SEC warns Nigerians against investing in Punisher coin
[NigerianEye - Nigeria] - 8/06/2025
The Securities and Exchange Commission (SEC) has warned Nigerians against investing in Punisher Coin, also known as Spun. In a notice on Saturday, the commission said its investigations showed that Spun is a meme coin and its promoters or issuers are not registered to operate in any capacity in the Nigerian capital market. The SEC said meme coins have no use case, value, or projects backing them. “The attention of the Securities and Exchange Commission (“The Commission”) has been drawn to several online publications advertising an unauthorized presale of Crypto coin termed “PUNISHER COIN” (…)
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