Author: Editor

Understanding Cryptocurrency IRAs The Internal Revenue Service (IRS) does not officially recognize a specific type of Individual Retirement Account (IRA) that is exclusively meant for cryptocurrencies. When people talk about a “cryptocurrency IRA” or “Bitcoin IRA,” they are referring to a self-directed IRA that includes digital assets like Bitcoin or Ethereum within its portfolio. Since 2014, the IRS has classified cryptocurrencies as property, which means they are taxed similarly to stocks, bonds, and other investment assets. However, investors cannot directly place cryptocurrencies into an IRA on their own. Instead, they must work with an IRA custodian who is authorized to…

As cryptocurrencies like Bitcoin gain more mainstream attention, retirees are beginning to consider how they might leverage their digital assets to fund their retirement. One potential strategy is using crypto loans—loans secured by Bitcoin or other cryptocurrencies—as a means of borrowing against their holdings. But is this a viable option for retirees? Let’s explore. What Are Crypto Loans? A crypto loan is a type of secured loan where you borrow money by using your cryptocurrency as collateral. Instead of selling your Bitcoin, you can pledge it to a lending platform in exchange for a loan. The loan terms typically depend…

When we have assets and debts, two conflicting situations arise. Our assets grow in value while our debts keep accumulating interest. Enter: self-paying crypto loans. Imagine a world where loans don’t accumulate interest. Instead, your asset growth automatically covers your debt payments. For example, your mortgage is paid off by the appreciation in your stock portfolio, and your car payments are covered by the returns from your high-yield savings account. Even your credit card balances are paid off through your real estate holdings, and all the while, you don’t need to sell any assets to make those payments. At first,…

Raila Appeals to the US to Reconsider USAID Funding Cuts Former Prime Minister Raila Odinga has made a heartfelt appeal to the United States, urging them to reconsider their decision to drastically reduce the funding for the U.S. Agency for International Development (USAID), an organization that has long been a vital source of aid for many countries, including Kenya. When U.S. President Donald Trump took office, he signed several executive orders, one of which froze foreign aid spending for 90 days. This freeze, which affected USAID’s global funding, triggered mixed reactions both within Kenya and worldwide. The decision sparked debates…

Former Health Cabinet Secretary Susan Nakhumicha has secured a new position in President William Ruto’s government, nearly nine months after she was removed from her previous role. In a statement released by State House Spokesperson Hussein Mohamed on Thursday afternoon, it was announced that President Ruto nominated Nakhumicha to serve as the Permanent Representative of Kenya to the United Nations Habitat in Nairobi. Alongside Nakhumicha, Ruto also nominated James Buyekane Muhati and Abdi Dubat Fidhow for the roles of Consul-General in Guangzhou, China, and Arusha, Tanzania, respectively. Additionally, Peter Tum was nominated as the Kenyan Ambassador to the Democratic Republic…

President Ruto Reshuffles Principal Secretaries & Nominates New Appointees President William Ruto has reshuffled his team of Principal Secretaries (PSs), making significant changes to the government’s structure. Six current PSs have been reassigned to new roles, and 14 new appointees have been nominated, including individuals aligned with former Prime Minister Raila Odinga. This reshuffle reflects the president’s aim to bring fresh perspectives into government and optimize its functioning. In an official statement shared by State House Spokesperson Hussein Mohammed on Thursday, it was announced that Amos Gathecha, who previously served in the Public Service docket, has been promoted to the…

In a recent turn of events, former Deputy President Rigathi Gachagua has hinted at the possibility of working with former Prime Minister Raila Odinga ahead of the 2027 general elections. Gachagua stated that “the door is not closed” on collaborating with Odinga to help strengthen the efforts of several opposition politicians who are determined to unseat President William Ruto. After his defeat in the 2022 presidential race, Odinga, the unofficial leader of the opposition, initially resisted Ruto’s administration but later chose to join forces with the President. He offered his support during Ruto’s unsuccessful bid for the African Union Commission…

Did Margaret Nduta Get Executed? Mudavadi Reveals Shocking Truth About Her Situation in Vietnam Foreign Affairs Cabinet Secretary Musalia Mudavadi has provided an update on the government’s efforts to prevent the execution of Margaret Nduta in Vietnam, shedding light on the progress made in her case. Mudavadi, speaking at a joint press conference with Dutch Foreign Affairs Minister Caspar Veldkamp in Nairobi on Wednesday, March 19, revealed that his ministry has been in constant contact with the Vietnamese authorities, working to stop the execution. The Cabinet Secretary mentioned that they had received official documents outlining the charges against Nduta from…

HELB CEO: 40% of Student Loan Disbursements Get Returned Due to Wrong Details The Higher Education Loans Board (HELB) CEO, Charles Monari, has revealed that a significant number of student loan disbursements fail due to incorrect details provided by beneficiaries. While speaking before the National Assembly Education Committee on Thursday morning, Monari highlighted that some students, especially those receiving funds via mobile money, often provide incorrect phone numbers, making it difficult for the board to complete transactions successfully. According to Monari, many students frequently change their mobile numbers, leading to discrepancies between the contact details they used during the loan…

Governor Sakaja Steps In to Support KMTC Student Hawking at Night Nairobi Governor Johnson Sakaja has come to the aid of Edna Mwango, a Kenya Medical Training College (KMTC) student, after her story was aired on Citizen TV. Mwango, who studies orthopaedic and trauma medicine, has been working as a hawker at night in Kisii to afford her school fees. In a statement shared on Thursday, March 20, Governor Sakaja announced that he would fully sponsor her education and provide upkeep support until she completes her studies. “I will take care of her school fees and ensure she has everything…