Bitcoin tumbles over exchange-closure fears

Bitcoin resumed its slide yesterday, dipping below $14,000 as the cryptocurrency’s dizzying drop from a record set 10 days ago intensified.

The latest blow to the world’s biggest cryptocurrency came from South Korea, where the government said it was eyeing options for stamping out a frenzy of speculation, including a potential shutdown of at least some exchanges.

Bitcoin fell as much as 9 percent to $13,828 overnight, erasing modest gains after the South Korean release, composite Bloomberg pricing shows. The cryptocurrency fluctuated near $14,000 as of 9:20 a.m. in New York. It’s now down 28 percent from the record $19,511 it reached on Dec. 18.

Bitcoin’s plunge comes after futures contracts started trading on CME Group’s exchange, giving investors new ways to bet on the digital coin’s price moves. The news from South Korea unnerved traders because the country has been ground zero  for a global surge in interest in bitcoin as its rally this year reached 1,600 percent, prompting the nation’s prime minister to worry over the impact on Korean youth.

Buhari’s wife visits injured son in hospital

•He hasn’t been flown abroad, says Presidency

•PDP, Fayose, Aso Rock workers pray for quick recovery

First Lady, Mrs. Aisha Buhari, yesterday, visited her son, Yusuf, at the Cedacrest Hospital, Abuja where he is being treated following injuries he sustained to his limbs and head. He was involved in a lone  power bike crash on Tuesday.

Aisha arrived the hospital located in the Gudu District of the Federal Capital Territory (FCT) dressed in a traditional attire and shawl, in a black SUV accompanied by security officials in the early hours of the day.

As soon as she arrived the hospital which was littered with police officers, Aisha went to the second floor after consultation with an official of the hospital.

APC: Why they want me out –Oyegun

National Chairman of the All Progressives Congress (APC), Chief John Odigie-Oyegun has revealed why he is being persecuted in the party.

Oyegun said he is being persecuted because of his loyalty to the present administration led by Muhammadu Buhari.

He disclosed this in Benin City, yesterday, at an event organised by the Benin National Congress, ( BNC), to honour his selfless and leadership style over the years.

 “I grew up in an environment where bringing disgrace to the family is the worst thing you can possibly do; even the family will be the first to disown you. 

“So, in all my life, this is the circumstance that has conditioned me. I do not do things that will not make  me sleep soundly at night. I do nothing that will appear as headline in any of the national dailies. 

“Yes, I have been through several trials, but, I have overcome them all.

“Why have I done so? Because, at the end of the day, whether detailed or forensic examination, you will not find that your own Oyegun has done something dishonorable. And so, with all the hue and cry, at  the end of the whole thing, when we sit down, and ask, ‘tell us what he has done?’ Behold, the whole situation fizzled out. 

“The only thing you can punish him for is loyalty. Edo people are loyal. We look at something, we make sacrifices to ensure that those hands are upheld and neat.”

Oyegun, however, called on Nigerians to be patient with the present administration in delivering the right and purposeful leadership for the country and noted that change  takes time, in consistence of applications and that Nigerians cannot afford to  go back to the old days.

In his welcome address, BNC President, Mr. Aiyemenkhue Edokpolo, said when the country was facing series of frightening existential challenges by ethnic groups, when President Muhammadu Buhari was away on medical trip, Chief Oyegun took epistemic steps to preserve the sanctity of the Presidency; protected the interest of Nigeria as one and indivisible country; and defended the founding values of his party- the APC.

Edokpolo said as a distinguished Bini man and humble son of Edo State, who has made landmarks in civil service and party politics, Oyegun deserves the honour, hence, the acceptance by the Binis to honour him as a role model.

SOURCE: THE SUN...