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President Bola Tinubu has congratulated Nasir el-Rufai, former governor of Kaduna, on his 65th birthday.
Tinubu commended el-Rufai for his “endeavours for democracy and meritorious service to the nation”.
In a statement issued on Sunday by Bayo Onanuga, presidential spokesperson, Tinubu commended the former Kaduna governor for his role in the formation of the All Progressives Congress (APC).
“President Tinubu celebrates Mallam El-Rufai on this occasion and commends his endeavours for democracy; his meritorious service to the nation, and mentorship of the younger generation,” the statement reads.
“The President acknowledges Mallam El-Rufai’s role in the dialogues leading up to the formation of the APC and his contributions to the success of the party in the three consecutive elections of 2015, 2019, and 2023.
“President Tinubu wishes El-Rufai good health and strength for continuous service to the nation.”
The president’s felicitations come amid the political friction between his camp and the former Kaduna governor.
In the build-up to the 2023 elections, el-Rufai was one of the northern leaders who insisted that power must return to the south after the tenure of former President Muhammadu Buhari.
The former Kaduna governor supported the presidential ambition of Tinubu.
After Tinubu won the election, el-Rufai was nominated as a minister but the senate withheld his confirmation, citing security concerns.
The development was interpreted by political analysts as a move to whittle down his influence in the presidency.
Despite initially retreating from the political scene, el-Rufai recently resurfaced, unleashing a series of scathing critiques of the APC and the administration of Tinubu.
He is also known to constantly retweet X(formerly Twitter) posts critical of the Tinubu administration.
Of late, there have been unconfirmed reports that el-Rufai is seeking another political tent ahead of the 2027 elections.
The former governor also recently alleged that there may be plans to arrest and torture him upon his return to the country
Businessman Tunde Ayeni has denied the authenticity of a DNA certificate presented by Adaobi Alagwu, which allegedly proves his paternity of her child.
Ayeni, a former chairman of the board of directors, Skye Bank Plc, has been in the public eye over a paternity tussle with Alagwu, an Abuja-based lawyer.
Alagwu claimed they dated in 2019 and that she welcomed a child with Ayeni in the United States in 2022.
The businessman, however, denied the allegations and insisted that he “is not in any way connected to the child”.
In July 2023, Biola, Ayeni’s wife, argued that her husband was a target for “runs girls” who use “diabolical” means to seduce “unsuspecting and naive victims” due to his popularity.
However, TheCable Lifestyle recently obtained a DNA test report, which attributed a “99.9999997% probability of paternity” to Ayeni.
According to the now-disputed report, the DNA test was conducted at the DNA Diagnostics Center (DDC) in London on April 11, 2023.
The test results allegedly identified Ayeni as the biological father of Alagwu’s child. It stated that “the alleged father is not excluded as the biological father of the tested child”.
“Based on testing results obtained from analyses of the DNA loci listed, the probability is 99.9999997%. The probability of paternity is calculated by comparing to an untested, unrelated, random individual of the black population (assumes prior probability equals 0.50,” it added.
“Note: one possible mutation was observed. The mutation frequency was included in the calculation of the probability of paternity. This paternity calculation does not take into consideration any Biological relatives of the alleged father.”
Also, court documents filed by Ayeni’s lawyers and obtained by TheCable Lifestyle admitted that he paid “the customary dowry required to marry Alagwu in 2022, but the marriage didn’t proceed. In 2024, the dowry was returned to Ayeni, who accepted it”.
The dispute, according to the document, led to a summons from a customary court in Abuja, where Ayeni (the complainant) sought to dissolve the customary marriage due to its breakdown.
AYENI DENIES ALAGWU’S ALLEGATIONS
In a statement shared with TheCable Lifestyle, Ayeni claimed the certificate is “fake and compromised,” citing “irregularities in the DNA testing process”.
He alleged that Alagwu and her associates hacked into the email accounts of the laboratory responsible for the DNA test and inserted a fake document to support her claims.
The businessman reiterated that he has no “biological relationship with Alagwu’s child” and is seeking a new, independent DNA test to confirm his position.
“This lady is being clever by half. She is haunted by her reckless past and is truly desperate. It is this desperation that is pushing her on this journey to infamy and ultimate disgrace,” the statement reads.
“It has become necessary to once again address the persistent and shameful campaign of blackmail, deceit, and defamation orchestrated by Ms. Adaobi Alagwu. When I say the certificate is fake, it is a position informed by indisputable facts.
“First, the result was meant to be out in five days. Later, a letter, purportedly from the centre, came pushing the date the result will be ready by two extra days. When we cross-checked from the centre, they denied knowledge of the said letter and the Indian name that signed it.
“At that point, it became crystal clear to us that the process has been compromised and that the outcome can not be genuine. We have since discovered other nefarious steps taken to come about the so-called DNA certificate.”
Ayeni also alleged that Google notified him that his email account had been compromised at a critical point when they were expecting the DNA test results.
He claimed that “this was not a coincidence” and that it was clear that the “process had been compromised”.
Ayeni also denied “marital connection to Alagwu,” adding that his position has been “repeatedly affirmed through official legal documents, including an affidavit”.
“This desperation will lead Adaobi nowhere. If she is confused about the true father of her daughter, she should invite her numerous dates for DNA tests,” the statement added.
He also stated that legal actions are ongoing to address the alleged blackmail and cyber-attacks.
Alagwu was summoned by the court on February 11, 2025, to answer questions by Ayeni regarding their purpoted marriage but she was absent in court.
The court however adjourned the case till February 17.
Ali Pate, coordinating minister of health and social welfare, says the federal government is planning to engage 28,000 Nigerian health workers previously being paid by the United States Agency for International Development (USAID).
Speaking in an interview on Channels Television on Friday, Pate said the federal government is ready to take ownership of the country’s healthcare sector amid the change in the policy of the US government.
US President Donald Trump recently ordered a funding pause for HIV treatment in developing countries as part of an executive order on foreign aid. The executive orders also affected the operations of USAID and other foreign interventions of the US government.
As a result, the US Department of State suspended the disbursement of funds from the president’s emergency plan for AIDS relief (PEPFAR).
PEPFAR is providing HIV treatment for more than 20 million people living with the disease in Nigeria and globally, including 566,000 children under 15 years of age.
However, the joint United Nations programme on HIV/AIDS in a statement had said the US government approved a waiver that allows people living with HIV to continue accessing treatment.
Recently, the federal executive council (FEC) approved an allocation of N4.5 billion for the procurement of HIV treatment packs to support Nigerians living with HIV/AIDS.
‘FG TO REDUCE FOREIGN DEPENDENCE’
Speaking further, the health minister said Nigeria has not invested heavily in the healthcare sector, adding that President Bola Tinubu’s administration is ready to change the narrative.
Pate said more than 70 percent of the medications being used in Nigeria are imported and that the country also imported more than 99 percent of its medical devices.
The health minister said 30 percent of the country’s health expenditure comes from the government while 70 percent comes from private individuals.
He noted that while part of the government’s healthcare expenditure is funded by external donors, foreign funding does not make up the largest portion of the country’s healthcare spending.
The health minister acknowledged the role played by the US government in supporting the country’s healthcare.
He said the federal and state governments must come together to fill the gaps created by the suspension of US aid and reduce foreign dependence.
“Quality healthcare is not cheap. We, as a country, have not invested in it yet and we are asking for the highest quality healthcare,” he said.
“Domestically, we have not invested. We have since things changed in the last 18 months with the deliberate efforts to improve investments and to allocate investments to where it matters — the foundation.
“Can you believe that more than 70 percent of our drugs, we import them with foreign exchange that we don’t really have.
“We are a capable country and we are determined to own up to that responsibility. If others step in and support us, we appreciate it but we are not begging.
“There are health workers, 28,000 of them who are being paid through US government support. While it has been appreciated, these health workers are Nigerian, we have to transit them.
“Our approach, long before the change in US policy, has been to increase national ownership.”
President Bola Tinubu has congratulated Mallam Nasir Ahmad El-Rufai on his 65th birthday.
In a statement which Bayo Onanuga, Special Adviser to the President on Information and Strategy, issued on his behalf, Tinubu described El-Rufai as an administrator, scholar, and politician.
“He is a founding member of the All Progressives Congress (APC) and highly regarded for his resourcefulness and brilliance.”
“He served as governor of Kaduna State for eight years, and prior to elective office, he had served as Director-General of the Bureau of Public Enterprises, and Minister of the Federal Capital Territory (FCT) from 2003 to 2007.
“President Tinubu celebrates Mallam El-Rufai on this occasion and commends his endeavours for democracy; his meritorious service to the nation, and mentorship of the younger generation.
“The President acknowledges Mallam El-Rufai’s role in the dialogues leading up to the formation of the APC and his contributions to the success of the party in the three consecutive elections of 2015, 2019, and 2023.”
Onanuga said President Tinubu wished El-Rufai good health and strength for continuous service to the nation.
El-Rufai was among those saying pencilled down to serve in Tinubu’s government before the dynamics changed.
Although nominated minister, the senate failed to clear him during screening.
He has since been critical of the APC government and its policies.
[DailyTrust]
Osun State governor, Ademola Adeleke on Sunday raised the alarm that the Minister of Marine and Blue Economy, Gboyega Oyetola, is planning to cause mayhem in the state from Monday, February 17, 2025.
Adeleke made the allegation during a press conference on Sunday.
It was gathered that Oyetola is spearheading moves to enforce a court order which reversed the sack of local council chairmen, elected on the platform of the All Progressives Congress, APC, in the state.
Adeleke alleged that Oyetola is conspiring with several law enforcement agents, including the State Commissioner of Police and the State Director of the Department of State Services, DSS, to destabilize the state.
Adeleke said: “I called this press conference to alert the national and global audience about a deliberate plot to create chaos and anarchy in Osun State.
“I invite you all to expose a fascist anti-democratic agenda designed to enforce a non-existing court judgment on our local governments.
“This evil plot is being spearheaded by the Minister of Marine and Blue Economy, Mr Gboyega Oyetola in active collaboration with the Osun state Commissioner of Police, the Osun state Director of DSS and the State Commandant of the Civil Defense Corps.
“Before I continue this address, let me affirm that I know Mr. President to be a true democrat, a lover of rule of law, and a believer in the sanctity of the judicial process.
“I know, as a matter of fact, that Mr. President will never authorise a dictatorial violation of the constitution irrespective of who is involved. It is crucial to add that Mr. President will never support any action that is capable of generating bloodbath and bloodshed.
“I, however, regret to inform Mr. President and the public that Mr Gboyega Oyetola has concluded an arrangement to cause mayhem in Osun State starting from Monday.
“He is issuing illegal directives to security operatives to enforce illegality simply because he is the nephew of Mr. President.
“I chose to alert the nation before my people are killed or maimed by a minister dropping the name of Mr. President in connivance with the Osun State security operatives obeying unlawful orders.
“The bone of contention is the brazen effrontery to return to office council chairmen sacked by a subsisting court judgment using a different court decision, which has no consequential order.
“Let me make it clear that the said council chairmen were sacked before I was sworn in as governor of Osun State, contrary to the lies being peddled, that the chairmen and councilors were sacked by my Executive Order.”
[DailyPost]
The Ekiti State Police have arrested Jimoh Abdulrahman for allegedly assaulting his wife, Mrs Akintunde Bidemi Taiwo, a nursing mother.
The incident gained widespread attention after a viral video surfaced, showing the brutal attack.
In a statement issued on Sunday, the Police Public Relations Officer, SP Sunday Abutu, confirmed that the arrest took place on Saturday following an order from the Commissioner of Police, Mr Joseph Eribo.
The case has been transferred to the Gender-Based Violence Unit of the State Criminal Investigation Department for thorough investigation and subsequent arraignment.
Abutu detailed the arrest, stating, “On February 15, 2025, at approximately 19:00 hours, the Ekiti State Police Command arrested Jimoh Abdulrahman, who had severely assaulted his wife, Mrs Akintunde Bidemi
Taiwo, a resident of Nova Area, Ado Ekiti.”
Following a tip-off and the circulation of the disturbing viral video, Commissioner Eribo instructed the Divisional Police Officer at Oke-Ila, Ado Ekiti, to take immediate action.
“The operatives from the Oke-Ila division moved swiftly to apprehend the suspect, and the case has now been handed over to the GBV Unit of the State CID for further investigation and legal proceedings,” Abutu concluded.
[Punch]
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.
More...
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]