FEATURES

FEATURES

In a filing on March 12, the SEC said it needed "a longer period" to consider the proposal. The SEC initially accepted Grayscale's application in January, starting a 45-day review process that can be extended up to 240 days.

The next deadline for a response is May 21, but a final ruling could take until mid-October.

As Grayscale waits for a decision, Franklin Templeton has joined the race for an XRP ETF by submitting its own proposal with the SEC. Franklin XRP ETF seeks to provide exposure to XRP's spot price, with the assets custodied by Coinbase Custody.

Shares for the XRP ETF would trade on the Cboe BZX Exchange after being created and redeemed using cash converted into XRP via a third party. Importantly, investors would not have access to XRP Ledger forks or airdrops.

Franklin Templeton's filing is the latest addition to the growing list of asset managers seeking approval for an XRP ETF, following Bitwise, 21Shares, Canary Capital, WisdomTree, and CoinShares. The SEC has 240 days to evaluate the application and make a decision.

However, analyst Eric Balchunas is not keeping high hopes from the SEC. He posted on X, "This is the 64th alt/meme coin ETF filing that is now awaiting approval, by the way."

The ETF filing process involves both an asset manager and an exchange working together. First, the asset manager (like Franklin Templeton or Grayscale) submits an S-1 (or S-3) registration statement to the SEC, detailing how the ETF will function. At the same time, the exchange (like Cboe BZX or Nasdaq) files a 19b-4 rule change proposal to list and trade the ETF. The SEC then has 45 days to review the exchange’s filing, with the option to extend the deadline up to 240 days for further evaluation before making a final decision.

At press time, XRP trades at $2.20, up by 3.52% in the last day.

[The Street]

 Bolivia's state energy firm YPFB will use cryptocurrency to pay for energy imports amid a painful shortage of dollars and fuel in the landlocked South American nation, a company spokesperson and a government official told Reuters on Wednesday.

The country is battling a dangerous slide in foreign currency reserves afters years of dwindling exports of natural gas, which has sparked off a fuel crisis in the country with regular long lines at gas stations and scattered protests.

A spokesperson for state-run energy firm YPFB told Reuters that a system had been put in place to use cryptocurrency to purchase fuel imports after a government approval to use digital assets to help meet demand.

"From now on, these (cryptocurrency) transactions will be carried out," the spokesperson said, adding that the new purchasing system was designed to help support national fuel subsidies in Bolivia amid a shortage of hard currency.

A government spokesperson said that YPFB had not yet made use of digital currency to purchase energy imports, but that it was planned to do so.

Bolivia, for decades a net energy exporter due its large reserves of gas, has become reliant on imports as domestic gas production has dwindled amid a lack of major new finds.

[Reuters]

Bitcoin jumped past $83,900 after new Consumer Price Index (CPI) data revealed inflation rising less than forecasted, easing fears of aggressive Federal Reserve rate hikes and fueling risk appetite in both crypto and traditional markets.

The February CPI report showed a 0.2% monthly increase, below the 0.3% forecast, while year-over-year inflation slowed to 2.8% versus expectations of 2.9%, according to the Bureau of Labor Statistics. Core CPI, which excludes volatile food and energy prices, rose 3.1% year-over-year, also softer than expectations.

Following the report, Bitcoin surged more than 3%, with Ethereum climbing to $1,938, while altcoins like Solana (SOL) and XRP posted 5% gains. Stocks also reacted positively — Dow Jones Industrial Average futures rose 223 points, while the S&P 500 and Nasdaq 100 advanced 0.8% and 0.9%, respectively.

Market sentiment had been shaky in recent weeks as inflation concerns clashed with trade policy uncertainty following President Donald Trump’s 25% tariffs on steel and aluminum imports. However, the lower-than-expected CPI print revived investor confidence, with traders now pricing in a higher probability of Federal Reserve rate cuts in the coming months.

Thursday’s Producer Price Index (PPI) data could further shape inflation expectations. If wholesale prices also show a cooling trend, markets may rally further in anticipation of monetary policy relief.

In the past 24 hours, a total of 116,409 traders were liquidated, with total liquidations amounting to $427.96 million, according to CoinGlass.

The largest single liquidation order occurred on HTX, where a BTC-USDT trade worth $60 million was wiped out.

After posting losses earlier this week, crypto stocks are finally rebounding in pre-market trading following softer-than-expected CPI inflation data. The largest corporate holder of Bitcoin, MicroStrategy (MSTR) climbed 2.46% to $267.00, while crypto exchanges Coinbase (COIN) gained 2.46% to $196.40 and Robinhood (HOOD) led the recovery, surging 6.30% to $38.65. Bitcoin mining company MARA Holdings (MARA) remained flat at $13.32. The bounce-back in crypto-linked stocks follows renewed investor optimism, with risk assets rallying across both crypto and traditional markets.

[TheStreet]

It's been a long, strange year for Bitcoin (CRYPTO: BTC) -- and it's only March. The year started off with a lot of fanfare, with the cryptocurrency hitting a new all-time high of $109,000 on Jan. 20. But it soon fell below $100,000. Then $90,000. And recently, it was below $80,000 briefly, before bouncing back just a bit.

But it's no time to panic. In fact, it might be time to buy the dip, and here's why.

The Strategic Bitcoin Reserve to the rescue?

The potential big catalyst for Bitcoin, of course, is the recent announcement of a Strategic Bitcoin Reserve. With an executive order from President Trump, the U.S. government has now moved to consolidate its holdings of Bitcoin. It will no longer be selling. That's a big move, given that the U.S. currently holds approximately 200,000 bitcoins.

But the Strategic Bitcoin Reserve is underwhelming in many respects. It does not directly commit the U.S. government to buying it, which was what the whole idea of the reserve was supposed to be. As originally planned, the U.S. government was supposed to buy 200,000 bitcoins per year for the next five years, giving it a very substantial hoard at the end of that time period.

So it's understandable that many crypto investors are disappointed about the Strategic Bitcoin Reserve. After briefly spiking higher on the news, the digital coin began to sell off.

Adding insult to injury, The Wall Street Journal editorial board called the reserve "fool's gold." That was particularly stinging, given that Bitcoin has typically been referred to as "digital gold."

From my perspective, the U.S. government is going to find a budget-neutral way (i.e., no taxpayer funds used) to buy new tokens, even if it means using some creative accounting moves. One methodology, according to Bloomberg, calls for the government to revalue its current gold holdings. Doing so could give it new leeway to buy Bitcoin. Others have suggested that any DOGE cost savings could be used to load up on Bitcoin.

The downside of being a mainstream asset

For much of its history, Bitcoin was largely uncorrelated with any other asset. That was part of its appeal: It could zig when other assets zagged. And it meant that Bitcoin could continue to go up, regardless of the overall economy. This made it a very special type of asset.

Gold coin with Bitcoin symbol.
Image source: Getty Images.

But something very important happened in January of last year. That was when the new spot Bitcoin exchange-traded funds (ETFs) were launched, immediately making buying it as easy as buying a tech stock.

The product launch was wildly successful, and over $100 billion has flowed into these spot Bitcoin ETFs. Some of the biggest buyers were hedge funds, Wall Street investment banks, and investment management firms.

But there is a downside from going mainstream. It also makes the crypto much more susceptible to the daily ebbs and flows of macroeconomic news. The same people deciding which stocks to buy are also deciding which cryptos to buy. If there's news about tariffs, for example, that's going to affect Bitcoin. If there's news about a potential recession, then that is going to do the same.

The one factor that I'm watching right now is how much money is flowing into (and out of) the spot Bitcoin ETFs. These figures are reported by CoinShares every week and are easy to track.

If there are significant outflows, it's a pretty good bet that the crypto's price is going to have a hard time moving upward. And, conversely, if there are significant inflows, it suggests that Bitcoin will rebound soon. Right now, there have been four straight weeks of outflows, so things need to turn around fast.

Where will Bitcoin be at the end of 2025?

Some investors continue to cling to overly optimistic price estimates, confident that catalysts such as the Strategic Bitcoin Reserve are going to send the digital coin to the moon. They are fully expecting it to hit $150,000, and maybe even $200,000 this year. After all, it delivered triple-digit returns in 2023 and 2024 against a backdrop of economic weakness, so why not in 2025 as well?

The only problem is that the likelihood of it soaring to new all-time highs continues to decline. Right now, if you look at what online prediction sites are telling us, there is only a 27% chance of Bitcoin hitting $150,000 this year, and only a 17% chance of hitting $200,000.

So, the big takeaway might be this: If you are counting on Bitcoin to deliver triple-digit returns in 2025, you might be disappointed. However, if you take a long-term view, that's when the picture brightens. I still fully expect Bitcoin to soar in value over the next decade, and that's why I am more than willing to buy the dip right now.

[The Motley Fool ]

The Special Adviser to President Bola Tinubu on Policy Communication, Daniel Bwala, has said Nasir El-Rufai left the All Progressives Congress (APC) for personal ambition.

Naija News reports that Bwala said the former Governor of Kaduna State chose the Social Democratic Party (SDP) over the Peoples Democratic Party (PDP) because he wanted a place where he could exert control.

 

In an interview with TVC on Wednesday, the presidential spokesman recalled that El-Rufai had said he would not leave the ruling party.

 

He said, unlike PDP, SDP has no structure and the party’s Chairman, Shehu Gabam, is El-Rufai’s friend whom he could dictate for.

His words: “The reason El-Rufai didn’t go to PDP is because the structure there, he can’t go and dictate things for them. But he told the world that SDP, the chairman, is his friend. So they went there because they want to go and dictate.

“Let me ask you, with the greatest respect, don’t you have records of El-Rufai saying, I will never leave APC till I die? Don’t you have records where he said, there is no political party other than APC?  I’m not holding it against him. Because it’s possible he may have said that around the time because of his feeling. The only thing I said, which you gave in your monologue, is that your constitutional right of association is guaranteed. I don’t have anything against that. But your motive must be interrogated.”

THE Peoples Democratic Party, PDP, has urged the Federal High Court sitting in Abuja, to declare vacant the seat currently being occupied by the Senator representing the people of Delta North Senatorial District, Sen. Ned Munir Nwoko over his recent defection to the All Progressive Congress, APC.

The PDP in Suit No:FHC/ABJ/CS/454/2025, through it’s Counsel, Dr. Ayo Asala SAN prayed the court to immediately order the Independent National Electoral Commission, INEC to conduct a bye-election to fill the vacant position.

The originating summons dated 27th February, 2025 had the PDP as Plaintiff with Sen. Ned Nwoko, the President of the Senate of the Federal Republic of Nigeria, and the Independent National Electoral Commission before the Court as 1st, 2nd, and 3rd Defendants respectively.

PDP also prayed the Court to direct Sen. Ned Munir Nwoko to return all salaries, allowances and other emoluments received by him as a Senator representing the Delta North Senatorial District in the National Assembly from the date he defected from the PDP to the All Progressives Congress (APC).

In the originating summons, PDP is asking the following questions amongst others;

“Whether or Not, having regard to the clear an unambiguous provisions of Section 68(1)(g) of the Constitution of the Federal Republic of Nigeria,1999(As Amended), the 1st Defendant herein,who was elected under the the platform of the plaintiff herein, namely, the People’s Democratic Party, PDP representing Delta North Senatorial District in the Senate of the Federal Republic of Nigeria(3rd Defendant) and who has now defected to another political party to wit, the All Progressives Congress,(APC) ought not to have vacated his seat as a senator representing Delta North Senatorial District in the National Assembly?

“Whether or Not, having regard to the clear and unambiguous provisions of Section 68(1)(g) of the Constitution of the Federal Republic of Nigeria,1999(As Amended),the 2nd and 3rd Defendants ought to have declared the seat of the 1st Defendant as a senator representing Delta North Senatorial District in the National Assembly vacant, the 1st Defendant having defected to another political party,to wit, the All Progressives Congress (APC) from the plaintiff being the political party that sponsored him for election into the Delta North Senatorial District in the National Assembly.

“Upon the construction/determination of the forgoing questions in favour of the plaintiff, the plaintiff seeks the following reliefs;

“A declaration that the 1st Defendant, having defected from the plaintiff being the political party(People’s Democratic Party) that sponsored him and on whose platform he was elected as a Senator representing the Delta North Senatorial District in the National Assembly to another political party which is the All Progressives Congress (APC), ought to have vacated his seat in the said National Assembly with immediate effect by virtue of Section 68(1)(g) of the Constitution of the Federal Republic of Nigeria,1999(As Amended).

“A declaration that the 2nd and 3rd Defendants are under constitution and legal duties by virtue of Section 68(1)(g) of the constitution of the Federal Republic of Nigeria,1999(As Amended) to declare the seat of the 1st Defendant as a Senator representing Delta North Senatorial District in the National Assembly vacant , the 1st Defendant, having defected from the plaintiff being the political party that sponsored him and on whose platform he was elected as a Senator representing Delta North Senatorial District in the National Assembly to another political party,being the All Progressives Congress (APC).

“An order declaring vacant the seat of Senator representing Delta North Senatorial District in the National Assembly currently occupied by the 1st Defendant and directing the 1st Defendant to with immediate effect, vacate the said seat by Virtue of Section 68(1)(g) of the Constitution of the Federal Republic of Nigeria,1999(As Amended). The 1st Defendant having defected from the plaintiff being the Political party(People’s Democratic Party)that sponsored him and on whose platform he was elected as a Senator representing the Delta North Senatorial District in the National Assembly to another political party namely, the All Progressives Congress (APC).

“An order of this Honourable Court directing the 1st Defendant to immediately vacate his seat as a Senator representing the Delta North Senatorial District in the National Assembly,having defected from the plaintiff being the political party that sponsored him as a Senator representing the Delta North Senatorial District in the National Assembly to another political party to wit, All Progressives Congress (APC).

“An order of this Honourable Court directing the 4th Defendant to immediately conduct a by-election to fill the vacant seat of the Senator representing Delta North Senatorial District in the Senate of the Federal Republic of Nigeria upon declaring the seat vacant.

“An order this Honourable Court to directing the 1st Defendant to return all salaries, allowances and other emoluments received by him as a Senator representing the Delta North Senatorial District in the National Assembly from the date he defected from the plaintiff to another political party to wit,the All Progressives Congress (APC).” It added.

Twenty-seven lawmakers loyal to the Minister of the Federal Capital Territory (FCT), Nyesom Wike, barred Rivers State Governor Siminalayi Fubara from accessing the State House of Assembly on Wednesday morning, preventing him from presenting the 2025 budget.

 
 

Reports indicate that Governor Fubara had arrived at the Assembly early in the day to implement a key provision of the Certified True Copy (CTC) of the Supreme Court judgment—the presentation of the 2025 budget to a properly constituted State Assembly.

However, Assembly staff, speaking anonymously, claimed there was no formal communication regarding the Governor’s visit.

“I am not aware that the Governor was scheduled to be at the Assembly today (Wednesday). If such information existed, the Rt. Hon. Speaker would have informed us. As of now, we have no knowledge of his visit,” a source stated.

However, Fubara said he communicated his coming to Speaker Martins Amaewhule through a letter and has tried to call him on the phone since Tuesday.

Meanwhile, Fubara has reaffirmed his commitment to fully implementing the recent Supreme Court judgment, emphasizing that his administration will adhere strictly to the ruling.

Fubara made this declaration on Tuesday in Port Harcourt during the inauguration of the New Judges’ Quarters, built by his administration in the Old GRA area of the state capital.

The governor stressed that no personal ambition or political dispute should supersede the collective peace and stability of Rivers State, stating that no sacrifice is too great for peace.

The governor acknowledged that the past 16 months had been rough for his government, saying that he would leave office one day but that his good work would speak for him.

He said since the crisis started, a lot of money and resources that should have been channelled to the development of the state had been wasted by both sides.

The Special Adviser to President Bola Tinubu on Policy Communication, Daniel Bwala, has said former presidential candidate of the Labour Party, Peter Obi, will join the ruling All Progressives Congress (APC).

Naija News reports that Bwala said the presidency and the APC were having success in emptying the Labour Party.

 

In an interview with TVC on Wednesday, the presidential spokesman said the former Labour Party presidential candidate would not run for presidency under the party.

“Do you know we are emptying Labour Party? Not because we go and ask them to come. They are coming. Valentine Ozigbo has joined us. Balami has joined us. Even Peter Obi will join us. I mean, we are successful in this window. Peter Obi will not run in Labour Party. They are all leaving Labour Party,” he said.

 

Asked why he was sure of Obi’s defection to the ruling party, Bwala explained that the defection of Valentine Ozigbo to the APC signalled the former Anambra governor’s next move.

He added that the defection of opposition political leaders to the Social Democratic Party (SDP) would not work.

According to him, the question of who becomes the presidential candidate and who gets what would affect any coalition movement.

For Valentine Ozigbo to come to our party. Valentine Ozigbo is actually the custodian of Peter Obi. Right? Then I know for a fact that Peter Obi will join us. Do you know why I said that? It’s after one week or two weeks of these melodramatic activities.

“The way they scheme this thing is that every week you will hear a breaking news. A gladiator has joined SDP so that they will dominate the media space with conversation. And I hope that the media will be smart enough to know that. But that is what they intend to do to keep the conversation in the media. But the thing is, why I said he will join us is, by the time the two weeks is over, and they are able to enjoy this momentarily coverage, when they sit down, they will start fighting. Who will be president? Who will be vice president? Who will determine what?” Bwala added.

The presidency has opined that President Bola Tinubu’s government is unperturbed by the defection of the former Governor of Kaduna State, Nasir El-Rufai, to the Social Democratic Party (SDP).

Naija News reports that El-Rufai has officially resigned from the All Progressives Congress (APC) and joined the SDP, citing irreconcilable differences with the ruling party’s leadership.

 

In an interview with TVC on Wednesday, March 12, 2025, the Special Adviser to the President on Policy Communication, Daniel Bwala, stated that El-Rufai’s decision is not based on any ideology but ambition.

 

According to him, El-Rufai’s exit from the APC and his threat to unseat President Tinubu is inconsequential, stressing that his principal remains focused on governance with improved security and driving down food prices.

He said, “We are not perturbed by El-Rufai’s defection; before now we have engaged him if he could reconsider his decision because his decision is not built on any ideology we all known. El-Rufai admitted it himself, and his grievance is because he was not appointed a minister. His decision is not ideology-driven but ambition-driven. We are hearing of different permutations, some say he would pair with Osinbajo.

“Nasir El-Rufai’s exit from the APC and his threats to unseat President Tinubu, which I consider inconsequential. The President remains focused on governance, with improved security driving down food prices. Unlike in the past, private interests no longer exploit the system at Nigerians’ expense—we’re building a sustainable economy through due process and accountability.

“Just to buttress that El-Rufai’s exit lacks ideological basis, and APC remains strong, attracting even opposition figures. Nigerians should keep faith with Mr. President—his reforms are yielding results, and better days lie ahead.”

 
 

Social media content creator Ifeluv has announced the end of her relationship with her fiancé and baby daddy, Oluwadolarz.

The breakup comes just four months after Oluwadolarz proposed to Ifeluv. 

In a post shared on her Instagram page Tuesday evening, Ifeluv accused the singer of infidelity and financial irresponsibility, claiming he failed to fulfill his promises after their engagement.

 

In the lengthy statement now deleted, she said: “I left him the first time because of cheating. He spent two years trying to convince me that he had changed.

“Meanwhile, I have been taking 85 per cent responsibility for our child because he is broke most of the time. Just living a fake life and chasing anything in a skirt. He absolutely has nothing to his name. If you give him an advert deal, he won’t deliver.

“Brands keep threatening him, and every time he sees me achieving something, he starts crying because he hates it. But guess what? I make my own money.

“I rarely even visit him. He even embarrassed me online with a public apology, and I let it slide, accepting his proposal—only to go pick up my son at his place and find his actress, Lola, hiding in the bathroom. And this guy looked me dead in the eye and said nothing was going on! This man was my absolute first. But now? It’s over.”