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Instablog9ja
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The Federal Government has declared Tuesday, October 1 a public holiday to commemorate the Nation’s 64th Independence Anniversary.
Permanent Secretary in the Ministry of Interior, Dr Magdalene Ajani in a statement on Saturday said the Minister of Interior, Dr. Olubunmi Tunji-Ojo, made the declaration on behalf of the Federal Government.
The minister congratulated Nigerians at home and abroad on the occasion. Dr. Tunji-Ojo also praised the patient and hardworking Nigerian men and women, stating that their sacrifices will not be in vain.
“Aligning himself with the theme for the Anniversary, the Minister reiterated the need for Nigerians to reflect on the labour of our heroes past and be inspired for the tasks ahead, realizing that a Nigeria of our dream can only be built when we unite. While wishing Nigerians a Happy Independence Day Anniversary, Dr. Tunji-Ojo urged the citizens to continue to be steadfast in nation-building”, the statement added.
Investopedia
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Stablecoin issuers could be looking at lower income as the Federal Reserve (Fed) kicked off its first rate cut cycle since 2020.
Each 50 basis point cut by the Fed could lead to a $625 million drop in total annual interest income for stablecoin issuers, according to a new report from digital asset data provider CCData.
Those hits could quickly add up as the Fed itself expects cuts totaling 50 basis points by the end of this year, and another 100 basis points by the end of next year.
Stablecoins are cryptocurrencies whose value is pegged to another cryptocurrency. Some of the most popular stablecoins have their value pegged to the U.S. dollar and keep a reserve in cash or equivalent investments—often U.S. Treasurys—to maintain that peg.
Centralized stablecoin providers, such as Tether (USDTUSD) and Circle (USDCUSD), have relied heavily on their holdings of U.S. Treasurys earning interest over the past few years as high interest rates drove up Treasury yields.
U.S. Treasurys make up the vast majority of reserves held by stablecoin issuers, at just over 80%. This amounts to holdings of nearly $125 billion worth of Treasurys.
Tether, the largest stablecoin by market cap, alone holds $93.2 billion worth of U.S. debt, which accounted for much of that digital asset company's $5.2 billion of profits in the first half of 2024, the CCData report said.
Bitcoin.com Director of Engineering Andrei Terentiev speculated on social media that lower interest rates could eventually push stablecoin providers and other financial institutions into riskier assets in an effort to earn a return on their reserves.
"With lower yields on safer assets, institutions often shift their focus toward 'risk-on' assets," Terentiev posted on the platform X. "Think stocks, crypto, and other investments that offer higher potential returns but come with greater risk," he wrote.
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Instablog9ja
2 hrs
9
Tongues wag as a lady pens an open letter to her future husband.
She said “dear future husband If I come over to your house, you don’t have to explain why you don’t have this or that. If you don’t have food or drinks, I’ll buy us some. If your home is messed up, I don’t care, I’ll help you clean it. If your TV is small, I don’t care, something is better than nothing. No cable, let’s play cards! No furniture, we can sit on the floor. You don’t have to feel bad or embarra§§ed it’s very normal. I’m your friend, I’m your family. I’m your woman”.
Instablog9ja
3 hrs
12
Analyst Serah has shared her frustration after an experience in the female restroom at a lounge.
She said she can’t go into a female restroom and she is seeing a bunch of g@ys on wigs and lipstick. She is of the opinion that their own restroom show be created for them because woman needed their space.
Instablog9ja
4 hrs
12
APC Chieftain Joe Igbokwe has said the men and women who will rescue Nigeria from self-inflicted p+ins and tears aren’t born yet.
He said this as he lamented and expresses his concerns over the rising cost of a bag of rice, which is N100,000 plus, despite the number of rice mill we have in Nigeria.
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Instablog9ja
5 hrs
12
Blogger Tosin Silverdam replies Bobrisky by asking him which case did he won?
He said he already instructed his lawyer months ago to drop the case. So he is wondering what he won.
Furthermore he said. It’s everyone that wanted to bring him down, is he a wall of Jericho? And it’s better he face the other issue ahead of him and he has always being calming he is connected and untouchable.
He has also not done anything special to him, because he reported his stories just like very other blogger does, so he is wondering what he is saying. Although the has blocked him on social media he is still stalking him
