Last week, she featured on the Year on TikTok 2023 – a review of the most popular TikTok trends, artists, creators and videos in Ireland.
The personal finance influencer, who was born in Nigeria and grew up in Ireland, also owns a UK healthcare business.
What did you learn about money while growing up?
Growing up in a Nigerian household, the value of money was ingrained in me from an early age.
My parents emphasised the importance of saving as a fundamental aspect of financial responsibility.
This lesson became particularly significant when I started working at my aunt’s salon after school at the age of 13. This exposed me to the realities of financial independence and the significance of hard work.
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I learned to budget and save a portion of my earnings, understanding that financial security requires discipline and planning.
The early exposure to the world of work and money management laid the foundation for a strong financial mindset that continues to guide me today.
When were you most broke?
Shortly after graduating from university with top honours. Just three months into my professional journey, I faced the harsh reality of being made redundant in Dublin.
The company I had joined went under, leaving me in a precarious situation.
With only €3,000 in savings and shouldering a significant portion of the rent in Blackrock with my partner, who was also contending with the financial strain, was an emotionally challenging time.
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Do Irish attitudes towards money differ from Nigerian attitudes?
In Nigerian households, there’s often a strong emphasis on saving and frugality. Money is openly discussed and considered an integral part of family conversations. In Irish culture, discussing money is somewhat of a taboo.
What is the biggest way you minimise your own spending?
By adopting a mindset of living below my means. As my income increased over time, instead of succumbing to lifestyle inflation, I consciously chose to keep my expenses in check. This allowed me to save significantly and prioritise long-term financial goals.
Do you own property?
I purchased a property in Dublin in May 2022. This was the result of strategic financial planning and dedication: for three years, I lived in Navan and paid considerably lower rent, allowing me to save a substantial portion of my salary.
What was your best ever investment?
I’ve dedicated a significant amount of resources to acquiring new skills and upskilling, and this investment has proven to be invaluable. This commitment to learning has opened up various opportunities for me: I mastered the art of creating content and turned it into a lucrative source of income, and I ventured into the healthcare sector and now proudly own a private ambulance company in London.
Do you still carry cash?
Carrying cash has become a personal strategy to manage my expenses more efficiently. By using cash, I can avoid credit card fees and have a clearer picture of my spending.
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What was your biggest financial mistake?
Getting swept up by the 2021 cryptocurrency frenzy. I’d underestimated how volatile the market could be for cryptocurrencies, and unfortunately, ended up losing a significant amount of money. It was a valuable lesson.
FM Sitharaman highlighted the ongoing discussions within the finance ministry and among various regulators since 2020 Image: Hardik Chhabra/ The India Today Group via Getty Images
In a recent interview with businessline, India’s Finance Minister Nirmala Sitharaman shared her perspectives on the future of cryptocurrency regulation in India. She emphasised the need for a global consensus and collaboration to manage this borderless technology effectively.
Recognising the growing importance of crypto assets, the Finance Act 2022 introduced tax regulations for these assets in India. Under the Income Tax Act of 1961, they are classified as “virtual digital assets” (VDAs). According to Section 115BBH, income from the transfer of VDAs is taxed at a flat rate of 30 percent. Taxable events include converting digital assets to fiat currency, trading between different types of VDAs, and using them to purchase goods and services.
Starting July 1, 2022, a 1 percent Tax Deducted at Source (TDS) is also applied to Virtual Digital Assets (VDAs) transfers. This TDS applies to transactions exceeding Rs10,000 and Rs50,000 for specified persons.
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Crypto exchanges handle TDS deductions on sell transactions, while buyers are responsible for peer-to-peer deals. Adhering to TDS obligations ensures compliance and avoids potential financial or legal issues.
FM Sitharaman highlighted the ongoing discussions within the finance ministry and among various regulators since 2020, even before India assumed the G20 Presidency. The Reserve Bank of India (RBI) has consistently expressed concerns over the stability of cryptocurrencies, aligning with the government’s cautious stance. The Securities and Exchange Board of India (SEBI) has also contributed to the discourse, suggesting that multiple regulators should oversee the sector.
During India’s G20 Presidency, significant efforts were made to foster a global understanding of cryptocurrency regulation. The International Monetary Fund (IMF) and the Financial Stability Board (FSB) were brought into the conversation, and well-researched papers supported extensive discussions.
Sitharaman reiterated that a regulation confined to a single country would be insufficient for a technology that inherently transcends borders. She firmly believes effective regulation can only be achieved through a globally coordinated effort.
Shashank is the founder of yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash
Memecoins took center stage on one of the best days for the cryptocurrency market, with the likes of Pepe PEPE/USD and Bonk BONK/USD turning out to be the highest gainers.
What Happened: The market rallied on higher expectations of an Ethereum ETH/USD spot ETF approval by the SEC, resulting in the highest market cap growth in three months, according to Santiment.
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Price Action: While the rally was spurred by developments around Ether, memecoins stole the highlight yet again, as popular coins like PEPE and BONK grew by 27% and 23% respectively, according to data from Benzinga Pro.
Ethereum ETH/USD-based PEPE rose to an all-time high of $0.000011, while the SolanaSOL/USD-based meme coin BONK bumped to a two-month high of $0.000031. The rest of the meme coin market also reported significant gains.
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Cryptocurrency
Gains +/-
Price (Recorded at 10 p.m. EST)
BonkBONK/USD
+27%
$0.000031
PepePEPE/USD
+23%
$0.000011
FlokiFLOKI/USD
+10.48%
$0.000211
Pepe’s trading volume surged to $2.16 billion in the last 24 hours, exceeding bigger coins with larger market caps like Dogecoin DOGE/USD and XRP XRP/USD, Bonk clocked a volume of $850 million, trumping Shiba InuSHIB/USD
Why It Matters: The latest rally reflected a strong appetite for meme coins, the class of cryptocurrencies that has witnessed significant gains in the year.
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Social analytics platform LunarCrush highlighted bullish social media discourse around the two coins, with 82% of all BONK posts, and 80% of PEPE posts being positively weighted.
Such degrees of optimism could potentially help sustain the rally for the two meme coins.
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Image via Shutterstock
Read Next: Bitcoin, Ethereum, Dogecoin Shoot Up On One Of The Best Days For Crypto In 2024 Amid Ether ETF Approval Buzz: Analyst Flags ‘Robust’ US Investor Demand for King Crypto
Market News and Data brought to you by Benzinga APIs
In a recent video titled “Humility,” Charles Hoskinson, Co-Founder and CEO of IOG (Input Output Global), shared his insights on humility, the current political landscape in the United States, and its implications for the cryptocurrency industry. This blog post delves into Hoskinson’s key points, especially his views on former President Donald Trump and current President Joe Biden, as well as his call to action for the 2024 election.
Hoskinson starts by addressing a Reddit post that critiques him for lacking humility. He clarifies that while he strives to be a decent person who acknowledges others’ contributions, true humility involves recognizing the value of viewpoints other than one’s own. He admits that his logical, mathematical mindset can sometimes obscure the complexities of real-world perspectives.
The Reddit post suggests that Hoskinson struggles with admitting the validity of differing viewpoints. It argues that his approach to logical reasoning might lead to a misunderstanding of the nature of reality and other perspectives. Hoskinson agrees that humility is about recognizing potential misperceptions and valuing other viewpoints.
Hoskinson criticizes the Biden administration for its definitive anti-crypto stance. He attributes this position to a deal made between Biden and Senator Elizabeth Warren during the 2020 presidential campaign. Warren, a staunch opponent of cryptocurrency, was given control over domestic treasury policy, leading to the appointment of many anti-crypto officials in the Treasury Department.
He highlights the administration’s systematic efforts to unbank cryptocurrency companies, evidenced by Wells notices against major players like Robinhood, Coinbase, Uniswap, Kraken, and Binance. Hoskinson points out a clear trend of hostility towards the industry.
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Despite the cryptocurrency industry’s extensive efforts to engage with the Biden administration through meetings, open letters, and private discussions, Hoskinson believes the administration remains unyielding and duplicitous. While claiming to be open to dialogue, the administration has aggressively worked to undermine the industry.
Hoskinson asserts that the Biden administration’s policies have created significant challenges for the cryptocurrency industry, including driving businesses abroad and treating crypto users as criminals.
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Hoskinson contrasts the Biden administration’s hostility with the relatively neutral stance of the Trump administration. While the Trump administration did not provide regulatory clarity, it did not exhibit the same level of adversarial actions toward the cryptocurrency industry.
Hoskinson suggests that a potential Trump victory in the next election might not lead to the same level of hostility towards the industry as seen under Biden. However, he emphasizes the importance of electing pro-crypto candidates regardless of their party affiliation.
Hoskinson endorses Robert F. Kennedy Jr. (RFK) for the presidency, arguing that the American people deserve better leadership than what is currently offered by both Trump and Biden. He believes RFK represents a much-needed alternative.
Hoskinson stresses the importance of the 2024 election for the future of the cryptocurrency industry. He argues that the political consequences of opposing cryptocurrency should be made clear. If anti-crypto stances result in electoral losses, politicians will be forced to reconsider their positions.
Hoskinson argues that the issue at hand is not about humility but about policy. The cryptocurrency industry has consistently approached the government with humility, presenting well-reasoned arguments and data. However, the administration’s actions suggest a predetermined decision to oppose cryptocurrency, regardless of the industry’s efforts.
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In his closing remarks, Hoskinson calls on the cryptocurrency community to vote for pro-crypto candidates in the 2024 election, regardless of their political affiliation. He emphasizes the importance of preserving liberty and freedom and urges the community to fight for a better future.
