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PTML Terminal, the largest multipurpose terminal in West Africa, recently made history with the arrival of the MV Great Cotonou, the first Con-Ro (Container-Roll-on/Roll-off) vessel, which reached Lagos from Shanghai, China, in a record 27 days.
The operators of the terminal said this milestone marks a significant advancement in maritime trade between China and Nigeria, reducing transit times and enhancing logistics efficiency.
Owned by global shipping giant Grimaldi Group, which also operates PTML Terminal, the MV Great Cotonou is set to transform regional trade by offering the fastest transit time on this route—just 27 days.
Unlike other shipping services that require transshipment at intermediary ports, this direct service ensures faster and more reliable delivery for Nigerian importers, eliminating delays and additional handling costs.
With this innovative service, Nigerian businesses can now receive not only containerized cargo but also vehicles—including cars, vans, trucks, and project cargo—all on the same vessel.
This unique multimodal transport solution presents a substantial logistical advantage, streamlining supply chains and reducing overall costs for importers.
PTML Terminal is well-equipped to handle this new service, boasting state-of-the-art facilities, easy port access, and a dedicated workforce to ensure seamless operations.
The terminal’s highly efficient cargo-handling capabilities will further enhance the benefits of this direct shipping route.
The vessel’s arrival was commemorated with a high-profile welcoming event attended by key figures in the maritime industry. Among those present were Andrea Grimaldi, representing the Grimaldi family, alongside Giampaolo Vitale, Line Manager, and Salvatore Califano, Director of Grimaldi. PTML’s Managing Director, Ascanio Russo, also attended the event, emphasizing the significance of this milestone.
Speaking at the event, Russo stated: “The arrival of the Great Cotonou at PTML represents a pivotal moment for Nigerian importers.
“This service will significantly reduce transit times and logistics costs while offering unmatched convenience by accommodating various types of cargo in a single shipment.”
“We have the infrastructure, the expertise, and the human capital, and we will offer great service to our importers and exporters.
“The arrival of this ship and this new service will definitely create many more opportunities for our terminal, workers, host community, and Nigeria as a whole.
“This is the largest container-RoRo ship coming to Africa, and we have upgraded our facilities to receive this kind of vessel.
“We have recently acquired a massive mobile harbour crane costing more than USD 10 million. Additionally, we had to upgrade our infrastructure, including the quayside, with an investment exceeding USD 5 million just to accommodate these ships,” Russo said.
Also speaking, Andrea Grimaldi said, “Our goal is to create a fast and efficient trade link between Shanghai and West Africa, particularly Lagos.
“The Great Cotonou offers a direct connection with a rapid 27-day transit. We are starting with Shanghai, but as demand grows, we plan to expand our coverage to other Chinese ports and beyond.”
With this groundbreaking development, Nigerian businesses and logistics operators now have access to a faster, more efficient, and cost-effective trade link with China
The direct Shanghai-to-Lagos route reinforces Lagos as a key hub in global maritime logistics, strengthening Nigeria’s position as a leading player in West African trade.
As PTML Terminal continues to expand its service offerings, the launch of this direct shipping route, the operators of the terminal said, stands as a testament to its commitment to enhancing trade, boosting economic growth, and providing world-class logistics solutions in Nigeria.
[TheNation]
Socio-Economic Rights and Accountability Project (SERAP) has urged the Governor of the Central Bank of Nigeria, Mr Olayemi Cardoso, to use his “leadership position to immediately withdraw the patently unlawful, unfair, unreasonable and unjust increase in Automated Teller Machine (ATM) transaction fees.”
SERAP urged him to “ensure that the exercise of CBN statutory powers and functions does not inflict misery on poor Nigerians and contribute to human rights abuses.”
The CBN recently announced that ATM withdrawals made at a machine owned by a bank but outside its branch premises will now attract a charge of N100 per N20,000 withdrawn. ATM withdrawals at shopping centres, airports or standalone cash points, will incur a N100 fee plus a surcharge of up to N500 per N20,000 withdrawal.
Banks ‘are advised to apply the increased ATM fees with effect from March 1, 2025.’
In the open letter dated 15 February 2025 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said: “the manifestly unlawful, unfair, unreasonable, and unjust increase in ATM transaction fees will hit hardest those at the bottom of the economy and exacerbate the growing poverty in the country.”
SERAP said, “The increase in ATM transaction fees ought to have been shouldered by wealthy banks and their shareholders, not the general public. The increase only benefits the CBN and commercial banks at the expense of poor Nigerians.”
According to SERAP, “CBN policies should not be skewed against poor Nigerians and heavily in favour of banks that continue to declare trillions of naira in profits mostly at the expense of their customers. The increase in ATM transaction fees would inflict misery on poor Nigerians and contribute to human rights abuses.”
The letter, read in part: “The increase in ATM transaction fees is also entirely inconsistent with the oft-expressed commitment by the government of President Bola Tinubu to address the growing poverty across the country.”
“We would be grateful if the recommended measures are taken within 48 hours of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel you and the CBN to comply with our request in the public interest.”
“The exorbitant and unlawful increase in ATM transaction fees at a time the country is facing economic and financial crises would contribute further to the impoverishment of the population.”
“Imposing exorbitant ATM transaction fees on socially and economically vulnerable Nigerians at a time several Nigerian banks are declaring trillions of naira in profits yearly is manifestly unfair, unreasonable and unjust.”
“The increase cannot be justified under the Nigerian Constitution 1999 [as amended], the CBN Act, Federal Competition and Consumer Protection Act, and the country’s international human rights obligations.”
“The patently unlawful, unfair, unreasonable and unjust increase in ATM transaction fees also inherently contributes to violations of the human rights of socially and economically Nigerians.”
“The increase creates a two-tiered financial system that discriminates against poor Nigerians who may not be able to afford or pay the increased fees.”
“While the government of President Tinubu has primary responsibility for protecting the rights of Nigerians, the CBN also has the responsibilities to ensure that its practices and guidelines do not cause or contribute to human rights abuses.”
“The CBN could play an important role in promoting economic opportunities for Nigerians where the majority of the people live in poverty.”
“The CBN is failing to comply with the Nigerian Constitution, the Federal Competition and Consumer Protection Act and the country’s international human rights obligations in the exercise of its statutory powers and functions.”
“The CBN is also compromising its stated mission to advance the management of the country’s economy, and ultimately, sustainable development.”
“According to our information, the CBN through a Circular to all banks and other financial institutions dated February 10 2025 stated that it has reviewed and increased the ATM transaction fees prescribed in section 10(7) of the CBN Guide to Charges by Bank, Other Financial and Non-Bank Financial Institutions 2020.”
“Section 42(1)(a) of the CBN Act 2007 provides that ‘The Bank shall wherever necessary seek the co-operation of and co-operate with other banks in Nigeria to – (a) promote and maintain adequate and reasonable financial service for the public.’ It also provides that any policy of the CBN ‘shall be in the national interest.’”
“Section 1(c)(d) of the Federal Competition and Consumer Protection Act, 2018 provides that the objectives of the Act are to ‘protect and promote the interests and welfare of consumers’ and ‘prohibit restrictive or unfair business practices’ such as the exorbitant and unreasonable increase in ATM transaction fees by the CBN.”
“Significantly, the provisions of the Federal Competition and Consumer Protection Act are directly binding on the CBN, as the provisions constrain the exercise of the statutory powers and functions of the institution.”
“Specifically, section 2(1) the Act provides that its provisions ‘apply to all undertakings [such as the CBN] and scope of application to all commercial activities within, or having effect within, Nigeria.”
“Section 2(2) provides that, ‘This Act also applies to and is binding upon- (a) a body corporate or agency of the Government of the Federation; (b) a body corporate; (c) all commercial activities aimed at making profit and geared towards the satisfaction of demand from the public.’”
“According to section 70(1) of the Act, ‘For the purpose of this Act, an undertaking [such as the CBN] is considered to be in a dominant position if it is able to act without taking account of the reaction of its customers or consumers.’”
“The Act prohibits abuse of dominant position by the CBN including charging excessive ATM transaction fees to the detriment of consumers.”
“Section 104 of the of the Act asserts the supremacy of the Act over ‘the provisions of any other law’, such as the CBN Act. The only exception to the provision is the Nigerian Constitution 1999 [as amended].”
“Section 127(1) of the Act also prohibits the CBN from making any policy or providing “any services at a price that is manifestly unfair, unreasonable or unjust.”
“The CBN has clear responsibilities under the United Nations Guiding Principles on Business and Human Rights (UNGPs) to undertake human rights due diligence to identify and mitigate contributions to human rights violations of not only its own activities but also activities to which it is directly linked by its business relationships.”
“The CBN has responsibilities under the UNGPs to take effective steps to avoid or mitigate potential human rights harm and to consider ending any charges or transaction fees where severe negative human rights consequences cannot be avoided or mitigated.”
[Vanguard]
‘The Switch,’ a movie produced by Sandra Okunzuwa and directed by Okey Ifeanyi, premiered on Prime Video in January 2025.
The film, centered around domestic violence, was a compelling watch with thought-provoking themes. While there were some pitfalls here and there, the themes and cast performances make it a compelling watch. This movie could have been even more impactful with tighter pacing and attention to detail.
SYNOPSIS
Two couples agree to switch partners for a month, but discover that the grass isn’t always greener.
THE STRONG POINT OF THE FILM
The most intriguing aspect of the movie was its themes. While domestic violence has been explored in films before, ‘The Switch’ stands out in raising awareness of the issue while weaving in other compelling themes. Love, regret, self-esteem, self-worth, friendship, and betrayal were deeply explored, making the story relatable. At some point, I found myself murmuring, ‘You never know the value of what you have until you lose it,’ because the film captured that sentiment so well. The thought-provoking themes strengthened the movie.
The actors knew their craft and delivered their roles flawlessly. Despite the cast being fewer than ten, their performances carried the story effortlessly. Their expressions, dialogue, and delivery made the emotions feel real. For instance, in the scene where Stephanie confronted Pablo, cursing him out, the pain and regret in her voice and expression were palpable. It was one of those moments that truly resonated. The cast brought their A-game.
The cinematography of the movie was also decent. While it was not groundbreaking, it effectively complemented the story, capturing the emotions and intensity of each scene.
THE WEAK POINTS OF THE FILM
However, the movie was not without its flaws. The storyline was quite predictable from the moment the switch was suggested, and the outcome felt obvious. Beyond that, the premise did not seem plausible, especially within the Nigerian setting. The idea that someone would willingly swap partners with a friend just for the sake of “exploring” felt far-fetched.
Additionally, the makeup in the movie was noticeably inconsistent. While the bruises from the beatings were well done initially, they were not applied with continuity in mind. In some scenes, they appeared darker, in others, lighter, and at times, they were completely absent.
The film’s slow pacing was another weak point. Some scenes felt unnecessarily dragged out, making the runtime of over two hours feel longer than needed for the storyline. The plot could have been tighter with better pacing, ensuring the story remained engaging without losing momentum.
FINAL VERDICT
‘The Switch’ gets a 6/10.
[TheCable]
Cryptocurrency prices stabilized last week even as geopolitical risks increased and the US published strong consumer inflation data.
Bitcoin 
BTC-0.72%Bitcoin remained below $100,000, while some altcoins like Mantra 
OM0.14%MANTRA and PancakeSwap 
CAKE4.14%PancakeSwap surged.
The top catalyst for most cryptocurrencies will be the Federal Reserve minutes scheduled for Wednesday. These minutes will provide more information about the last meeting and what to expect later this year.
The top cryptocurrencies to watch this week will be FTX Token 
FTT-1.11%FTX, Tapswap, and Pi Network.
FTX Token in focus as payouts start
The FTX token will be in the spotlight this week as the FTX Estate starts distributing over $16 billion to its creditors. Qualified creditors who have completed the pre-distribution requirements will start being paid on Monday. They will then receive the payouts within 1 to 3 businesses. BitGo and Kraken will handle these distributions.
The FTX Token price has remained under pressure ahead of these distributions, dropping from the year-to-date high of $4.3855 to below $2.40. It is also consolidating at the 50-day and 100-day Exponential Moving Averages.
A bearish flag pattern points to a potential retreat after the distributions start.
The crypto community on X.com had a lot to say about FTT’s trajectory.
CryptoBull told its 32,000 followers to “keep an eye on [FTT].”
FTT, a utility token for trading fee discounts, collateral for derivatives, and participation in staking and buyback programs, was founded in 2019 by Sam Bankman-Fried (SBF) and Gary Wang. FTT was designed as
By November 2022, FTX collapsed after revelations of financial mismanagement and misuse of customer funds, leading to bankruptcy. The FTT token plummeted from around $25 to near zero, as its value was deeply tied to FTX’s solvency.
Bankman-Fried was later convicted of fraud and sentenced to 25 years in prison.
Tapswap
Tapswap is another cryptocurrency to watch this week as it launches its token generation event or airdrop on Monday.
This airdrop was scheduled for February 14, but the developers delayed it again. They cited Telegram’s new rule that all mini games on its ecosystem should use the TON Blockchain.
Tapswap was planning to use the Binance Smart Chain, which is bigger, faster, and more popular than TON.
Tapswap has sought to differentiate itself from other tap-to-earn games like Hamster Kombat 
HMSTR-1.45%Hamster Kombat, Notcoin 
NOT0.02%Notcoin and Catizen 
CATI0.44%Catizen that plunged after their airdrop. In addition to its tap-to-earn game, it is working on a skills game, which it expects will give TAPS utility. There is a risk, however, that the Tapswap price will fall as many recent airdrops have done.
Pi Network
Pi Network, the OG of the tap-to-earn industry, will also be a top cryptocurrency to watch this week as it launches the Open Network or its mainnet on Feb. 20. The mainnet launch comes about 6 years after its launch.
Pi Network has achieved the three pre-listing conditions. Over 10 million pioneers have moved their tokens to the mainnet, while developers have built 100 mainnet-ready applications. Also, there have been no major external factor hindering the launch.
Pi Network’s mainnet launch will let pioneers who have been mining the token for years convert them into fiat currencies. It will also benefit its developers as it will let them showcase their applications to a bigger audience.
Pi Network aims to be a better cryptocurrency than Bitcoin by being easy to mine, having its own ecosystem, and having low transaction fees.
The XRP Ledger (XRPL) ecosystem is surging, with its top cryptocurrencies leading the market’s gainers at last check early Sunday morning.
Over the past seven days, XRP has climbed 11.8%, while Sologenic (SOLO) and Coreum (COREUM) soared 21.6% and 21.4%, respectively.
The rally highlights growing momentum for XRPL-based assets, outpacing Polkadot (DOT) and Kusama (KSM), which are up 3.4% and 2.9%.
Built for fast, low-cost cross-border payments and asset tokenization, XRPL is a decentralized blockchain with a built-in decentralized exchange (DEX), trust lines for asset issuance, and sidechains for expanded functionality. Its ecosystem is expanding, with non-fungible token (NFT) support, smart contract integration (Hooks), and DeFi applications gaining traction.
Ripple, a key contributor to XRPL, has been driving institutional adoption, while the XRPL Foundation and developer community continue to enhance the network’s capabilities. The recent surge in XRPL-related tokens suggests growing confidence in its ecosystem as tokenization, payments, and DeFi innovation accelerate.
Why? For starters, the U.S. Securities and Exchange Commission (SEC) recently acknowledged Grayscale’s 19b-4 filing for an XRP exchange-traded fund, or ETF.
Analysts now project a surge in institutional investment if and when it’s approved.
Polymarket bettors like the odds. According to the website, where crypto holders can gamble on real-world events, there’s an 81% chance of approval this year, according to Cointelegraph.
JPMorgan analysts also reported that a spot XRP ETF could bring in up to $8 billion in institutional money. Should the XRP ETF get the green light, it’ll rank alongside Bitcoin and Ethereum — already spot ETF-approved — as a top cryptocurrency attracting institutional investors.
Grayscale plans to transform XRP Trust into a tradable ETF, once approved the conversion would increase liquidity and accessibility for investors all around the world.
The SEC’s acknowledgment is one step in the approval process. The fact that Ripple CEO Brad Garlinghouse is hobnobbing with politicos in Washington, D.C. this past week has certainly helped boost the chances as well.
Currently, XRP’s price is trading at $2.78, with a 24-hour trading volume of $3.5 billion. As for the other top cryptocurrencies, here’s a look at their seven-day trajectories:
| CRYPTOCURRENCY | PRICE | 7-DAY GAINS +/- |
| Bitcoin (BTC) | $97,514.17 | +0.3% |
| Ethereum (ETH) | $2,699.44 | +1% |
| Solana (SOL) | $194.54 | -5.6% |
| Cardano (ADA) | $0.7837 | +10.4% |
| Dogecoin (DOGE) | $0.2704 | +4.6% |
| Shiba Inu (SHIB) | $0.00001617 | -0.9% |
[crypto.news]
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC consolidates while ETH and XRP show some strength
Admin
- Bitcoin price consolidated between $94,000 and $100,000 for the last nine days.
- Ethereum price trades around $2,690 on Friday after rising almost 3% so far this week.
- Ripple price hovers around $2.55 after gaining nearly 7% this week.
Bitcoin (BTC) consolidated between $94,000 and $100,000 in the last nine days. Ethereum (ETH) and Ripple (XRP) prices stood relatively stronger and have gained nearly 3% and 7%, respectively, this week.
Bitcoin price consolidates between $94,000 and $100,000 range
Bitcoin price broke below the $100,000 support level on February 4 and has been consolidating between $94,000 and $100,000 ranges. At the time of writing on Friday, BTC hovers around $96,600.
If BTC breaks above the upper consolidating range of $100,000, it would extend the recovery to retest its January 31 high of $106,012.
However, the Relative Strength Index (RSI) on the daily chart reads 44 after being rejected from its neutral level of 50 last week, indicating bearish momentum. Moreover, the Moving Average Convergence Divergence (MACD) showed a bearish crossover, hinting at further correction ahead.
BTC/USDT daily chart
However, if BTC breaks and closes below the lower consolidating range of $94,000, it could extend the decline to test its psychologically important level of $90,000.
Ethereum price shows mild signs of strength
Ethereum price faced a rejection around its descending trendline on February 1 and declined 13.87%, closing below its $3,000 psychologically important level the next day. ETH continued its correction by nearly 9% in the previous week. However, ETH prices strengthened this week and recovered by almost 3%. At the time of writing on Friday, it hovers around $2,690.
If ETH continues to recover, it could extend the recovery to test the $3,000 level.
The RSI on the daily chart reads 38, bounced off from its oversold level of 30, indicating fewer signs of selling pressure. However, the RSI must trade above its neutral level of 50 to sustain the bullish momentum. Such a development would add a tailwind to the recovery rally.
ETH/USDT daily chart
However, If ETH continues its decline and closes below $2,359, it will extend the decline to test its next weekly support at $1,905.
Ripple bulls aiming for $2.72 mark
Ripple price broke below its ascending trendline (drawn by connecting multiple lows since early January) on February 2 and declined by 10.35%, closing below its daily support at $2.72. Last week, XRP faced rejection around the daily level of $2.72 and declined by 11.38% at Sunday’s close. However, XRP prices strengthened this week and recovered by almost 7%. At the time of writing on Friday, it hovers around $2.55.
If XRP continues to recover, it could extend the recovery to test its daily resistance level at $2.72.
The RSI on the daily chart reads 46, bounced off from its oversold level of 30, indicating mild bullish momentum. Like Ethereum, the RSI must trade above its neutral level of 50 for the bullish momentum to be sustained. Such a development would add a tailwind to the recovery rally.
XRP/USDT daily chart
On the other hand, XRP continues its pullback and closes below its daily support at $1.96. It could extend the decline to test its weekly support level at $1.40.
[fxstreet]
What to know:
- There was a great feeling of optimism at this year’s Plan B.
- Salvadorans are working hard to increase Bitcoin adoption.
- Differences have begun to emerge between Salvadorans and hardcore Bitcoiners, especially over President Bukele’s recent deal with the IMF.
There was formidable energy at this year’s Plan B conference in El Salvador.
The event, which took place on Jan. 30-31, was historic for many of its 2,500 attendants. It was the first Bitcoin forum in the Central American nation to have a full dual-language agenda — meaning sessions in both English and Spanish.
For Roman Martínez, a Salvadoran co-founder of Bitcoin Beach, Plan B was a dream come true, because it enabled ordinary Salvadorans to make sense of their country’s Bitcoin experiment and ponder their own place within it. “Up until now, every Bitcoin conference was geared towards foreigners,” he told me on the first day, in Spanish. “Not everybody knows English. It’s already hard to learn a complex topic in your own language. In another, it’s three times harder.”
Martínez was involved in organizing the event. The expectation, he said, was for maybe 100 to 150 Salvadorans would show up — but more than 1,500 tickets were sold to Spanish speakers. “I’ve never seen so many Salvadoran faces at a Bitcoin conference,” he said. “We’re arriving at a point where Salvadorans are realizing that Bitcoin isn’t going anywhere, and either we learn to become part of it right now, or we’re going to be left behind.”
I could feel it too.
The English-speaking area, located at the Sheraton Presidente San Salvador Hotel, had crypto celebrities on stage including Tether CEO Paolo Ardoino, and OGs like Samson Mow, Jimmy Song, Blockstream CEO Adam Back and early Bitcoin developer Peter Todd. “We are witnessing a battle between centralized and decentralized systems!” Walker America, host of THE Bitcoin Podcast, shouted at the conference’s opening panel.
Yet that side of the conference felt somewhat formulaic compared to the Spanish-speaking zone, held at the Museum of Arts of El Salvador, which was absolutely electric. Over there, Salvadorans of all stripes outlined plans to help their country develop — from providing new educational opportunities, to mixing Bitcoin with dental care, to discussing the government’s strategy with the International Monetary Fund (IMF). Many of the panel speakers, young Salvadorans themselves, had fire in their eyes.
“We are in the right place in the world at the right time in history,” Gerardo Linares, co-founder of Bitcoin Berlín (the initiative behind the nation’s second Bitcoin circular economy) said to a completely bewitched audience. “It’s all happening right here, in El Salvador.”
A conference for Salvadorans
I was struck by the Spanish area’s demographic makeup. Crypto conferences are famously male-dominated; participants often complain of having to navigate a sea of dudes. The English-speaking zone was like that — maybe 90% male and 10% female.
The Spanish side was much more balanced, with a ratio of approximately 60% men and 40% women. While the majority of attendants sported black and orange Bitcoin T-shirts, you also saw middle-aged Salvadoran couples wearing elegant Salvadoran outfits, and twenty-something university students with turtlenecks and notepads.
I asked Evelyn Lemus and Patricia Rosales, two of the Salvadorans who spearheaded the Bitcoin initiative in Berlín, what they thought of the female attendance rate. They didn’t seem surprised. “There is a new generation of Salvadoran women who do not depend on men,” Rosales, a single mother herself, told me.“
In El Salvador, most of the time, it’s women who manage family finances,” Lemus said. “That’s why they come to events like this: To see how they can manage and invest the family money. It’s one of the reasons we really wanted to have the conference in Spanish.”
Bitcoin shouldn’t be reserved to the nation’s elite, but should make everyday life easier for ordinary Salvadorans, Lemus said. That concern influenced her action plan for Bitcoin Berlín. “We wanted to push back on this notion that Salvadorans don’t use Bitcoin — that only expats use it. Now, if you go to Berlín, you’ll see working class people using Bitcoin.”
Making sense of El Salvador’s situation
There was an overall feeling that El Salvador is on the cusp of entering a new phase in its Bitcoin experiment.
The last four years have seen the Central American nation, once known as the homicide capital of the world, rebrand itself into Bitcoin Country. President Nayib Bukele, by locking up MS-13 and Barrio 18 and putting an end to gang warfare, had given El Salvador a once-in-a-lifetime opportunity to reorganize itself and attain prosperity — at least that’s how most of the people at the conference seemed to see it.
A lot of conversations revolved around the pick-up in Bitcoin adoption. For years, despite bitcoin becoming legal tender in 2021, you could only pay for stuff with the cryptocurrency in El Zonte, the small surfing village also known as Bitcoin Beach. In 2023, 88% of Salvadorans did not use the digital coin, according to a survey by the Central American University.
But now a second Bitcoin circular economy has been implemented in the town of Berlín, up in the mountains, and other initiatives are reportedly growing elsewhere, like in Santa Ana, the second largest city in the country.
Martínez, Lemus and Linares were all eager to share tips and advice. The secret sauce to adoption, they said, is to mix Bitcoin initiatives with social work. “If the way to get people to use Bitcoin was to make hamburgers instead of doing social work, then I would be making hamburgers,” Linares told me. “Whatever works. People like social stuff, so that’s what we’re doing.”
Stablecoin giant Tether’s decision to relocate its headquarters to El Salvador was also perceived as a massive win. Tether reported $143.7 billion in assets, including $94.5 billion in Treasury bills, in the last financial quarter of 2024. For comparison, El Salvador’s GDP was estimated at $34 billion in 2023 by the World Bank.
Tether has become the largest company (by far) to be based in El Salvador — and other crypto firms are bound to follow in its footsteps, taking advantage of the nation’s advanced crypto regulatory framework and increasingly skilled workforce. For Salvadorans, that means more career opportunities, higher salaries and the possibility that the country may become a tech hub in its own right.
“El Salvador should not only be known for being the first to implement bitcoin as legal tender,” Darvin Otero, CEO of tiianki Technology, said on stage. “Let’s change the lives of the young folks here and create the next leaders of this tech movement.”
“We have a small territory, but we can have a big dream,” Alejandro Muñoz, a Salvadoran lawyer, said. “We can provide a big service. … Good lawyers will attract good investors and filter the scammers out. Bitcoin education needs to happen in the legal industry; steps are being taken already in that direction.”
Bright future ahead
The conference occurred only days after the government, as part of a recent multi-billion dollar deal with the IMF, rescinded bitcoin’s status as legal tender — meaning that businesses aren’t obliged to accept bitcoin payments anymore. While some members of the Bitcoin community have accused Bukele of caving to the IMF, none of the Salvadorans at Plan B seemed to see it that way. In their view, nothing has changed on a practical level, since the vast majority of businesses didn’t use Bitcoin to begin with.
In fact, a number of people welcomed the deal. “El Salvador locked in long-term funding to finish the reforms needed,” Mike Peterson, an American expatriate who lives in El Zonte and co-founded of Bitcoin Beach, posted on X recently. “The IMF loan puts the country on track to get the BBB credit rating that most sovereign wealth funds require to invest in a country.”
That’s the big difference between Salvadorans and Bitcoiners. Hardcore Bitcoiners prioritize global adoption; they want the cryptocurrency to eventually supplant government-issued currencies, like the U.S. dollar. For them, El Salvador is a stepping stone, the first nation to initiate hyperbitcoinization, but certainly not the last.
Salvadorans don’t have the same priorities. For them, Bitcoin is simply a tool, a means to an end. Their goal is to develop Salvadoran society.
“Salvadorans have always been proud of being Salvadoran. But there was a lot of pessimism. We were never the first in anything positive, only in negative things,” Linares told me. “Now people come from all parts of the world to listen to what we have to say. Bitcoin has a lot to do with that.”
“There are a lot of projects here in El Salvador that invest so much time and resources and get almost nothing in return — except tremendous pride in being able to give back to the community and support everyone else. This feeling needs to expand throughout the country. We’re in a moment of great change. You can feel it in the air.”
[coindesk]
What’s next for Coinbase share price as bitcoin and cryptocurrency rises lead to improved earnings?
Admin
Cryptocurrency exchange platform Coinbase Global posted an earnings report on Thursday night which beat analysts’ expectations and showed a huge rise in revenues year on year, but the share price initially dropped overnight in pre-market trading and moved five per cent lower soon after opening on Friday.
The Nasdaq-listed company has seen its share price rise 50 per cent over the past six months, sitting at $298 (£236) at the close of play before announcing their latest financial update.
But it has been a typically wild ride over the last five years, as has been the case with many products or platforms associated with bitcoin and cryptocurrency: from a price of $328 in October 2021, Coinbase shares crashed to well below $40 at the start of 2023. Since the final months of that year though they have again been - generally, with more than a few wild swings - on the rise again and topped $330 by December 2024.
Much of that can be explained in part of the business model. Plunging prices of bitcoin and cryptoassets resulted in lower fees per transaction for Coinbase, while fewer transactions overall also impacted. In addition, there have long been regulatory concerns as well as litigation cases to contend with.
With more adoption of cryptocurrencies in the mainstream financial arena, plus growing public (and political) awareness, plus President Donald Trump declaring he wants America to be the world’s “crypto capital”, trading has once again been on the increase.
Coinbase’s earnings report showed an earnings per share (EPS) of $4.68 for the three months to 31 December, with analysts having been expecting a profit of $1.81 per share, according to Reuters.
Transaction revenue rose 172 per cent to $1.6bn, with total revenue up to $2.3bn, having been $953.8m a year earlier. Clearly this is huge growth on a year on year capacity, but as ever the question for the platform - and for businesses experiencing growth in general - is whether it is sustainable, and what comes next.
So what are analysts and experts saying about it now? The share price dropped more than four cent in pre-market trading, but by noon GMT - still more than two hours ahead of the US markets opening - it was back up to just 1.7 per cent lower than Thursday’s close. That day itself saw shares surge more than eight per cent higher, in anticipation of the results update, yet on Friday within five minutes after the markets opened, the price was down and moving between two and five per cent lower again. Volatility, indeed.
Analysts’ view
Analysts who cover the company are split on the target share price - usually a 12-month or end-of-year indicator of expectations, but frequently subject to change - but across the board at least 24 of 26 rate the stock as a strong buy, buy or hold, per Yahoo Finance’s latest data.
Citi maintain a buy rating on Global, citing a target price of $350, with Benzinga listing share price targets ranging from £328 (Barclays) to $420 (Needham).
The lowest on their list was analyst Kyle Voight at Keefe, Bruyette and Woods, who offers a “market perform” rating - in other words, an expectation that shares rise or fall in line with the wider market - and a price of $275.
Jefferies analyst Trevor Williams told Yahoo Finance that higher marketing spend would drive down profit margins and has a hold rating on the stock, while JP Morgan analyst Ken Worthington said the trading volumes surge “seen post election have largely remained intact, suggesting that this level of velocity, activity and revenue generation levels could be sustainable."
Dan Coatsworth, investment analyst at AJ Bell, told The Independent: “The buzz around how Donald Trump would become the first US president to embrace cryptocurrencies with open arms caused a frenzy among the public who were eager to grab a slice of Bitcoin. It created the perfect environment for Coinbase as a flood of people used the platform to buy and sell cryptos. This tailwind helped the business to beat earnings expectations for the first time in three quarters.
“What’s really impressive is the scale of the ‘beat’. The market had forecast $1.36 earnings per share and Coinbase achieved more than three times that amount at $4.68. It’s incredibly rare to see a company smash forecasts on that grand a scale.
“The big question for investors is whether that winning streak is now over. The stock market is forward looking and investors care about what’s coming next, not what’s just been reported. The fact Coinbase’s shares fell in pre-market trading is telling – it implies that the market sees the latest quarterly success as a firework that’s lit up the skies but quickly disappeared.
“The next quarter is forecast to generate $1.28 earnings per share, less than what was forecast for the quarter just gone. The crypto market is driven by pure speculation and when things go quiet on the news front regarding major buyers or sellers, or what might happen from a political or regulatory perspective, the volume of trading inevitably dies down.”
Coinbase intent
Naturally, Coinbase themselves are bullish on future prospects.
"We're really entering a golden age for crypto here. The opportunity in front of us is unprecedented to update the financial system and increase economic freedom around the world, the regulatory overhang is lifting," CEO Brian Armstrong said on a post-earnings call.
"President Trump is moving fast to fulfill his promise of making US the crypto capital of the planet. And the most pro-crypto Congress we've ever seen is now leading the charge on stablecoin and market structure legislation. Given the US's leadership here, the rest of the world is taking notice and will be under pressure to embrace crypto adoption," he added.
Coinbase want market additions from the presidential administration to revolve around token classification and stablecoins, while there’s an expectation they’ll also look to gain a bigger share of institutional investors’ business in crypto as time goes on.
Potential headwinds and tailwinds
TradingView note that retail investors have not returned to buying and selling cryptocurrency to the same levels as seen in 2021. That means there’s scope for more - but also probably shows more people are aware of the tax implications of bitcoin and beyond now, which was not perhaps the case earlier on.
International expansion is another potential case, but just as regulatory pressures may now decrease Stateside, they may still face big issues in other countries where governance is not as pro-crypto or where retail investors are more restricted in how they can trade.
Additionally, Coinbase has a low rate of return on equity (0.88 per cent), Benzinga shows, with their net margin (6.26 per cent) also below industry averages and meaning cost cutting may be on the agenda. All this, before considering potential competitors to the platform such as Robinhood, which itself reported record revenue this week.
Whatever way the Coinbase share price goes, it’s possible that cryptocurrency itself continues to be volatile, unpredictable and a source of argument between those who believe it to be a huge part of the future, and those who see it as having little or no intrinsic value.
[independent.co.uk]
Veteran actress, singer, and film producer Shan George has shared her thoughts on the importance of investigating one’s partner’s family background before marriage.
In a recent interview with Saturday Beats, Shan George emphasized the need for thorough check into a person’s family history, genotype, and other crucial issues.
Her advice comes amidst concerns about domestic violence and spousal abuse in Nigeria.
She acknowledged the cultural dynamics that can enable perpetrators to go unpunished, while also highlighting the complexities involved in addressing such issues, particularly when love, children, and family ties are at stake.
She said:
“Based on our culture that generally gives a man more authority at home, many perpetrators (of domestic violence and spousal abuse) get away with it. Also, their spouse may have a change of mind, don’t forget that love is involved here, and children too most times, have to be considered before any action is taken by women who suffer abuse.
“I will advise that like it used to be done in the past, please do an investigation into a person’s family history, genotype, and other important issues before marriage. Some of the things that cause pressure that aggravates to abuse, most times are in the lineage.”
Shan George commended the public outcry and response from authorities regarding recent cases of abuse and murder in Nigeria.
She noted that while the initial outrage may subside as security agents take over the cases, it is essential to continue advocating for justice and accountability.
“There’s a good outrage about such a situation already, knowing that it is traumatic for both parents, the one who lost a child and the one whose child killed another person, is probably why we may feel the outrage isn’t enough. Also, I believe such outrage usually draws the attention of the security agents, and once they are already handling the case, it’s normal for people to back down a bit. Until maybe when they sense an injustice in the handling of the case by the security agents.”
“Why beauty is not enough to succeed as an actress” – Temidayo Babatunde Shares Insights on Succeeding in Nollywood
AFOLABI
Nollywood actress and filmmaker Temidayo Babatunde has offered her thoughts on the importance of talent in achieving success in the film industry.
In a recent interview with Saturday Beats, Temidayo Babatunde emphasized that while physical beauty can be an asset, it is not enough on its own to succeed in the industry.
Babatunde acknowledged the role of beauty in the entertainment industry but stressed that talent is essential for building a lasting career.
“Beauty is never enough. As much as beauty is important, talent is also very important because your talent will pave the way for you and allow you to sit with kings and queens. Both talent and beauty complement each other, and one cannot do without the other,” she said.
Temidayo Babatunde also shared her thoughts on the impact of social media on her career.
While she acknowledged the benefits of social media, including its ability to help her share her work and connect with fans, she also noted its potential drawbacks.
“Social media has been a powerful tool and influence. As much as it has its advantages, it also has its disadvantages. I have had my fair share of it.
“Social media has helped me share my craft and engage with many fans across the world. I would gladly say I am happy with the reception so far“, she stated
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he House Of Representatives has submitted that the allegation by Binance executive, Tigran Gambaryan, against some federal lawmakers is not targeted at the lower chamber of the National Assembly as an institution but at some members of the House.
The position of the House was made known in a statement on Saturday by the spokesman of the House of Representatives, Akin Rotimi (Jr).
He disclosed that the three lawmakers mentioned specifically in the $150 million bribe allegation have assured the leadership of the House of their innocence and have been encouraged to take legal action to clear their names.
Rotimi added that the matter has escalated to a diplomatic issue between Nigeria and the United States of America, which is being handled by those concerned but warned members of the public not to be carried away by claims aimed at discrediting Nigerian institutions and public officials.
Due to the nature of the discussions, the spokesperson said the House would not be making further public comments.
“These allegations, which have been previously circulated last year, are directed at individual members, not the institution itself.
“The House of Representatives urges the public to rely on verified facts and not be misled by recycled claims aimed at discrediting Nigerian institutions and public officials,” the House spokesperson said.
Naija News recalls Gambaryan, who is the Binance Head of Financial Crime Compliance, has insisted three Nigerian lawmakers demanded a $150 million bribe from him in order to facilitate his release from detention.
He made the fresh claim in a statement via his ? account on Saturday.
It would be recalled the Binance executive had earlier, In a statement on his ? handle on Friday, titled ‘Some Unknown Facts’, alleged that in collaboration with Department of State Sevices (DSS), House of Representatives members, Peter Akpanke, Philip Agbese and Ginger Obinna Onwusibe demanded $150 million bribe from him to be paid in cryptocurrency to their wallets.
Following denials by Agbese, and the federal government through the Minister of Information,Mohammed Idris, Gambaryan insisted on Saturday that his claims are nothing but the hard truth.
Reacting to the allegations, Rotimi described the allegations as hefty, thus requiring clarification and stressed the need for the affected members to clear their names.
“The Honourable Members named have assured the House Leadership that they never had any such dealings as reported. One of the members has already instituted legal action to clear his name, while others affected have been encouraged to do the same in pursuit of justice and the protection of their reputations,” the statement added.
He emphasized the diplomatic implications of the matter, noting that the issue has now “evolved into a government-to-government engagement between Nigeria and America.
“These facts raise serious questions about the credibility and intent of the allegations being peddled.”
The House of Reps said since the claim has been taken to court and is a “matter of ongoing diplomatic engagements,” the lower lawmaker body “will refrain from further comment in line with established parliamentary, judicial, and diplomatic principles.”
“The House of Representatives urges the public to rely on verified facts and not be misled by recycled claims aimed at discrediting Nigerian institutions and public officials.
“The House remains steadfast in its commitment to transparency, accountability, and the protection of Nigeria’s democratic institutions,” the statement added.
The Independent National Electoral Commission (INEC) has urged the National Assembly to implement more stringent regulations prohibiting the possession of significant amounts of cash in polling locations.
This initiative aims to combat vote-buying and other forms of electoral misconduct.
During a consultative meeting held in Abuja over the weekend, which included security personnel and a technical committee focused on electoral law reforms, INEC’s Director of Litigation and Prosecution, Tanimu Muhammed, SAN, expressed serious concerns regarding the escalating issue of vote-buying, which poses a substantial risk to Nigeria’s democratic integrity.
This meeting was organized by the Joint Senate and House of Representatives Committees on Electoral Matters, in partnership with the Policy and Legal Advocacy Centre (PLAC) and with support from the UK Foreign, Commonwealth, and Development Office (FCDO).
It served as a forum for stakeholders to discuss electoral security and necessary legal changes.
The INEC representative pointed out that politicians frequently defend their possession of large sums of cash on election day by referencing payments to party agents and logistical needs.
However, he cautioned that the unregulated cash flow at polling stations has exacerbated vote-buying and undermined the credibility of elections. To mitigate this issue, Muhammed proposed that individuals should be restricted to carrying no more than ₦50,000 in polling areas.
“Vote-buying remains one of the biggest threats to credible elections in Nigeria. We need legislation that not only criminalizes this practice but also puts preventive measures in place,”Muhammed stated.
The commission has called on legislators to focus on amendments aimed at eliminating loopholes that are being taken advantage of by political figures.
In addition to concerns regarding vote-buying, officials from INEC emphasized their persistent request to create an Electoral Offenses Commission, contending that the electoral body does not possess the necessary capabilities to prosecute violators adequately.
While INEC is making efforts to manage prosecutions, there is a pressing need for a specialized institution equipped with the legal power and resources to thoroughly investigate and prosecute electoral offenses, as stated by Muhammed.
“The creation of an Electoral Offenses Commission would ensure that vote-buying, ballot snatching, and other crimes are met with swift legal action,” he added.
On his part, the Ondo Resident Electoral Commissioner, Oluwatoyin Babalola, stressed that reducing cash transactions at polling units would make it harder for politicians to influence voters with financial inducements.
“If we set a cash limit, security agencies will have clearer guidelines on what constitutes an electoral offense, making enforcement easier,” she added.
In addressing the concerns raised by INEC, the security agencies present at the meeting reiterated their dedication to facilitating free and fair elections.
Nonetheless, they recognized the difficulties faced, especially regarding logistics and coordination.
Police Face Logistic Issues During Elections
The Commissioner of Police responsible for election planning and evaluation, Abayomi Shogunle, who stood in for the Inspector General of Police, emphasized that insufficient resources frequently hinder law enforcement operations during electoral processes.
“We face major logistical challenges, from deploying officers to remote areas to ensuring real-time communication during elections. These are issues that need to be addressed if we are to effectively enforce electoral laws,” Shogunle said.
Despite these challenges, security agencies pledged to remain neutral and professional in carrying out their duties.
Responding to the concerns raised, the Chairman of the House Committee on Electoral Matters, Hon. Adebayo Balogun, assured that all issues discussed would be addressed in future electoral reforms.
He announced plans for a 2025 Electoral Act to replace the current 2022 version, which he said had exposed gaps during the 2023 elections.
“The 2022 Electoral Act was a significant step forward, but its implementation in the last general elections showed areas that need improvement. We are committed to strengthening our electoral laws to reflect the realities of our democracy,” Balogun said.
He underscored the need for heightened awareness among political parties, INEC officials, and civil society organizations regarding the risks associated with vote-buying and other electoral misconduct and the need for legislative reforms.
The citizens of Nigeria are entitled to a trustworthy electoral process. It is imperative that our laws are not only robust in theory but are also rigorously enforced, Balogun stated.
The Senate Chairman on Electoral Matters, Senator Sharafadeen Alli, remarked that although the 2022 Electoral Act was initially viewed as thorough, its execution has exposed deficiencies that require rectification.
“This meeting is a step towards strengthening our electoral system. The reforms we propose must reflect lessons learned from past elections and ensure that our democracy continues to evolve positively,” Alli said.
Cameras equipped with AI technology and special bands to protect the neck are among the measures introduced by forest officials in Pune's Junnar area which witnessed nine deaths due to leopard attacks in the past one year.
With the availability of water, the hilly region on the northern end of Pune district, adjoining the Konkan, has ideal conditions for horticulture, but the plantations and orchards also provide a shelter to the big cat, officials said.
The Junnar forest range has witnessed 17 deaths due to leopard attack in the last five years, nine of them in 2024 alone.
With 17 people dying and 41 suffering injuries in five years, the district administration last year declared 233 villages across the tehsils of Junnar, Khed, Ambegaon and Shirur as "highly sensitive" and "potential leopard disaster-prone areas".
According to Dehradun-based Wildlife Institute of India, the Junnar forest division has 6 to 7 leopards every 100 sq km.
"The region, with a hilly terrain and a network of irrigation projects, has seen an increase in cultivation of crops like sugarcane, banana, grapes and pomegranate. These dense plantations provide an ideal cover for leopards to hide and move undetected," Deputy Conservator of Forests Amol Satpute told PTI.
The rising number of domestic animals provide them with easy prey, he noted.
"Human-wildlife conflict has been increasing in the division over the past 24 years due to these reasons. 2024 saw nine fatalities, the highest in 24 years. Local farmers and farm labourers demanded that something be done. We have introduced a slew of measures using the latest technology," said Satpute.
Smita Rajhans, the Assistant Conservator of Forests (Junnar range), said electric fences powered by solar energy are turning out to be useful in stopping leopards from entering orchards and plantations.
"A solar energy fencing with electric current is set up around the house. If the animal tries to cross the fence, it will receive a non-lethal shock and run away," she explained.
Such fences have been installed around 150 houses in the most "leopard-prone" areas, and additional 650 fences have been proposed to be installed, Rajhans said.
The forest department has also installed Artificial Intelligence (AI)-equipped cameras at vantage points, she said.
These cameras can detect leopards. The system triggers a siren which alerts forest officials. "The sound scares the leopard and it will run away," said Rajhans. Officials have also installed 'Animal Intrusion Detection and Repellant Systems' which can detect the presence of a leopard at night time.
"Besides, we have distributed specially designed neck belts to farm labourers in the region. Generally, leopards catch hold of a person by the neck, and the belt will provide protection in such a case," Rajhans said.
Also, there is the Special Leopard Protection Force (SLPF), on the lines of the Special Task Tiger Protection Force.
The Manikdoh Leopard Rescue Centre in Junnar, home to 44 leopards, provides temporary or long-term care to the big cats injured in attacks by villagers or trapped in conflict situations, but it is running short of space. "There are plans to expand the rescue centre so that around 125 leopards can be accommodated," said an official.
Dnyaneshwar Pawar, a forest guard, said leopards thrived during the COVID-19 as human activity dwindled.
"During this period, the population of the animal grew, leading to more human and leopard confrontation. Several measures have been taken at the ground level, such as creating awareness among locals, discouraging them from venturing out at night, and using nets around cattle farms. Since this is a sugarcane area, a lot of sugarcane cutters come from other regions. We provide them guidance on how to remain safe," he said.
Mayuri Bankar, a resident of Warulwadi, has been using the neck belt, provided by the forest department three months ago.
"I make sure to use it all the time while working in the fields. It has spikes on the exterior which can serve as a deterrent if the leopard grabs you by the neck," she said.
Nitin Bhujbal, a resident of Walanwadi in Narayangaon, installed a solar fence around his house two months ago. The area has large sugarcane fields which are frequently visited by leopards, he said.
"There have been two instances where a leopard attempted to sneak inside but retreated immediately after coming in contact with the electric current," he said, adding the system is completely safe and non-lethal.
[telegraphindia]
While the seismic market moves caused by DeepSeek were short-lived, the release of the Chinese startup’s high-performing and inexpensive large language model is likely to have long-term implications for technology, trade, and economic relations between the US and China.
Here are four predictions about these potentially dramatic impacts.
1. Artificial intelligence costs will continue to plummet
All innovations are fundamentally about doing more for less, or, in economic terms, being unit price deflationary. The AI revolution exemplifies this. Prior to DeepSeek’s release, costs of dominant AI models had already fallen by around 80 per cent on an annualized basis over the past two years. DeepSeek has simply accelerated this trend.
The 30x pricing difference between the token prices, or the cost of use, of DeepSeek and the market leader OpenAI reflect algorithmic improvements by the former and the latter’s more aggressive pricing strategy. This deflationary trend should continue as AI research progresses and more competition enters the field.
2. The AI economic pie will get bigger and be sliced differently
As AI becomes cheaper and more accessible, usage should expand significantly, following Jevons paradox, the idea that demand for a resource increases as technology makes it more efficient.
As foundational models become commoditized, value creation should shift toward applications, meaning more resources will be devoted to inference, or the deployment of AI to specific tasks, as opposed to training.
This, in turn, should increase demand for custom XPUs, chips designed to perform application-specific tasks more efficiently, as opposed to standardized GPUs which are particularly well suited for training.
Nvidia has indicated that this shift may already be starting. In May 2024, the AI leader said that demand related to inference was growing faster than for training, with the former now representing 40 per cent of total demand.
As AI applications widen, the opportunity to participate in AI research will likely no longer be limited to well-funded entities, opening doors for broader innovation across academia and many other areas. For example, DeepSeek’s R-1 model has already spawned thousands of new open-source models based on its architecture.
3. US chip export controls will deserve careful reassessment
DeepSeek’s breakthrough was achieved using far fewer and less advanced chips than its American counterparts, demonstrating how innovation can be born of constraint.
So even though US export controls may limit DeepSeek and its Chinese peers in the short term, these restrictions are unlikely to stop their progress. And these measures risk isolating US technologies from China’s market, possibly on a permanent basis.
Export controls also seem counterproductive for a US administration that places a high priority on addressing structural balance of payment issues with China. As one Chinese minister put it plainly, “If we want to buy from the US, but they … are restricting their exports … How can they cut their deficit?”
True, US politicians on both sides of the political aisle have been calling for more regulations on China in recent years, not fewer.
The decision to adjust chip export controls would thus signal a turning point in US-China economic relations and would not be taken lightly.
Nonetheless, the pros and cons of the current chip export restrictions have become more balanced and deserves a careful reassessment.
4. Interests of US and Chinese tech leaders may become more aligned
While DeepSeek’s breakthrough and open-source approach initially caused angst among US investors, many US tech leaders have welcomed the development.
Major cloud platforms like Microsoft, AWS, and Hugging Face have already integrated various models based on DeepSeek R-1, and many of these companies’ leaders have noted that the development of less expensive LLMs (large language models) should spur demand for their cloud services and thus enhance their revenue streams.
Looking further ahead, businesses stand to benefit massively from the potential productivity boost and cost savings from wider AI applications, regardless of their origins. This is especially true in the US, where wages are elevated compared to the rest of the world and STEM talent is persistently in short supply.
A useful historical parallel may be the frictions between the US and Japanese auto industries in the 1980s. Japanese auto makers eventually introduced their innovative “lean production” method to the US, significantly boosting productivity in the American auto industry.
The evolving AI landscape presents a tremendous opportunity for collaboration between the two global superpowers, especially as the industry pursues artificial general intelligence, a potentially world-changing mission. But the ongoing tensions between China and the US – on trade, technology and other issues – risks hampering progress by fracturing the technology landscape.
It is unclear whether this is the beginning of a new era of technological cooperation or a period of rising global competition, but either way, DeepSeek is a reminder of how rapidly things can, and likely will change, in the age of AI.
[cyprusmail]