The overall cryptocurrency market has climbed 24% since the presidential election in November. Donald Trump embraced digital assets during his campaign and, while upward momentum has stalled in recent weeks, some Wall Street experts still anticipate big gains in XRP (CRYPTO: XRP) and Bitcoin (CRYPTO: BTC).

Dom Kwok, former Goldman Sachs employee and co-founder of blockchain education company EasyA, earlier this year said XRP had a good shot at replacing Ethereum as the second most valuable cryptocurrency. As of Feb. 27, Ethereum has a market value of $282 billion, while XRP has a market value of $128 billion. So, Kwok's prediction currently implies at least 120% upside in XRP.

Tom Lee, managing partner and head of research at Fundstrat Global Advisors, late last year said Bitcoin could exceed $250,000 in 2025 as spot Bitcoin exchange-traded funds (ETFs) and the incoming presidential administration help legitimize the cryptocurrency. As of Feb. 27, Bitcoin trades at $86,000, so his prediction implies 190% upside.

XRP: 120% implied upside

XRP is the native cryptocurrency on the Ripple blockchain, a platform built for cross-border payments and foreign currency exchanges. Most international payments are currently routed through the SWIFT (Society for Worldwide Interbank Financial Telecommunications) system, but the process often involves intermediaries that make transactions costly and time consuming.

Ripple designed what it believes is a better system. Its blockchain uses the XRP token as a bridge currency to enable faster, less expensive payments. While fewer than 200 financial institutions currently use the platform, adoption could increase when the lawsuit with the Securities and Exchange Commission (SEC) has been completely resolved.

To elaborate, the SEC sued Ripple in 2020, alleging it sold XRP as an unregistered security. In August 2023, a U.S. district judge issued a split decision, ruling certain transactions were exempt but others should have complied with securities laws. The result was a $125 million fine for Ripple, far less than the $2 billion the SEC wanted. But the SEC has since appealed the decision.

Importantly, Ripple recently introduced a stablecoin called Ripple USD (RLUSD). Its value is tied to the U.S. dollar, providing enterprises with a less volatile means of transacting on the Ripple blockchain. However, the stablecoin should still boost demand for XRP because the native cryptocurrency will be used to pay fees on RLUSD transactions.

Finally, several asset managers have submitted applications to the SEC to create spot XRP ETFs. Those funds would offer XRP exposure without the hassle and high fees associated with cryptocurrency exchanges. Bitcoin has gained more than 80% since the SEC approved spot Bitcoin ETFs in January 2024, and XRP could generate similar returns.

 A rout in Bitcoin deepened on Friday as investors rushed to safe assets in the wake of US President Donald Trump’s latest tariff threats, marking a dramatic reality check for one of the most popular Trump trades.

The cryptocurrency tumbled as much as 7.2% on Friday to the lowest since early November and is down some 27% since it hit an all-time high less than six weeks ago. The selloff came amid a broad plunge in cryptocurrencies, with Ether, Polkadot and XRP all dropping more than 7% on Friday.

“The last time we saw sentiment like this was 2022,” said Caroline Bowler, chief executive officer of BTC Markets Pty Ltd, referring to the “crypto winter” when prices plummeted amid rising interest rates and industry woes. “This tanking can be viewed as a response to macro fears on Trump’s tariffs and geopolitical uncertainty.”

Trump said Thursday that 25% tariffs on Canada and Mexico would come into force from March 4, undermining hopes he might reverse course after a previous delay. He also said Chinese imports would face a further 10% levy, prompting officials in Beijing to promise “all necessary measures” in response.

The focus on trade tensions led to a broad risk-off decline across markets on Friday, pushing down almost all Asian stock markets and fueling declines in European futures. But cryptocurrencies — which are deeply exposed to shifts in risk appetite — were among the worst hit.

Bitcoin has now fallen more than 20% in February. If the decline holds through the end of Friday, it would mark the biggest monthly drop since June 2022.

Trump Trade Woes

The selloff underscores a swift change of fortunes for what was previously one of the most popular Trump trades in global markets: buying Bitcoin on the expectation that the president’s crypto-friendly approach would lead to a broad rally.

That worked for a while. Bitcoin hit its all-time high of $109,241 on Jan. 20, the day of Trump’s inauguration. But cryptocurrencies have recently come under pressure amid worries that Trump’s pugilistic approach to global trade could lead to broad pain.

“Given the macro environment, it’s not surprising to see we are where we are,” said Stefan von Haenisch, director of over-the-counter trading in Asia Pacific at crypto custody firm Bitgo Inc. Traders are still waiting for Trump to come up with concrete steps for the sector including a Bitcoin stockpile, he said.

China has vowed to take all necessary countermeasures after U.S. President Donald Trump announced a fresh 10% tariff hike on Chinese imports.

CNBC reports that this latest escalation in the ongoing trade dispute between the world’s two largest economies has raised concerns over global market stability and potential economic ramifications.

The Chinese Ministry of Commerce, in a statement released on Friday, expressed firm opposition to the U.S. decision, warning of potential retaliatory measures.

“If the U.S. insists on its own way, China will take all necessary countermeasures to defend its legitimate rights and interests,” the Ministry stated, according to a CNBC translation. 

The statement further urged Washington to reconsider its approach, emphasizing the importance of resolving conflicts through dialogue based on equality.

“We urge the U.S. side to not repeat its own mistakes, and to return as soon as possible to the right track of properly resolving conflicts through dialogue on equal footing.” 

Timing and Implications 

• The new tariffs, set to take effect on March 4, will coincide with the start of China’s annual parliamentary meetings, a period of heightened economic and political discussions in Beijing.
• These additional duties follow an earlier 10% tariff imposed by Trump on February 4, bringing the total tariff increase to 20% within a month.
• Trump justified the decision by citing China’s alleged role in the fentanyl crisis. The synthetic opioid, whose precursors are largely produced in China and Mexico, has been responsible for tens of thousands of overdose deaths in the U.S. annually.

Potential Chinese Retaliation 

Economic analysts predict that China’s response will include higher tariffs on select U.S. imports, placing more American firms on its unreliable entity list, and possibly tightening export controls on critical minerals, a sector where Beijing holds significant leverage.

Neil Thomas, a fellow on Chinese politics at the Asia Society, noted that while Beijing’s reaction may be measured, it is expected to target strategic sectors.

“In the short term, China’s response will likely include raising tariffs on select U.S. imports, adding more American firms to its unreliable entity list, and potentially further tightening export controls on critical minerals,” Thomas said. 

Alfredo Montufar-Helu, head of the China Center at The Conference Board, added that China’s response could be strategically designed to impact industries that are important to Trump’s voter base, keeping the door open for further negotiations.

He said China would prefer to leave some room for further negotiations as it hopes to avoid even higher import tariffs and other ‘corrective’ measures by Washington.

Previous Retaliatory Measures 

China has a track record of targeting U.S. industries in retaliation to tariff hikes. Following the February 4 tariffs, Beijing responded by increasing duties on certain U.S. energy imports and placing two American firms on its unreliable entity list, limiting their ability to conduct business in China.

Additionally, China has increased restrictions on exports of critical minerals essential for U.S. industries, a move that could severely impact supply chains.

Stephen Olson, a visiting senior fellow at the Institute of Southeast Asian Studies and a former U.S. trade negotiator, highlighted the significance of China’s control over essential raw materials.

“The sharpest arrow that China has in its quiver would be to restrict U.S. access to critical minerals that can’t readily be sourced elsewhere,” Olson remarked. 

The trade war escalation has raised concerns about potential disruptions in global supply chains and economic growth. China’s exports have remained a rare bright spot in its otherwise slowing economy, and with the U.S. being its largest single-country trading partner, both nations have a vested interest in preventing further economic downturns.

[Nairametrics]

The factional Speaker of the Lagos State House of Assembly, Mudashiru Obasa, has said that he has been a disciple to President Bola Ahmed Tinubu since he left secondary school.

Obasa stated this while answering questions in relation to the crisis rocking the state House of Assembly during an interview on Channels TV’s Politics Today on Thursday.

Obasa had stormed the assembly on Thursday alongside his security details and presided over ‘plenary’ attended by four lawmakers, a development which has deepened the crisis.

When asked whether he has Tinubu’s backing in the crisis, Obasa said, “I have been following this man since I just left secondary school. I have pictures to prove this. During SDP I contested for delegate.

“Since then I have always been one of his disciples and I will not change tomorrow. I have always been a loyalist. If they are just realising that now, then they have not been part of us from the genesis.”

On the alleged misunderstanding with Governor Sanwo-Olu, Obasa said that he had been working with the governor smoothly.

“It is not a sin to have an ambition. The governor is my leader and brother. And there is no reason for me to disrespect him. If I have taken a step or an action that seems disrespecting him that might have happened unconsciously.

“Number one, the governor is in our state. We have to respect him and he is my brother. So, as far as I am concerned, there is nothing like that.

“Governorship ambition is not in my consideration. But that doesn’t mean I am not qualified,” he added.

[DailyTrust]

Nigerian singer Timaya and his American girlfriend, Brooke Bailey, have dispelled rumors of their separation.

Speculation recently emerged that the couple had separated after Brooke Bailey unfollowed Timaya on Instagram and deleted all photos of him from her page. The singer also does not have photos of Bailey on his Instagram page and is not following anyone on the platform.

Shutting down the rumors, the couple, via their respective InstaStories, reposted a cozy photo of themselves.

Recall that in December 2024, Timaya and Bailey sparked relationship speculations after they were spotted holding hands while boarding a private jet.

The American reality star also expressed her love for Timaya while in Bayelsa to support him during his homecoming concert in January.

Thereafter, the couple shared photos and videos of themselves professing their love for each other.

[DailyPost]

The Speaker of the Lagos State House of Assembly, Mojisola Meranda, has faulted the action of her predecessor Mudashiru Obasa, who showed up at the Assembly on Thursday, insisting he is still the speaker.

Recall that The Nation had reported that Obasa, returned to the House in a shocking move on Thursday.

Obasa, who was removed as Speaker by 36 lawmakers on January 13, 2025, came in the company of security officials and made his way into the Speaker’s Office around 9 am.

He seized control of the Speaker’s office and held what could be described as a plenary session with four lawmakers loyal to him. Other lawmakers present at the 40-member assembly boycotted the session.

The ousted Speaker proclaimed that his removal was null and void, and asserted that he remains the legitimate Speaker of the House.

Reacting, Meranda said: “Well, this is just the beginning and just like what happened in there, both parties have their representatives, and I think we should allow the legal team do their job. 

“Well, I think he (Obasa) is still a member of the assembly, so he has every right to be at the assembly, but I think the invasion and breaking into my office is really a big one. 

“The sitting with just lawmakers is a show of shame because in our job, we’ve numbers that must form quorum. If you’re sitting with only 3 or 4 lawmakers, then you’re only doing theatre. 

“The public will be notified on the next sitting of the house.”

The Senator representing Kogi Central, Natasha Akpoti-Uguaghan, has accused the Senate President, Godswill Akpabio, of sexual harassment.

Akpabio has since denied the allegation through his media consultant, Kenny Okulogbo,

Akpoti-Uduaghan made the allegation during an interview with Arise Television on Friday.

She alleged that Akpabio blocked her motions from being heard on the floor of the Senate because she rejected his advances.

The Kogi lawmaker added that by rejecting Apkabio’s sexual advances, she was subjected to persistent harassment and malignment in his home in Uyo, the Akwa Ibom state capital, and his office.

She said, “My issue with Akpabio started on the 8th of December, 2023, when my husband and I attended a pre-birthday invitation extended by the Senate President at his residence in Uyo. We had earlier gone to his house at Ikot-Ekpene, and he held my hand and said he wanted to show me around his house. Just the three of us, my husband and him. I noticed he hastened his pace while still holding my hand, and he got to this particular sitting room.

“He asked ‘do you like my house?’ and I replied ‘of course yes,’ and he said, ‘now that you are a Senator, you are going to create time for us to spend quality time here and you will enjoy it.’

“Later, on the floor of the Senate, I attempted to raise a motion regarding corrupt practices at the Ajaokuta Steel Company. I listed this motion five times, and it was only on the sixth occasion that it appeared on the order paper. When I approached the Senate President to enquire why my motion had been repeatedly stepped down, he told me ‘Natasha, I am the Chief Presiding officer of the Senate. You can enjoy a whole lot if you take care of me and make me happy.’ At that point, I told him that I would pretend I didn’t hear that.

“My case is a case of a student being punished by a lecturer for refusing to sleep with him.”

Speaking further, Akpoti-Uduaghan said some senators had warned her to adhere to the seat change because it was a trap.

She added, “I was approached by a sergeant-at-arms in the Senate chamber who informed me that my seat had been changed by the Senate President, Godswill Akpabio. This was news to me because I had attended the last session and had not been informed of any changes. Before the Senate President could announce my suspension, I needed to invoke Order 10, which serves as an SOS for Senators who feel their rights have been breached. The Senate President made a mistake by not allowing me to speak on that Order 10.”

Reacting to the allegation in an interview with PUNCH Online correspondent, the media consultant to the Senate President, Kenny Okulogbo, described the allegations as tissues of lies.

Okulogbo stated that the Kogi lawmaker is angry because she was removed as the Chairman of the Senate Committee on Local Content.

He said, “All that Senator Natasha said are all tissues of lies. She is just angry because she was removed as the Chairman of the Senate Committee on Local Content.

“The Senate President will respond. We will make an official statement soon.”

[Punch]

Samuel Shafiishuna Daniel Nujoma was on the verge of an historic victory on November 11, 1989. The votes for the first democratic elections in Namibia, his long suffering country, were being counted. The colonial South African Apartheid regime was billed to grant independence in March 1990. It was night. Suddenly, the lights went off. Nujoma and the South West Africa People’s Organisation, SWAPO, liberation movement he had co-founded, were far ahead in the vote count and it appeared that the Apartheid regime was bent on scuttling the process.

Some of the election monitoring teams, including Nigeria, immediately organised all cars available to switch on their lights and beam them at the counting centre. Also, the contingent of Nigeria policemen produced their torch lights to check any possible rigging and, enable the counting to go on.

A member of the Nigerian delegation, Ambassador Joe Keshi, then walked up to the leader of the Apartheid regime at the centre and warned that with Nujoma and SWAPO in a comfortable lead in the vote count before the lights went off, it must remain so otherwise the regime would have serious trouble in its hands. The Apartheid chief protested his innocence, saying the light failure was merely coincidental.

After the count and clear victory, Keshi went to see Nujoma in his house. He was not aware that Nujoma had been briefed about him confronting the Apartheid chief. As soon as he entered the sitting room, the famous guerilla fighter, in joy,grabbed Keshi and tried to lift him off the ground. Both men almost fell. That was the very warm, hospitable, respectful and humane Nujoma.

At the Wednesday, February 26, 2025 celebration of the life of Nujoma held in the Rotunda Hall of the Nigerian Foreign Affairs Ministry, retired Assistant Inspector General of Police Ezidinma Ifejika recalled the lights out incidence. He had led the 183-man Nigerian police contingent to Namibia. Immediately the lights went off, his men had produced torch lights to prevent any hanky-panky. He said Nujoma later sent for him and personally thanked him for the quick intervention of the Nigerian policemen.

After the elections, the new government requested that the Nigerian, Irish, Pakistani, Ghanaian and Indian contingents stayed for another three months to teach the Namibian Police better policing.

The Apartheid regime had conceded to Namibian independence for 1990 after the Cuban military had travelled 11,032 kilometres to Angola and inflicted a crushing defeat on its military forces. The unrelenting Cuban forces had pushed back the invading Apartheid military into Namibia. To avoid a catastrophic capitulation, Apartheid South Africa signed a truce agreeing to Namibian and South African independence.

At the Abuja programme for Nujoma, Cuban Ambassador to Nigeria, Miriam Morales Palmero who met Nujoma a number of times, said the comradeship of Cubans and Namibians was forged on the battlefield. She said Cuba awarded Nujoma the Jose Marti award for his contributions to human liberation. Palmero, a former World Youth Leader, commended Nujoma for making youths an integral part of decision-making in Namibia.

The Angolan Embassy said in Nujoma we have lost a Pan Africanist who dedicated his entire life to the cause of freedom. It recalled that Nujoma lived part of his exile life in Angola where SWAPO also had a base which was partly responsible for the invasions by Apartheid forces.

Foreign Minister Yusuf Maitama Tuggar paid tribute to Nujoma whom he described as an African giant who was not a vacillator. Nujoma, he said, was a voice of the voiceless and champion of the marginalised who helped to unite the diverse groups of Namibia. He praised him for giving priority to education and healthcare.

Chief Emeka Anyaoku, GCON, Secretary General of the Commonwealth of Nations, 1990-2000, said it was with sadness he heard that the great Iroko tree of Namibia had fallen. He recalled that Nujoma was so appreciative of the role he played in the independence struggle that he conferred Namibia’s national honour on him.

Senator Ike Omar Sanda Nwachukwu, a retired Major General who was Nigeria’s Foreign Minister in 1990, the year Namibia secured independence, recalled that when they met, Nujoma wore a well-groomed beard and a meek look that camouflaged a tough fighter. He said Nigeria was completely dedicated to the liberation of Namibia and that apart from redeeming all its pledges to that country, it also established a N100 million Namibia Solidarity Fund. He said Nujoma was a man of character who was prudent and selfless and a true Pan Africanist.

Ambassador Bagudu Mutle Hirse, former Minister of State, Foreign Affairs, was in regular consultation with Nujoma when he was Nigerian Higher Commissioner to Namibia from February 2000. He revealed that the late liberation fighter used to tell him that what Namibia got was political, not economic independence. Nujoma, he said, regarded Nigeria as his second home.

Ambassador John Kayode Shinkaiye, who was Chief of Staff to the Chairperson of the African Union Commission, said Nujoma was an exceptional and remarkable African leader who rallied international support for Namibia’s independence.

Shinkaiye who was one of the African diplomats who saw off Nujoma at the airport on his last visit to Britain as a freedom fighter, said the late Namibian President was known for his candid opinion. He said in and out of office, Nujoma was a friend of Nigeria. Regrettably, he added, same cannot be said of some other countries Nigeria supported in the liberation struggles.

The Director General of the National Institute of International Affairs, Professor Eghosa Osaghae, who described Nujoma as a great African liberator, recalled that a number of prominent post-colonial leaders in Namibia were educated in Nigeria. He gave the example of Professor Peter Katjavivi who attended Government College, Umuahia from 1963-1966 and went on to become the founding Vice Chancellor, Namibia University and later, Speaker of the Namibian National Assembly. 

The Zimbabwean Embassy which spoke on behalf of the Southern African Development Community, paid tribute to liberation leaders like Nelson Mandela, Robert Mugabe, Kenneth Kaunda and Sam Nujoma all of whom, it noted, clocked at least 95 before departing. It thanked Nigeria for supporting the liberation struggles in the continent.

The Namibian High Commissioner Humphrey Geiseb said from an early age Nujoma recognised the injustice done to his people, had to go on exile and became the symbol of hope. His administration, he said, championed education, land reform and laid the basis for economic development. He thanked Nigeria for standing by Nujoma and SWAPO from 1960 and that in appreciation, the major road on which the Nigerian High Commission is situated in Namibia is named after Murtala Mohammed, a former Nigerian Head of State.

Nujoma passed away in Windhoek on February 8, 2025.