension funds, boosted allocations to U.S. exchange-traded funds tied to the price of bitcoin in the fourth quarter of 2024, as the price of the world's largest cryptocurrency soared 47%, according to recent regulatory filings.

The State of Wisconsin Investment Board disclosed in its quarterly 13-F filings with the Securities and Exchange Commission that its bitcoin ETF holdings more than doubled in the final three months of last year, to 6 million shares of the iShares Bitcoin Trust ETF by December 31. The fund, which was the first fund of its kind to report investing in crypto following the debut of bitcoin ETFs, couldn't immediately be reached for comment.

Other large investment funds also boosted their holdings in the ETFs, which launched in January 2024.

Tudor Investment Corp, a systematic hedge fund manager, reported its holdings of the iShares ETF -- now the largest of the pack, with more than $55 billion in assets -- climbed to 8 million shares, from 4.4 million shares. The value of those holdings also soared, reflecting bitcoin's jump in value, hitting $426.9 million, up from $159.9 million at the end of September. Tudor didn't immediately respond to a request for comment.

An Abu Dhabi sovereign wealth fund, Mubadala Investment Co, reported its first foray into bitcoin ETFs in the fourth quarter, taking a 8.2 million share stake in the iShares ETF that was worth $436.9 million.

Hedge fund Hunting Hill Capital had no exposure to these ETFs as of the end of the third quarter, but by December 31 had re-emerged as a significant investor, with positions valued at about $131 million by the end of the year.

"We’ve been actively trading within the broader crypto ETF complex, and the timing of the third-quarter filing may not have aligned with when we bought and sold various ETFs," said Adam Guren, founder and chief investment officer of the firm.

The ranks of those adding to positions included financial advisory firms whose clients have been eager buyers of bitcoin ETFs. Cetera Advisors and NewEdge Advisers were among firms that boosted holdings in several of the ETFs, including products offered by Fidelity, ARK Investments and Invesco.

Other investors were more selective, the filings showed. Cresset Asset Management boosted its exposure to ETFs carrying lower fees, said Jack Ablin, the firm's chief investment officer.

"It's also possible right now to get attractive options pricing for collar strategies, allowing us to protect the downside while giving away less of the upside in exchange, on these bitcoin funds," Ablin said.

It's often difficult to make sense of regulatory actions and changes to the structure and size of regulatory units. In a quickly evolving sector like cryptocurrency, it's even more challenging than usual. Sometimes it's not certain whether a major new development is going to be a boost or lead to a bust -- and there can be persuasive arguments in both directions.

If you're planning substantial crypto investments, understanding regulatory shifts and their implications is crucial. So here's what the latest big change is and what you need to do about it to stay ahead of the game.

The wild west is about to get even wilder

According to a report by The New York Times published on Feb. 4, the Securities and Exchange Commission (SEC) will be reducing its 50-person cryptocurrency law-enforcement group in keeping with the preferred policies of the new presidential administration. It's unclear if any or all of the activities originally assigned to the group will be handled by the newly formed Crypto Task Force created as part of an initiative by the new administration.

Valentine’s Day celebrates partnerships—built on trust, balance, and mutual development.

The same principles apply to Forex trading, where understanding the dynamics between currency pairs unlocks beneficial opportunities.

This season of roses and chocolates, let’s dive into the “power couples” of the Forex market. Here’s what makes them tick and the lessons traders can learn from these dynamic duos.

1. EUR/USD: The Power Couple

In the Forex world, EUR/USD is the equivalent of a timeless power couple like David and Victoria Beckham. It dominates the global trading stage, accounting for nearly 24% of trading volume.

Why It Works:

The euro and the US dollar represent two of the world’s largest and most stable economies. This pair boasts high liquidity, narrow spreads, and predictable price movements, making it a top choice for all traders.

Love Lesson:

Strong foundations lead to long-lasting success. EUR/USD offers traders a dependable partnership, even in volatile markets.

2. GBP/JPY: The Rollercoaster Romance

Dubbed the “Dragon Pair,” GBP/JPY is a couple that thrives on drama and excitement. Its high volatility and wide price swings make it a favorite among thrill-seeking traders.

Why It Works:

The British pound is highly sensitive to economic news, while the Japanese yen is seen as a safe haven during uncertainty. Together, they create a dynamic pair that’s both unpredictable and rewarding.

Love Lesson:

Passion fuels excitement, but it also comes with dangers. Like this pair, taking calculated risks can lead to big rewards.

3. AUD/USD: The Reliable Partners

Known as the “Aussie,” the AUD/USD pair represents trust and stability. Its movements are closely tied to Australia’s commodity exports and global risk sentiment.

Why It Works:

This pair offers steady performance, especially during active trading hours, and correlates strongly with commodity markets like gold.

Love Lesson:

Reliability doesn’t mean boring—it means consistent growth. Traders value AUD/USD for its flexible opportunities.

4. USD/JPY: The Yin and Yang

The USD/JPY pair showcases how opposites attract. The US dollar’s economic strength meets the Japanese yen’s reputation as a safe haven during global uncertainty.

Why It Works

This pair thrives on balance. It’s highly liquid, offers narrow spreads, and is often used for both hedging and speculative strategies.

Love Lesson:

Harmony comes from understanding opposing forces. In trading or relationships, balance creates a winning partnership.

5. Exotic Pairs: The Adventurous Match

Traders looking for something different may find thrilling opportunities in exotic pairs like USD/ZAR—US dollar/South African rand.

Why It Works:

Although exotic pairs involve higher volatility and wider spreads, their potential for impressive profits appeals to adventurous traders.

Love Lesson:

Growth happens outside your comfort zone. Like trading exotic pairs—bold moves, backed by preparations, can pay off.

Lessons from Great Partnerships 

Strong relationships and successful trading share key principles:

• Understand the Dynamics: Every currency pair has unique traits—know what drives them.

• Adapt to Change: Markets, like relationships, evolve. Be flexible and adjust your strategies.

• Manage Risks: No relationship or trade is without challenges. Proper risk management ensures long-term success.

Celebrate Perfect Pairs This Valentine’s Day 

This Valentine’s Day, embrace the harmony between love and trading. Whether you’re navigating the steady stability of EUR/USD or the thrilling highs and lows of GBP/JPY, each pair offers lessons in balance, understanding, and opportunity.

At Octa, we celebrate partnerships of all kinds—both in life and the Forex market. As you trade this season, remember that finding your perfect pair is about collaboration and growth.

Happy Valentine’s Day from Octa!

[Nairametrics]

The Governor of Nasarawa State, Abdullahi Sule, has disclosed that his undergraduate days in the United States were not easy.

Naija News reports that Governor Sule said his skill paved the way for him when he graduated without having a certificate.

Sule said that his vision for skill-based knowledge for youths in the state was driven by his experience in the country, stressing that corporations achieve their goals with skilled workers, not certifications.

He stated this while he spoke at the inaugural Engineer Abdullahi Sule Colloquium in Lafia, with the theme “Technological-Driven Entrepreneurship as a Panacea for Unemployment and Catalyst for Economic Growth and Development”.

The governor explained that worked as a welder at night and schooled during the day to survive as an undergraduate in the United States.

“When I was graduating from Government Technical College Bukulu in 1980, I got a scholarship to study at Indiana University in the US. Then I worked as a welder at night and attended school in the day time just to make money through skills I acquired.

“Throughout the period of my stay in the university as I worked in the night, and after graduation, the first job I got, nobody asked me to present any certificate. All they needed was my skills and my ability to do the job,” he said.

Sule stated that his government planned to train would-be retirees who were still agile with technical skills and financial support to invest in the skills acquired, adding that youths would be trained with starter packs for self-employment.

[NaijaNews]

The former Speaker of the Lagos State House of Assembly, Mudashiru Obasa, has filed a lawsuit against the Assembly and the new Speaker, Mojisola Meranda, before the Lagos State High Court in Ikeja, challenging the legality of his removal from office.

The suit, which is yet to be assigned to a judge, seeks a court declaration that his colleagues in the House acted unlawfully by removing him while the Assembly was on recess.

In the application dated 12 February 2025 and filed by his lawyer, Chief Afolabi Fashanu, SAN, the plaintiff claimed that he was removed from his position on 13 January 2025 by 36 lawmakers while he was out of the country.

The impeached lawmaker is seeking the following reliefs: an order of the court to fix a date for an accelerated hearing of the case and to shorten the time allowed for the defendants to respond with counter-affidavits or written addresses to seven days after the hearing.

Obasa also asked the court to limit the time for the plaintiff to file replies on points of law to three days.

His application is based on nine grounds, focusing on the interpretation of various sections of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), and the Rules and Standing Orders of the Lagos State House of Assembly.

The plaintiff challenges the constitutionality of the Lagos State House of Assembly’s sitting and proceedings during recess without the Speaker convening the House or delegating authority to another person.

“Public interest necessitates that this case be heard and resolved quickly to avoid disruption of legislative activities in the state,” Obasa argued.

He maintained that the court must urgently determine the legality of the Assembly’s current leadership, as it violates applicable laws and rules.

He further asserted that the court holds inherent powers to grant expedited hearings and impose time limitations.

No date has been fixed for the hearing.

Obasa was impeached on 13 January while he was out of the country by more than two-thirds of the 40-member legislative house over alleged misconduct and other offences.

His deputy, Mojisola Meranda, was immediately elected as the new Speaker, making history as the first female to lead the legislative body in the South-West state.

Obasa returned to a welcome rally at his residence in GRA, Ikeja, on 25 January, maintaining that he was not afraid of being impeached but insisted that due process had not been followed.

The former Speaker alleged that his removal was orchestrated while he was away and accused the Lagos State Commissioner of Police of facilitating the process.

He claimed that security agents, led by the police commissioner, invaded the Assembly complex and his homes in Agege and Ikeja, locking his family indoors with over 200 officers present.

Obasa also dismissed allegations of misappropriation.

[DailyPost]

Singer L.A.X has shared how he begged his girlfriend to stay after discovering she cheated on him.

In a conversation with Chude Jideonwo, L.A.X recounted the incident where his girlfriend returned home intoxicated, and he found evidence of nfidelity on her phone. 

Instead of confronting her angrily, L.A.X said he surprisingly found himself begging her to stay in the relationship.

“I was dating this girl, she came in drunk and I held her to the bed. She even threw up. I checked her phone and I saw, ‘I enjoyed this night. I think we should do this again.’

“As I showed her the phone, she just looked at me and said, ‘He’s just my friend. We just spent the night.’ Trust me, it was me that was now begging. I said we can work it out and she said, okay, don’t worry,” L.A.X recounted

Popular actress, Funke Akindele, has opened up about her passionate approach to love. She revealed that she is a lover girl who loves seriously and goes the extra mile for her lover.

Speaking in an interview with Saturday Beats, Akindele said, “I am a lover girl and I love seriously. Because I am a bit of an extremist, I go the extra mile. I can wake up tomorrow and buy my spouse a car. The green light for me is someone who pampers me and checks on me genuinely. I love a real and positive guy. I also love intelligent men.”

Reflecting on her personal journey, Akindele admitted there was a time when she almost gave up on love. Offering advice to others who may feel similarly disheartened, the ‘Everbody Loves Jenifa’ actress said, “I used to be like that. Don’t give up on anything in life but look at the brighter side of things. If you have given up on love, just take a chill pill and don’t force it. Don’t look for it; it will find you.”

Akindele also disagreed with critics who claim the industry is losing its quality storytelling. “I will never agree to that. We are creatives and we tell our stories from different angles. What is in my head is not in your head. There is no bad story; it is about how you execute it. Don’t forget, that is my economic power— the fact that I can tell my story how I want it. I am not tired of Nollywood stories; just tell your stories well,” she said.

Speaking on the secret to her remarkable success in Nollywood, Akindele noted, “It is just consistency and the fact that you need to study your audience and tell relatable stories and never get tired of it. For you to be outstandingly successful, you need to put in the hard work and not just the smart work.”

[Punch]

Nigerian music legend, Innocent Idiaba known with his several aliases has a trajectory that bears an uncanny resemblance to that of the Nigerian nation, if not, then in the instability of his romantic inclinations.

The first thing that draws a comparison between Innocent Idiaba and Nigeria is that of an identity crisis.

For any journalist following the triumphs and trials of Innocent Idiaba, a major issue is how to identify him. Innocent Idiaba first evolved with the moniker, 2Face. That byname first adopted in his early days in Enugu was to differentiate his double identity as a businessman and as an artiste.

From 2Face the name grew into Tuface as the musician sought a stylistic shade to his stature in the industry.

By 2016, having established himself in the industry, he transformed into 2Baba. However, it is remarkable that Tuface is what many of his followers continue to identify him with.

Google searches show that Tuface by far ranks above every other identity that the music star bears. So, some can dare say that given the fact that he is more popularly searched for as Tuface, a name that he has discarded, the musical icon may well be living in the glory of the past.

Only a few in the ruling All Progressives Congress, APC would disagree that Nigeria is not living in the glory of the past. With economic and political indicators alarming many, there is no doubt that Nigeria just like TuFace is also living in the glory of the past.

In an interview on Arise News Tv earlier this week, African Development Bank president, Dr Akiwunmi Adesina spoke of how he was able to travel to the United States with less than N500 in his pocket in the eighties.

That old glory of Nigeria was also seen by some of us who made night trips across Nigeria on good motorable roads. There were those of us who also saw bustling factories in Kano, Ikeja, Ogba. Such glories of the past were also seen when university undergraduates were served a quarter chicken for a ticket of 25 kobo.

The back and forth on Tuface’s identity also bears a resemblance to Nigeria and the back and forth with a National Anthem. An anthem is a song that binds a group, a society, state or nation.

In that respect, many will agree that Nigeria was stronger together as a nation in the past than today with ethnic jingoists taking centre stage in the polity.

After Nigeria discarded the colonial anthem, ‘Nigeria we hail thee’ in October 1978, it is significant that ideological rebels and student bodies in the heat of protest often resorted to that anthem to express their displeasure. For them singing the new anthem, “Arise o Compatriots” was reflective of submission to the authority.

After President Bola Tinubu railroaded the National Assembly to return to that colonial anthem in 2024, we have now seen those who in the spirit of rebellion rejected Arise o Compatriots now reprising the same Arise O Compatriots to express their rebellion.

However, what may have drawn out the comparison on Tuface and Nigeria is the instability in his dalliances.

Tuface presently has seven children from three women. It is remarkable that by the time he married Annie in 2012, one of the baby mamas already had three children for him. Another had two. The lady with two, who was actually the First Republic, has since covered up that “dirty” chapter of her life by marrying a pastor. 

They now have a thriving Christian ministry operating out of Lagos. US-based Pero Adeniyi, who was the Second Republic with three children for Tuface and from an elitist home was a recurring nightmare for Annie, the Third Republic.

While Annie, may have been Tuface’s longest republic, it now appears that like Nigeria’s Third Republic masterminded by General Ibrahim Babangida, it was a web of intrigues and deceit.

Just as Babangida forced the Third Republic on Nigeria for his interests, Tuface and Annie appeared to have coerced themselves into a Republic out of emotion.

Now about to enter his Fourth Republic with lawmaker, Natasha Osawaru, there is increasing scepticism on the prospects of this Fourth Journey. It cannot be otherwise given the official and unofficial tales of philandering credited to Tuface, an otherwise very nice, respectful and good fellow.

There are very few who believe that this Fourth Republic with Honourable Natasha Osawaru will last.

Natasha, daughter of Desmond Osawaru and Philomena (Igbinedion) Osawaru is the grand-daughter of powerful Benin chief, Chief Gabriel Igbinedion.

Her parents’ wedding about 35 years ago was officiated by Dr Benson Idahosa and broadcast live on television. Dr Idahosa had at that wedding warned against marrying for wealth. It is thus significant that such will not be said for Natasha or Tuface.

Philomena’s mother, Madam Maria Igbinedion, and father, Sir Gabriel were already divorced by the time the wedding took place.

So, for those giving dire warnings to Natasha about Tuface’s unstable love life, she undoubtedly has a history of marital discord in her lineage to know the dangers ahead.

It is worthy to note that at the commencement of Nigeria’s Fourth Republic, many who fought for democracy detached themselves believing that it will not last. That is why Gani Fawehinmi, Femi Falana and many other zealots kept away.

However, the Fourth Republic has now lasted more than 24 years and surprised many. So for sceptics of the Tuface-Natasha affair, they could well be surprised that this his Fourth Republic may endure!