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Trump to welcome crypto elite at White House
US President Donald Trump, who has multiple ties to the crypto industry, will host the sector’s top players at a White House summit on Friday, as the field enjoys renewed momentum following his election.
The US crypto community rallied behind Trump’s campaign, contributing millions of dollars towards his victory over Joe Biden, whose administration tightened regulations and expressed skepticism toward digital currencies. Now, they’re seeing their support pay dividends.
Trump has waded into the space personally as well, partnering with exchange platform World Liberty Financial and launching his own “Trump” memecoin in January as his wife Melania did the same — moves that have prompted conflict of interest accusations.
The president’s “crypto czar,” Silicon Valley investor David Sacks, will convene prominent founders, CEOs, and investors with members of a Trump working group to craft policies aimed at accelerating crypto growth and providing the legitimacy the industry has long wanted.
Guests will include twins Cameron and Tyler Winklevoss, founders of platform Gemini, with reports that Brad Armstrong of Coinbase and Michael Saylor, the boss of major bitcoin investor MicroStrategy, will also be in attendance.
Hanging over the crypto resurgence is the fate of FTX, the once-leading crypto exchange that collapsed spectacularly when its CEO Sam Bankman-Fried was found to have defrauded clients massively. He is now serving a 25-year term in a US jail.
For believers, cryptocurrencies represent a financial revolution that reduces dependence on centralized authorities while offering individuals freedom from traditional banking systems.
Bitcoin, the world’s most traded cryptocurrency, is heralded as an alternative to gold or as a hedge against currency devaluation and political instability.
– Crypto warnings –
Critics maintain these assets function primarily as speculative investments with questionable real-world utility, warning that excessive deregulation could leave taxpayers on the hook for cleaning up market crashes.
Law enforcement agencies see digital assets as a means to launder ill-gotten money.
The proliferation of “memecoins” — cryptocurrencies based on celebrities, internet memes, or pop culture rather than technical utility — presents another challenge.
Much of the crypto industry frowns upon this practice because they fear it tarnishes the business, amid reports of quick pump-and-dump schemes that leave unwitting buyers paying for assets that end up worthless.
Despite his previous hostility toward cryptocurrencies, Trump has embraced the technology, declaring his intention to make the United States a crypto world power.
His administration has already taken significant steps to clear regulatory hurdles.
On Sunday, Trump confirmed plans for a strategic cryptocurrency reserve where the US government would deposit digital currency holdings acquired mainly from judicial seizures.
Jacob Phillips of Lombard Finance called this potential move “one of the strongest endorsements the industry has ever seen,” noting that several founders and teams have already relocated to the United States in response to the improving regulatory climate.
Trump also appointed crypto advocate Paul Atkins to head the Securities and Exchange Commission (SEC).
Under Atkins, the SEC has dropped legal proceedings against major platforms like Coinbase and Kraken that were initiated during Biden’s term.
The previous administration had implemented restrictions on banks holding cryptocurrencies (since lifted) and allowed former SEC chairman Gary Gensler to pursue aggressive enforcement despite the absence of clear legal frameworks.
– ‘Pivotal moment’ –
Addressing ethics concerns, Sacks announced on X that he has divested from his substantial crypto holdings and investments, with industry figures quickly vouching for his integrity.
Friday’s summit “marks a pivotal moment for the digital asset industry,” according to Elitsa Taskova of Nexo, a cryptocurrency financial services platform.
However, meaningful change will likely require congressional action, where crypto legislation has remained stalled despite intense lobbying efforts by investors including Trump ally Marc Andreessen, an influential venture capitalist.
Some lawmakers remain hesitant, troubled by scandals and recurring reports of market crashes, theft and scams.
The recent $1.5 billion theft from the Bybit platform underscores the risks cryptocurrencies still present.
Nevertheless, Dante Disparte of Circle, which issues the dollar-pegged USDC stablecoin, sees growing bipartisan support for crypto legislation.
He attributed this emerging consensus to proposals that include strong transparency and anti-money laundering requirements alongside consumer and market protections.
Senator Natasha Akpoti-Uduaghan, representing Kogi Central, has declared that the injustice against her “will not be sustained” following her suspension from the Senate.
She made the statement on Thursday while reacting to the decision of the upper chamber of the National Assembly to suspend her for six months.
She said, “This injustice will not be sustained”, before being escorted out of the chambers.
ELANZANEWS reports that on February 20, Akpabio and Akpoti-Uduaghan engaged in a heated debate on the floor of the upper legislative chamber over a change in seating arrangements.
Days later, during an interview on Arise News, Akpoti-Uduaghan alleged that her troubles in the Senate began after she rejected sexual advances from Akpabio.
She submitted a sexual harassment petition against Akpabio on the floor of the upper legislative chamber on Wednesday.
However, the Senate Committee on Ethics, Privileges and Public Petitions rejected the petition, citing breaches of due process and Senate rules.
During plenary on Thursday, the Kogi lawmaker resubmitted her petition against the Senate President.
However, the Senate’s Ethics Committee recommended Akpoti-Uduaghan’s suspension for six months for engaging the Senate President in a heated debate over seating arrangements.
Israel is stepping up security measures ahead of the first Friday prayers of the Muslim fasting month of Ramadan in Jerusalem due to concerns over violence, the police said on Thursday.
Around 3,000 security forces personnel would be deployed to ensure safety at the traditional prayer on the Temple Mount.
It is known to Muslims as the Noble Sanctuary in Jerusalem’s Old City, proceeds in an orderly manner, they said.
According to media reports, the number of Muslim worshippers is to be limited to 10,000.
Temple Mount, with the Dome of the Rock and the al-Aqsa Mosque, is regarded as Islam’s third holiest site.
The remnants of the Temple on the site, known as the Western Wall, are considered the holiest site in Judaism.
The site is under Muslim administration, while Israel is responsible for its security.
In the past, there has been increased tension and violence in Jerusalem during Ramadan.
The situation was particularly tense this year due to the Gaza war and Israeli military operations, as well as settler violence in the occupied West Bank.
The Palestinian Islamist organisation Hamas has called for confrontations in the city during Ramadan.
(NAN)
Nigeria has commenced the Stakeholders’ Consultation in preparation for the 2025 Voluntary National Review (VNR) on Sustainable Development Goals (SDGs).
The regional consultation for Nigeria’s 2025 Voluntary National Review (VNR) across the six geopolitical zones was launched in the South West zone, with Lagos State hosting the session.
Held under the theme: “Advancing sustainable, inclusive, science- and evidence-based solutions for the 2030 Agenda for Sustainable Development and its Sustainable Development Goals for leaving no one behind,” the consultation brought together key stakeholders, including representatives from Ekiti, Lagos, Ogun, Ondo, Osun, and Oyo states.
This was contained in a statement issued to the media by the SA Media, OSSAP-SDG, Desmond Utomwen.
Speaking at the event, the Senior Special Assistant to the President on Sustainable Development Goals, Princess Adejoke Orelope-Adefulire, stated that the consultation aims to review Nigeria’s 2024 SDGs progress report. She highlighted key areas of focus, including institutional frameworks, progress on the 17 SDGs, lessons learned, implementation challenges, and key recommendations.
Orelope-Adefulire, who was represented by her Senior Technical Adviser, Dr Bala Yunusa, referenced the Sustainable Development Goals Report (2024), which identified a global lack of progress towards the SDGs, with only 17 percent of targets currently on track. She stressed the need for renewed commitment and transformative actions to accelerate progress towards achieving the goals.
She noted:
“To date, 366 VNRs have been conducted and presented by 191 countries, with 138 countries having conducted more than one VNR. Nigeria has previously presented two VNRs, in 2017 and 2020. This year, Nigeria will present its third VNR alongside 38 other countries.Conceptually, the VNRs are most useful when conducted through an inclusive, broad-based, and participatory process. This is why we are here—to consult widely with key stakeholders across all segments of society.”
She further explained that following the Lagos launch, consultations would be held in Uyo (South South), Enugu (South East), Gombe (North East), Kaduna (North West), and Abuja (North Central), culminating in a National Validation event in Abuja.
Orelope-Adefulire highlighted that since 2016, Nigeria’s Economic Recovery and Growth Plan (ERGP) (2017-2020), the Economic Sustainability Plan (2020), the National Poverty Reduction with Growth Strategy (2021), and the Medium-Term National Development Plan (2021-2025) have all been aligned with the SDGs. She emphasised that these goals are also embedded in President Bola Tinubu’s Renewed Hope Agenda.
In her remarks, the Special Adviser to Governor Babajide Sanwo-Olu on SDGs, Dr Oreoluwa Finnih, stated that the review is aimed at advancing collective actions to improve Nigeria’s ranking among the top performers in the global SDG framework.
She noted that Lagos State has consistently driven SDG implementation efforts, leveraging evidence-based decision-making to enhance impact.
“The Lagos State Voluntary Local Review (VLR) conducted in 2023 stands as a testament to this commitment, providing periodic assessments of our progress and significantly influencing policies and decisions under the leadership of Governor Babajide Sanwo-Olu. The state’s policies are now more aligned with international development targets, with improved resource allocation, increased inter-agency collaboration, and enhanced participatory governance achieved through the VLR exercise.”
She added that Lagos remains a beacon of subnational leadership in SDG localisation, fostering strategic partnerships and innovative solutions. She described the VNR as a crucial mechanism for SDG implementation, enabling both national and subnational governments to periodically assess progress, identify gaps, strengthen accountability, and promote scalable innovations.
Similarly, the Special Adviser to the Ogun State Governor on SDGs and Water Resources, Mrs Damilola Otubanjo, underscored the significance of the VNR in ensuring full implementation of the SDGs. She emphasised that the process must represent the interests of all Nigerians, as it highlights key challenges and outlines pathways for Nigeria’s global positioning in sustainable development.
Also speaking at the event, the Director of the Centre for Actualisation of SDGs at Lagos State University (LASU), Professor Tayo Ajayi, noted that since the United Nations launched the SDGs in 2015, Nigeria has mainstreamed them at the national level, with Lagos State playing a pivotal role.
Ajayi stated that since its establishment in 2022, the centre has organised two international conferences on SDG implementation, launched the LASU SDGs Youth Club with over 3,500 members, and is now advancing its efforts through the LASU Sustainability Policy to further institutionalize the SDGs within the university.