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2027 Presidency: ‘I Can Almost Guarantee That Peter Obi Won’t Run Under Labour Party’ – Ozigbo
AFOLABI
A former governorship candidate in Anambra State, Valentine Ozigbo, has asserted that if Peter Obi will contest in the forthcoming 2027 presidential election, he will not do so on the platform of the Labour Party (LP).
Recall that Peter Obi was the presidential flagbearer of the Labour Party in the 2023 general election.
Speaking during an interview on Tuesday on Channels Television’s Politics Today programme, Ozigbo boldly declared that Obi would not run for president on LP if he chose to join the forthcoming presidential race.
During the interview, Ozigbo remarked on a recent comment by the former Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu.
He also defended his move from the LP to the ruling All Progressives Congress (APC).
“I know Mugalu is an elder compared to me; otherwise, I would have said to him what a child sees standing up. What an elder sees sitting down, a child can’t even see standing up.
“So that’s his choice, and I believe it won’t be long before he comes to the same conclusion with me and I wish the Labour Party well. I’m not here really to demarcate the Labour Party, but I am saying to you and to everyone, I personally don’t see a future in the Labour Party, that’s my judgment and I’m happy to live with it and I would love to be proven wrong. So if he finds comfort and so be it,” Ozigbo said.
When asked to defend the remark by some persons that he (Ozigbo) has a character of use and dump, he said: “You saw the PDP, used it, dumped it, used the Labour Party, used it, dumped it, you’re moving to the APC. Actually, it’s a very wrong way to characterize this.
“It’s rather about somebody who is insistent on right process and due process.
“Now we are also talking about leaving MPP to APGA, to PDP, to the Labour Party, and I can almost guarantee that if he (Peter Obi) wishes to run for election, it will not be under the Labour Party. I can almost guarantee that.
Really? the interviewer, Seun Okinbaloye, asked.
“I am not his spokesperson, so maybe,” Ozigbo replied.
Okinbaloye reiterated, but you are close to him? “Maybe I’m wrong, but I am a witness to a lot of discussions around coalitions and which I can’t tell you my own, you know, optimism about that. But the point here is that when you get into a party, I enjoyed my time in PDP,” Ozigbo replied.
He added: “They granted us free and fair primary, and I was proud of what then Uche Secundus did. When the later leadership showed up, a lot of things changed in PDP and part of the reason why they also have not done well in recent times.
“And so when Peter Obi left PDP to join Labour Party, because what I do is purposeful politics, not transactional politics, I thought that the best decision was to join Peter Obi to support him and I can boast to being one of the biggest and most impactful supporters he had in that election coming out of South East.
And so no regrets for that support. I was proud of whatever effort I put in there because I believed in this country.
“I wanted to sacrifice for this country.
“And to now suggest that if Labour is dying, I should die with Labour would be very wicked of anybody. And that’s the point I’m making. Over time, you will see what I’m saying.
“If you haven’t seen it now, in fact, if you’re a politician, if you’re a savvy politician, you would have noticed by now. I mean, how can you explain a performance in a door? How do you explain that?”
The former Speaker of the Lagos State House of Assembly, Mudashiru Obasa, has tendered an apology to the Department of State Services (DSS) and the Nigerian Police Force over the altercation that occurred at the Lagos Assembly Complex on February 17, 2025.
In a statement issued on Thursday, February 27, Obasa described the assault on security operatives as “highly regrettable”, adding that the incident should never have happened.
The apology comes just hours after Obasa returned to the Lagos Assembly complex, where he declared himself Speaker despite opposition from a majority of lawmakers.
Obasa, who was removed from office in January, had earlier led a controversial plenary session with only a handful of legislators in attendance.
The statement reads, “On behalf of the Lagos State House of Assembly, I hereby apologise to the security agencies, for the embarrassment caused them, and in particular the assault on security operatives of the DSS as widely circulated in videos.
“We value you and the work you are doing. You are the ones we call on in our time of need for the protection of lives and property in and around the assembly and Lagos state. It is clear that the assembly requested for additional support and your presence on this particular day.
“This is what we have always done in the past. It is regrettable that security operatives of the DSS had to be assaulted in the hallowed chambers of our State Assembly. I hereby apologise unreservedly on behalf of the entire Assembly.
“The Lagos Assembly and Security agents have always enjoyed a cordial and respectful relationship, and we have always called upon you when there is a need to maintain law and order. We hope that this incident will not damage the good relationship that we have built and enjoyed over the years.
“We plead on behalf of those who have been charged to court and look forward to an amicable settlement of this matter to foster our continued partnership for the peace of our dear state and at large.”
Bayero: ‘We Are Calling On President Tinubu To Remove The Emir He Enthroned’ – Kano Government
AFOLABI
The Kano State Government has called on President Bola Ahmed Tinubu to order the removal of Emir Aminu Ado Bayero from the Nasarawa Palace, alleging that certain individuals are exploiting his continued presence to fuel unrest in the state.
Speaking at the Kano Government House during the distribution of relief materials provided by Tarauni Federal Constituency Representative, Kabiru Dahiru Sule, the Deputy Governor, Aminu Abdussalam Gwarzo, reiterated the administration’s stance and urged the president to intervene immediately.
Naija News reports that Gwarzo did not mince words, calling on Tinubu to relocate the emir he had installed and restore peace in Kano.
“We are calling on President Bola Ahmed Tinubu to remove the emir he enthroned and kept in a graveyard.
“The people of Kano, especially the youth, are tired of this nonsense. It is shocking that in a democratic setting, security forces are being deployed to fire teargas at peaceful protesters, with some reports even alleging the use of live ammunition,” Gwarzo said.
He further criticized the deployment of military personnel across the city, stating, “In the evening, military vehicles patrolled the city, even parking in front of my house. But we want to make it clear that there is no intimidation. This is a democracy, and democracy must be upheld, whether some people like it or not.”
Kano Government Backs Protests Against Emir Bayero
The deputy governor justified the recent protests by Kano residents, emphasizing that peaceful demonstrations are a fundamental democratic right.
He condemned security forces for suppressing protesters and making arrests, insisting that Kano residents have the right to demand the removal of Emir Bayero.
Gwarzo said, “The president should remove the emir he appointed and take him to his own state. Kano already has an emir, and that’s Muhammadu Sanusi II. Today, regardless of who you are, even if you are the ‘Emir of the World,’ you cannot appoint an emir in Kano unless you are Governor Abba Kabir Yusuf.”
He accused powerful political forces of attempting to destabilize the Kano government by keeping Emir Bayero in the Nasarawa Palace. He emphasized that the law facilitated Sanusi II’s reinstatement and must be respected.
“The same law that facilitated the appointment of the former emir has reinstated Muhammadu Sanusi II. The rule of law must be upheld, and no individual or institution should attempt to obstruct it,” he stated.
The Kano State Government insists that President Tinubu must act swiftly to prevent further escalation of tensions and ensure that democratic principles are upheld in the state.
Nollywood actress and producer Funke Akindele has described herself as self-made.
The movie star stated that she owes her success in the film industry to none other than God.
Speaking at the Media Independent Practitioners Association of Nigeria, MIPAN, 2025 Media Sales Conference in Lagos, Akindele explained that her success in the film industry was due to her hard work and dedication.
She, however, admitted that veteran singer D’banj played a significant role in her career success.
She said, “Nobody made me a star, only God. I wrote my script, and that was it. The first ‘Jenifa’ was released in 2009, and that was the turning point.
“Amidst the buzz, a club owner reached out to host me at his club, and I met D’banj there. He asked what I was doing with the ‘Jenifa’ brand. I said, ‘I have moved on. I will do another thing.’ He said, ‘No. You have to milk it. It should not go like that. That’s a brand. Go and write another script.’ He gave me some money, and I went back and continued writing.”
Funke Akindele came into the limelight after starring in the popular sitcom I Need to Know, which ran from 1998 to 2002. Her big break came in 2008 when she starred in the movie Jenifa.
She holds the record for the highest-grossing producer in Nigerian cinema.
[DailyPost]
Kano State Governor, Abba Yusuf, has set up a committee to probe reports of salary deductions, underpayment, and non-payment affecting civil servants in the state.
He declared such acts as gross violation of workers’ rights and a betrayal of public trust.
This is as he grants the committee a seven-day ultimatum to file its report.
In a statement issued on Thursday by his spokesperson, Sunusi Tofa, Yusuf condemned the irregularities and vowed to hold those responsible accountable.
“Governor Yusuf Orders Probe of Salary Deductions to Kano Civil Servants,” the statement read, emphasising the governor’s stance against the issue.
“This administration will not tolerate any act of injustice against our workers.
“Anyone found complicit in this reprehensible act will face the full wrath of the law,” Yusuf declared.
To address the situation, the governor has inaugurated a high-powered investigative committee tasked with auditing the state’s payroll from October 2024 to February 2025 to determine the extent of the discrepancies.
The committee is expected to identify affected workers, assess the financial implications, and recommend corrective and punitive measures.
The seven-member committee, chaired by Abdulkadir Abdussalam, Commissioner for Rural ans Community Development and the immediate past State Accountant General, consists of top government officials and financial experts.
Members include:
- Abdulkadir Abdussalam – Chairman (Commissioner, Ministry for Rural & Community Development)
- Dr. Bashir Abdu Muzakkari – Member (Special Adviser on Digital Economy)
- Dr. Aliyu Isa Aliyu – Member (Director-General, Kano State Bureau of Statistics)
- Dr. Hamisu Sadi Ali – Member (Director-General, Kano State Debt Management Office)
- Hajiya Zainab Abdulkadir – Member (Director, Kano State Computer Centre)
- Aliyu Muhammad Sani – Secretary (Director, Research & Evaluation, REPA Directorate, SSG’s Office)
- Ummulkulthum Ladan Kailani – Co-Secretary (Senior Assistant Secretary (AGS), Admin. & General Services Directorate, SSG’s Office)
“The committee has been given seven days to submit a comprehensive report detailing those responsible, the scale of financial malpractice, and long-term solutions to prevent future occurrences,” the statement read.
Yusuf reaffirmed his administration’s commitment to transparency, fairness, and timely salary payments, warning that culprits will face severe consequences.
“The era of shortchanging our workers is over. This is a government of accountability, and no one will be spared if found guilty,” he asserted.
The committee was inaugurated by the Secretary to the State Government, Alhaji Umar Ibrahim, on behalf of the governor.
[Punch]
The embattled former Speaker of the Lagos State House of Assembly, Mudashiru Obasa, is currently presiding over plenary with four other members at the chamber.
The plenary is being conducted after the doors to the chamber were forced open by security personnel.
As at 3.pm, the plenary commenced and was still on-going till about 3.30pm.
Meanwhile, over 26 other members of the assembly were around but refused to enter the chamber in apparent loyalty and support to the substantive Speaker, Mojisola Meranda.
Obasa had earlier, reportedly, announced his return as Speaker, arguing that while impeachment is a constitutional and democratic process, it must be carried out following laid down procedures.
He was quoted as saying, “I’ve never been removed. Impeachment or removal is democratic and constitutional, but in doing that, you must follow due process. I am not against that. If I do that, then I am not democratic.”
Obasa was removed as speaker on January 13 while he was abroad, with Mojisola Meranda swiftly installed as his successor.
He has challenged his removal, maintaining that he is still the rightful speaker of the house.
[Vanguard]
Rema, Mercy Chinwo, D’banj, and Ayra Starr were among the Nigerians who won big at the 2025 Trace Awards.
Rema took home two prestigious awards ‘Album of the Year’ for ‘Heis’ and ‘Best Male Artist’ while Ayra Starr was crowned the ‘Best West African Artist’.
Chinwo won the ‘Best Gospel Artist’ award for her soulful and uplifting music while D’banj secured the ‘Lifetime Achievement Award’.
Other notable Nigerian winners include P.priime who won the ‘Best Producer’ category for ‘MMS’ while Meji Alabi claimed the ‘Best Music Video’ award for Rema’s ‘DND’.
This year’s edition of Trace Awards took place at the Mora Resort in Zanzibar, Tanzania on Wednesday, February 26.
Below is the full list of winners (in bold):
Global Awards
Song of the Year
- Titom & Yuppe – ‘Tshwala Bam’ (South Africa)
- Tyla – ‘Jump’ (South Africa)
- Tyler ICU – ‘Mnike’ (South Africa)
- Tamsir x Team Paiya – ‘Coup du Marteau’ (Ivory Coast)
- Asake & Travis Scott – ‘Active’ (Nigeria)
- Tems – ‘Love Me Jeje’ (Nigeria)
- Burna Boy – ‘Higher’ (Nigeria)
- Rema & Shallipopi – ‘Benin Boys’ (Nigeria)
- Diamond Platnumz – ‘Komasawa’ (Tanzania)
Album of the Year
- Rema – Heis (Nigeria)
- Burna Boy – I Told Them (Nigeria)
- Asake – Lungu Boy (Nigeria)
- Josey – Vibration Universelle (Ivory Coast)
- Amaarae – Fountain Baby (Ghana)
- King Promise – True To Self (Ghana)
- Stonebwoy – 5th Dimension (Ghana)
- Toofan – Stamina (Togo)
Best Collaboration
- Tamsir & Team Paiya – ‘Coup du Marteau’ (Ivory Coast)
- Titom & Yuppe & Burna Boy – ‘Tshwala Bam’ (Remix) (South Africa/Nigeria)
- Neyna & MC Acondize – ‘Nu Ka Sta Para’ (Cape Verde)
- Kocee ft. Patoranking – ‘Credit Alert’ (Cameroon/Nigeria)
- Asake & Wizkid – ‘MMS’ (Nigeria)
- Rema & Shallipopi – ‘Benin Boys’ (Nigeria)
- Odumodublvck & Black Sherif – ‘Woto Woto Seasoning’ (Ghana)
Best Music Video
- Meji Alabi – Rema ‘DND’ (Nigeria)
- TG Omori – Kizz Daniel & Davido ‘Twe Twe’ (Nigeria)
- Director Folex – Zuchu feat Innoss’ B ‘Nani’ (Remix) (Tanzania/DRC)
- Nabil Elderkin – Tyla ‘Jump’ (South Africa)
- Kmane – Ayra Starr ‘Commas’ (Nigeria)
- Seoute Emmanuel – Toofan ‘C Pas Normal’ (Togo)
- Ach’B – Innoss’ B ‘Sete’ (DRC)
- Edgar Esteves – Asake & Wizkid ‘MMS’ (Nigeria)
Best Dancer
- Makhadzi (South Africa)
- Ikorodu Boys (Nigeria)
- Dancegod Lloyd (Ghana)
- Incredible Zigi (Ghana)
- Kamo Mphela (South Africa)
- Telminho (Angola)
- Ordinateur (Ivory Coast)
- Issac Kalonji (Democratic Republic of Congo)
Best DJ
- DJ Moh Green – ‘Kelele’ (Algeria)
- Tyler ICU – ‘Mnike’ (South Africa)
- Uncle Waffles – ‘Wadibusa’ (South Africa)
- DJ Tunez – ‘Apala Disco Remix’ (Nigeria)
- DJ Nelasta – ‘Eros’ (Angola)
- DJ Spinall ft. Tyla & Omah Lay – ‘One Call’ (Nigeria)
- DJ Neptune ft. Qing Madi – ‘Honest’ (Nigeria)
- DJ Maphorisa – ‘Mnike’ (South Africa)
- Kabza De Small – ‘Imithandazo’ (South Africa)
Best Hip Hop Artist (sponsored by Hot 97)
- Didi B (Ivory Coast)
- Nasty C (South Africa)
- Odumodublvck (Nigeria)
- Suspect 95 (Ivory Coast)
- Sarkodie (Ghana)
- Young Lunya (Tanzania)
- Maglera Doe Boy (South Africa)
Pan-African Awards
Best Global African Artist
- Diamond Platnumz (Tanzania)
- Tyla (South Africa)
- Tyler ICU (South Africa)
- Fally Ipupa (Democratic Republic of Congo)
- Burna Boy (Nigeria)
- Asake (Nigeria/USA)
- Rema (Nigeria)
- Ayra Starr (Nigeria)
Best Male Artist
- Rema (Nigeria)
- Dlala Thukzin (South Africa)
- Fally Ipupa (Democratic Republic of Congo)
- Diamond Platnumz (Tanzania)
- Asake (Nigeria)
- Burna Boy (Nigeria)
- Wizkid (Nigeria)
- Stonebwoy (Ghana)
Best Female Artist
- Tyla (South Africa)
- Makhadzi (South Africa)
- Chelsea Dinorath (Angola)
- Josey (Ivory Coast)
- Ayra Starr (Nigeria)
- Tems (Nigeria)
- Yemi Alade (Nigeria)
Best Live Performance
- Fally Ipupa (DRC)
- Ayra Starr – 21: The World Tour (Nigeria)
- Burna Boy – I Told Them (Nigeria)
- Tyla (South Africa)
- Yemi Alade – African Rebel Tour (Nigeria)
- Didi B – Mojo Trone Tour (Ivory Coast)
- Diamond Platnumz – Wasafi Festival (Tanzania)
Best Producer
- P.Priime – ‘MMS’ (Nigeria)
- Kelvin Momo – ‘Sewe’ (South Africa)
- DJ Maphorisa – ‘Mnike’ (South Africa)
- Tam Sir – ‘Coup du Marteau’ (Ivory Coast)
- Sarz – ‘Happiness’ (Nigeria)
- Jae 5 – ‘Perfect Combi’ (Ghana)
- KDDO – ‘For Certain’ (Party Next Door) (Nigeria)
- London – ‘Ozeba’ (Nigeria)
- Kabza De Small – ‘Imithandazo’ (South Africa)
Best Gospel Artist
- Mercy Chinwo (Nigeria)
- Spirit of Praise 10 (South Africa)
- KS Bloom (Ivory Coast)
- Ada Ehi (Nigeria)
- Bella Kombo (Tanzania)
- Israël Mbonyi (Rwanda)
Regional Awards
Best Artist Eastern Africa
- Bien (Kenya)
- Diamond Platnumz (Tanzania)
- Joshua Baraka (Uganda)
- Harmonize (Tanzania)
- Rophnan (Ethiopia)
- Marioo (Tanzania)
- Zuchu (Tanzania)
- Nandy (Tanzania)
Best Artist (Western Africa Anglophone)
- Ayra Starr (Nigeria)
- Seyi Vibez (Nigeria)
- Adekunle Gold (Nigeria)
- Tems (Nigeria)
- Chike (Nigeria)
- Simi (Nigeria)
- KiDi (Ghana)
Best Artist (Southern Africa)
- Tyler ICU (South Africa)
- Titom & Yuppe (South Africa)
- De Mthuda (South Africa)
- Inkabi Zezwe (South Africa)
- Dlala Thukzin (South Africa)
- Tyla (South Africa)
- Uncle Waffles (South Africa)
Best Artist Francophone Africa
- Josey (Ivory Coast)
- Didi B (Ivory Coast)
- Tidiane Mario (Congo)
- Gaz Mawete (Democratic Republic of Congo)
- Wally B. Seck (Senegal)
- PhillBill (Cameroon)
Best Artist (Lusophone Africa)
- Chelsea Dinorath (Angola)
- Calema (São Tomé and Príncipe)
- Landrick (Angola)
- Twenty Fingers (Mozambique)
- Mr. Bow (Mozambique)
- Soraia Ramos (Cape Verde)
Best Artist (Tanzania)
- Nandy (Tanzania)
- Mbosso (Zanzibar)
- Diamond Platnumz (Tanzania)
- Zuchu (Zanzibar)
- Marioo (Tanzania)
- Alikiba (Tanzania)
- Jux (Tanzania)
- Harmonize (Tanzania)
International and Diaspora Awards
Best Artist (Europe)
- Joe Dwet File (France/Haiti)
- Central Cee (United Kingdom)
- Kalash (France/Martinique)
- Darkoo (United Kingdom)
- Jungeli (France)
- Franglish (France)
- Aya Nakamura (France/Mali)
Best Artist (Brazil)
- Duquesa (Brazil)
- Racionais MC’s (Brazil)
- MC IG (Brazil)
- Péricles (Brazil)
- Tasha & Tracie (Brazil)
- Ludmilla (Brazil)
Best Artist (Caribbean)
- Lea Churro (Reunion Island)
- Venssy (French Guiana)
- Mathieu White (Guadeloupe)
- Meryl (Martinique)
- Nesly (French Guiana)
- Shenseea (Jamaica)
- Kenny Haiti (Haiti)
Best Artist (Indian Ocean)
- Barth (Reunion)
- Goulam (Comoros)
- PLL (Reunion)
- Kalipsxau (Reunion)
- Léa Churros (Reunion)
- Jamily Jeanne (Mauritius)
Lifetime Achievement Award
- D’Banj
[TheCable]
The quick laundering of over $400 million from Bybit’s hack suggests North Korea may have expanded its operations, analysts say.
Over $400 million from Bybit‘s $1.46 billion incident was laundered in just days, with analysts at blockchain forensic firm TRM Labs now raising serious concerns that North Korea may have expanded its laundering operations.
In a Feb. 27 blog post, the analysts pointed out that Bybit’s attackers moved nearly half a billion in less than a week, using intermediary wallets, crypto swaps, decentralized exchanges, and cross-chain bridges to hide the trail.
“This rapid laundering suggests that North Korea has either expanded its money laundering infrastructure or that underground financial networks, particularly in China, have enhanced their capacity to absorb and process illicit funds.”
TRM Labs
The analysts note that North Korean hackers typically use crypto mixers to hide stolen funds before cashing out. But the scale of the Bybit incident has forced them to adopt new methods. Instead of mixers, they are now using multiple wallets and decentralized platforms to obscure the money trail.
Initially, some stolen Ethereum was sent through BNB Chain and Solana. Now, most of it has been sent to the Bitcoin network. Despite the quick laundering, much of the Bitcoin remains untouched, suggesting the attackers are preparing for large-scale liquidation through OTC networks, the analysts suggest.
Bybit lost $1.46 billion in a multi-stage attack, which security experts link to Safe Wallet. The attackers reportedly compromised a Safe{Wallet} developer’s device, tricking Bybit’s Safe wallet owner into signing a malicious transaction.
[Crypto News]
Ether, XRP Down 5% as Crypto’s Painful Week Continues; APT Jumps 10% Amid Aptos ETF Registration in Delaware
Admin
Ether (ETH) continued its multi-day slide on Thursday with a 7% drop in the past 24 hours as the prolonged crypto sell-off showed no signs of a pause.
Bitcoin (BTC) was trading between $89,000 to $82,500 in U.S. trading hours on Wednesday, staging a slight recovery in early Asian hours to just over $86,000. The broader market tracked by CoinDesk 20 (CD20), a liquid index tracking the largest tokens, fell over 3%.
Major tokens XRP, BNB Chain’s BNB, Cardano’s ADA and dogecoin (DOGE) slumped as much as 4% — with bullish bets on futures tracking majors recording over $600 million in liquidations.
Litecoin’s LTC and Aptos’ APT were among the few tokens in green, rising over 10% each. APT rose as a “BITWISE APTOS ETF” was registered in Delaware, USA, in addition to rumors of a Litecoin ETF. However, traders remain muted on prospects of a prolonged rally in LTC.
“Its unlikely that institutional investors would have long-term conviction in the Bitcoin clone, as it offers no yield, utility, or organic demand outside of ETF approval speculation,” Ben Yorke, WOO VP of Ecosystem, told CoinDesk in a Telegram message.
“Would likely be a ‘sell the news’ event, as investors would look to rotate into more topical trends and future ETF rumors,” Yorke added.
Losses in crypto markets mirrored those in U.S. equities after lesser-than-expected earnings from technology stalwart Nvidia failed to wow investors.
Separately, a New York Fed research indicated President Donald Trump’s latest tariffs on imports from China impact the American economy higher than expected — with data showing an apparent discrepancy in U.S. imports from China based on reported figures from both countries.
Market watchers await macroeconomic cues for a bitcoin rally, meanwhile.
“The Fed is not a player at this juncture as rate cuts are likely to be muted against sticky inflation, while the aggressive US administration will continue to put geopolitical tensions at the forefront,” Chris Yu, Co-Founder and CEO of SignalPlus, told CoinDesk in a Telegram message.
“Crypto-friendly policies and frameworks will likely take some time before they materialize into tangible frameworks, while a fall in implied BTC volatility with falling prices is a negative sign that speculators have started to throw in the towel on higher prices in the near term,” Yu added.
[CoinDesk]
Ripple Labs is working to expand the XRP Ledger’s decentralized finance (DeFi) capabilities with a clear roadmap for 2025. A key part of this roadmap is the addition of decentralized identity (DID) and credential-based verification, allowing for permissioned exchanges and decentralized markets that meet regulatory standards. This is designed to enable financial institutions to participate securely in the decentralized space while ensuring compliance with regulations like AML and KYC.
Ripple is also focusing on tokenization through the XRP Ledger, enabling tokenized real-world assets (RWAs) to be traded on the blockchain. Multi-purpose tokens (MPTs) are being developed to represent various financial products, such as bonds or structured assets, and provide more flexibility than traditional tokens. The platform’s goal is to bridge traditional finance and blockchain, offering a way to tokenize and trade assets with ease.
A significant part of Ripple’s strategy includes the development of a permissioned decentralized exchange (DEX), where tokenized RWAs can be traded. This exchange will utilize XRP Ledger’s decentralized identifiers to integrate compliance checks into smart contracts, ensuring all participants meet regulatory requirements. Along with a credit-based DeFi lending protocol, these initiatives aim to position the XRP Ledger (XRPL) as a secure, scalable platform for institutional use in decentralized markets.
Ripple’s plans also include expanding XRPL’s programmability. The introduction of "Extensions" will allow developers to create customized features like automated market makers (AMMs) or escrows without the need for full smart contracts. Additionally, Ripple is launching an Ethereum Virtual Machine (EVM) sidechain in Q2 2025, enabling developers to build decentralized applications (DApps) on XRPL using Solidity, thereby increasing compatibility with Ethereum’s ecosystem.
The goal is to tap into the $30 trillion market of tokenized RWAs, which could significantly increase XRPL’s value. Currently, XRPL has a total value locked (TVL) of about $80 million, far behind Ethereum's $50 billion, which shows its growth potential. Despite this, the network's total market cap surpassed $128 billion after XRP’s price surged by 300% following Donald Trump’s election victory. His administration’s stance on blockchain and cryptocurrency regulation could also further benefit XRPL, as Ripple hopes the regulatory environment becomes more favorable.
Ripple has made strides in this direction, including the successful launch of its decentralized exchange (DEX), which saw over $1 billion in swaps since its launch in 2024. This, along with the broader expansion into tokenization and DeFi lending, demonstrates Ripple’s commitment to making XRP Ledger a key player in the future of decentralized finance. Despite competition from other blockchain platforms, these initiatives are crucial for Ripple to continue growing and maintain its relevance in the evolving financial landscape.
More...
Donald Trump’s supporters have lost more than $12bn (£9.5bn) in a month after the value of the president’s cryptocurrency collapsed.
$Trump, a so-called “meme coin” unveiled on Jan 17, three days before Mr Trump’s inauguration, has lost more than 80pc of its value since its peak on Jan 19.
This has led to its overall worth falling from a peak of $15bn to $2.7bn on Thursday, as it suffered amid a wider crypto rout.
The paper value of the coins owned by Mr Trump himself has also fallen by $50bn.
While Mr Trump’s own losses have not been crystallised, investors are on the hook after spending heavily to back the Trump coin in the run-up to his inauguration, partly as a show of support but also as a gamble that the token would rise in value.
However, interest in the project has since dwindled, accompanied by a wider market crash.
Bitcoin has lost a fifth of its value since hitting an all-time high on the day of Mr Trump’s inauguration.
An official Melania Trump meme coin promoted by the First Lady has fared even worse, dropping 94pc since Jan 20.
Mr Trump has vowed to be the first “crypto president”, recently appointing venture capitalist David Sacks as the White House’s “crypto tsar”.
However, investors have expressed disappointment at the supposed lack of momentum, highlighting Mr Trump’s failure to create a strategic Bitcoin reserve.
US Democrats have sought to target Mr Trump’s crypto ventures by announcing plans to put forward laws that would prevent senior government officials and their families from launching meme coins.
Sam Liccardo, a Democratic Congressman, said he planned to put forward the Modern Emoluments and Malfeasance Enforcement (Meme) Act on Thursday.
He told ABC News: “The Trumps’ issuance of meme coins financially exploits the public for personal gain, and raises the spectre of insider trading and foreign influence over the Executive Branch.”
The proposed law would apply to the president, vice president, members of Congress and White House officials, as well as their family members.
Online influencers have launched a series of meme coins in recent months seeking to capitalise on their often short-lived fame, and many often collapse after an initial spike in value.
While supporters of mainstream cryptocurrencies such as Bitcoin and Ethereum are seen by their supporters as a potential way to change payments and finance, meme coins have little use. Instead, they are seen as a way of showing support for certain personalities or a form of gambling.
[The Telegraph]
With well-grounded fears of a trade war swirling and causing volatility in the traditional financial sector as well as in cryptocurrencies, you don't have to be a particularly skittish investor to be concerned about your portfolio at the moment. Even quality assets like XRP (CRYPTO: XRP) and Bitcoin (CRYPTO: BTC) are showing some shakiness.
But between those two, if a full-on trade war actually does break out as a result of the Trump administration's policies, which one has a better chance of holding up, or perhaps even climbing? Let's analyze the argument for each, starting with XRP.
The setup looks bearish here
For XRP to gain in value, at least two things need to happen. First, banks and financial institutions need to buy and hold the coin, and they need to believe that doing so will help them avoid currency exchange fees as well as international money transfer fees; they need to see that using the crypto is a better option than legacy money-transfer technologies.
Second, those banks need to transact with one another regularly across international borders, thereby generating usage fees, which are paid back to the XRP network.
If there is a trade war, the incentives for the first scenario to continue occurring will remain the same, and there could be some positive effects for XRP. The actual size of each transfer may even increase, if parties need to include the costs of tariffs in their transfers. That won't necessarily generate much more in fees, though, as XRP only charges a fraction of a penny per transaction.
The problem here is that extensive tariffs may reduce the volume of goods exchanged as a result of buyers facing higher prices. With fewer goods exchanged, fewer international money transfers need to happen. And that means XRP will almost certainly generate less in fees if there's a trade war.
There's no rule that says the price of the coin needs to drop if that happens. But if trading volumes drop, it isn't good news for investors, which detracts from the argument for buying XRP if the trade situation worsens.
Is this coin a real safe harbor?
Bitcoin's price hasn't changed much at all over the last three months, which suggests that the market is ambivalent about its value holding up in a trade war.
And it's hard to articulate precisely how the coin's value would decrease if the barriers to trade became higher for the U.S., aside from a generalized retreat from risk assets that it might cause as investors give in to fear. It isn't used extensively as a medium of exchange for trade payments, or for much else. Nor would its core value-generation mechanisms -- scarcity and mining difficulty -- change whatsoever.
It's faintly possible to conceive of a deep recession in the U.S. driven by a trade war causing investors to dump their coins to help pay their daily expenses. But that isn't very likely, at least not at the moment.
What's more likely is that rising costs stemming from worse trade terms would reduce the capital that institutional investors would be willing to allocate to Bitcoin.
It's also entirely possible that investors would be more interested in buying the crypto as a result of any inflationary pressure caused by a trade war. If inflation becomes a major concern again, it might even send the coin significantly higher, since it's considered a hedge. Still, compared to harder assets like gold or other commodities, it's not clear that this coin will preserve its value very well in truly turbulent economic times.
Nonetheless, compared to XRP, Bitcoin has fewer risk surfaces if the trade situation continues to deteriorate for the U.S. So, if there's a big dip prompted by panic, it's probably smarter to be buying it than selling it. Investors should also keep in mind that trade wars end eventually, and that there isn't really anything about a trade war that detracts from the investment thesis for this coin.
[The Motely Fool]
Reality star Leo Dasilva has stated that he will start preparing his children for his death.
In a tweet, Leo expressed intention to start preparing his kids once they reach a certain level of understanding.
“As soon as my kids get to a certain level of understanding, I will start preparing them for my death,” he wrote.
[TheNation]
Security aides attached to Mojisola Meranda, speaker of the Lagos state house of assembly, have been withdrawn.
TheCable understands that her security detail was withdrawn on Thursday morning.
A high ranking official in the Lagos assembly confirmed the development to TheCable.
“Yes, it’s true. Let people know that this woman did not impose herself in the Lagos house of assembly. She was elected by 33 of the 40-member house. That is to me an overwhelming majority,” the source said.
“We should ask ourselves: Is it because she’s a woman? Women are also asking the same question. How long do we continue in this tradition?”
The Lagos legislature has been embroiled in crisis since Mudashiru Obasa was removed as speaker on January 13.
Meranda was immediately voted in to replace him — becoming the first female speaker of the Lagos legislature.
On February 17, the house passed a vote of confidence in Meranda who subsequently adjourned plenary indefinitely, as rumours swirled that pressure was mounting on her to resign.
Obasa has repeatedly challenged the process that culminated in his impeachment, arguing that due procedure was not followed and insisting that he remains the legitimate speaker of the house.
[TheCable]