TronWeekly

Crypto World News

You are here: Home / Archives for Ebo Victor

Ebo Victor

Nigeria Extends Binance Tax Case in High-Stakes Legal Clash

by

  • A Nigerian court has postponed Binance’s $2 billion tax evasion case to April 30 as the crypto exchange contests the legality of document service.
  • Nigeria claims Binance’s P2P trading harmed the economy and facilitated capital flight, demanding $2 billion in taxes and $79.5 billion in damages.
  • Two Binance executives were detained, with one escaping custody and another alleging detention linked to a rejected $150 million bribe.

Nigeria has once more escaped a public court face-off with the Binance global cryptocurrency exchange, postponing the tax evasion issue until after April 30. The wait, as noted in a recent report by Reuters, is due to a delay stemming from a Binance lawsuit in regards to a prior court ruling allowing the Federal Inland Revenue Service (FIRS) to serve court documents through email.

A representative from Binance argues that the FIRS did not have jurisdiction over the tax evasion issue, stating that, “Without an office in Nigeria, legal documents cannot be served in Nigeria.” As a company incorporated in the Cayman Islands, Binance asserts that legally speaking, the documents serve borders and should qualify under international law pertaining to offshore registration.

The case also forms part of a Nigeria-wide political and communistic auction of power-driving efforts to control cryptocurrency trading in Nigeria, a country that once ranked among the highest in global crypto adoption.

Nigeria Extends Binance Tax Case in High-Stakes Legal Clash
Nigeria Extends Binance Tax Case in High-Stakes Legal Clash 2

Binance Executives Caught in Legal Crossfire

The tax case now has a dramatic twist due to the involvement of two executives from Binance, Tigran Gambaryan and Nadeem Anjarwalla. A U.S. citizen, Gambaryan was held in Nigeria from 2024 until his release in October after the country’s anti-corruption agency dropped trumped-up charges. He later claimed that his detention was supposedly due to Binance refusing to pay a bribe of 150 million dollars, something Nigerian officials have publicly denied.

Anjarwalla, a British-Kenyan dual national, was also detained but was able to evade arrest while under house arrest. He left the country using a second passport, which further heightened the already tense relationship between Binance and Nigerian authorities.

With the date of the court hearing coming up, there’s a massive focus on whether Nigeria’s attempt to implement tax compliance on crypto platforms will succeed or whether Binance’s legal challenges will draw the line. Either way, the decision could, in fact, be global first in setting crypto regulations for the continent.

XRP Faces Critical Test at $2.14: Bullish Breakout or Bearish Trap?

by

  • XRP Shows Strength After Dip. Despite falling to $1.61 earlier in the week, XRP bounced back to $1.88
  • For XRP to continue rising, it must break key resistance levels at $2 and especially $2.14 (the 20-day EMA), which could open the path to $3.
  • Some analysts predict a drop to $1.30 due to a bearish chart pattern, while others believe strong support at $1.88 could keep XRP stable.

Crypto analysts are raising concerns as XRP continues to rise in price. While the recent surge is exciting for investors, some experts warn that the price could quickly fall again and XRP would hit $1.30.

Consequently, traders are now watching closely to see if the momentum can continue or if a pullback is coming.

XRP’s Mood Swings Stir Debate Among Analysts

This week, XRP’s price has been quite unpredictable, making traders and analysts closely study charts and signals to figure out what might happen next. At first, the coin dropped sharply to $1.61 on Tuesday during a general market dip, which worried many investors. However, according to CoinMarketCap, XRP bounced back, showing strength by climbing to around $1.88.

XRP 1D graph coinmarketcap 9
XRP Faces Critical Test at $2.14: Bullish Breakout or Bearish Trap? 6

Despite the recovery, Ripple still has some tough challenges ahead. To keep moving upward, it must break past the key $2 resistance level, which is a price point where many sellers might step in. Even more important, analysts say the coin must also break above the 20-day Exponential Moving Average (EMA), which is around $2.14 right now.

If Ripple can move above that level with strong trading volume, it could spark a rally toward $3, a target that’s been talked about often in the crypto community.

At the moment, experts have mixed opinions. One analyst, Ali Charts, warned that Ripple might be forming a bearish head-and-shoulders pattern, which could mean a possible drop to $1.30 before it climbs again.

image 75 1
XRP Faces Critical Test at $2.14: Bullish Breakout or Bearish Trap? 7

On the other hand, analyst Dark Defender is more optimistic. He pointed out that Ripple is still holding above the $1.8815 support level, and as long as that level stays strong, there’s no immediate sign of a crash.

image 75 2
XRP Faces Critical Test at $2.14: Bullish Breakout or Bearish Trap? 8

In short, Ripple’s next move could go either way, and traders are watching closely to see if it can break resistance and rally or if a dip is coming first.

David Sacks Hails Meta’s Llama 4 as America’s Secret Weapon in AI

by

  • Meta’s Llama 4 AI models aim to put the U.S. back on top in the AI race, according to advisor David Sacks.
  • Llama 4 Scout and Maverick outperform global competitors using a unique Mixture of Experts design and multimodal capabilities.
  • Open-source innovation is now America’s counter to rising Chinese AI power, with Meta’s AI models integrated into WhatsApp and Instagram.

Meta’s newest Open Source AI models, Llama 4 Scout and Llama 4 Maverick, have created a buzz in the tech industry. David Sacks—a US venture capitalist and AI advisor—expressed his excitement regarding these models over the weekend on X, describing the products as a ‘victory for America’ in the global AI competition. “For the U.S. to win the AI race, we have to win in open source too, and Llama 4 puts us back in the lead,” he wrote.  

Meta’s Llama 4 Models Set New AI Benchmark  

Meta claims that Llama 4 Scout and Maverick are their most advanced models, releasing them on the 6th of April. These multifunctional models are already integrated into popular applications such as WhatsApp and Instagram, transforming the accessibility of advanced AI.

At the core of Llama 4’s innovation is multimodal AI, which works with text, images, audio, and videos simultaneously. Both models also utilize the Mixture of Experts (MoE) architecture: a system in which specialized AI units, referred to as “experts,” collaboratively work together. Llama 4 Scout comes with 17 billion active parameters alongside 16 experts; Maverick, however, expands that to 128 experts, enhancing reasoning and coding capabilities.

Meta states that Llama 4 Scout outperforms Gemma 3, Gemini 2.0 Flash-Lite, and Mistral 3.1, while Maverick competes with DeepSeek v3 from China in outstanding performance, despite using much fewer parameters. This release comes during savage competition globally, most notably with China’s DeepSeek, which burst onto the AI scene in late 2024 with its astonishingly effective model trained for only $6 million compared to OpenAI’s $100 million ChatGPT-4. 

David Sacks Hails Meta’s Llama 4 as America’s Secret Weapon in AI

DeepSeek’s success sent shockwaves through the U.S. markets and spurred a fresh sense of urgency, as U.S. tech giants scramble to reclaim dominance. Sacks describing Llama 4 as America’s “secret weapon” underlines the notion touted that open-source AI might actually be the way to get ahead of other challengers in the world.   

Meta further announced that Llama 4 Behemoth is “one of the most intelligent large language models ever conceived”— which may solidify the U.S. win the race on the next level of AI development — is currently in training.

Conor McGregor Memecoin Crashes as Fundraising Flops and Refunds Roll Out

by

  • Conor McGregor crypto token raised only $392,315, just 39% of its $1 million goal, causing the launch to be canceled.
  • All bidders were fully refunded through USDC on Ethereum after the presale ended.
  • The team behind the token, RWG, cited tough market conditions and plans to relaunch the project after recalibrating.

Conor McGregor’s latest foray into the crypto world has taken a major fallback. His memecoin, which launched with big promises and massive hype, has crashed just days after its fundraising campaign failed to reach expectations.

The REAL token only raised $392,000, which was far below its $1 million goal; causing all the money to be automatically refunded. The team says they plan to try again with a new launch.

Conor McGregor Memecoin Begins Refunds 

The token, which was supposed to ride the wave of celebrity-backed crypto success, didn’t attract enough buyers. After the presale ended, RWG posted on X (formerly Twitter) that it didn’t meet its fundraising target and confirmed that all bids would be fully refunded. Conor McGregor also shared the update with his fans, writing, Ladies and gentlemen, this is REAL!”

The REAL token, created by Real World Gaming DAO (RWG), brought in just $392,315 in USDC from 668 bidders, which is far below the required $1,008,000 needed to move forward with the launch.

Blockchain data shows that all refunds were completed shortly after, with a batch transaction sent from the rwg.eth wallet around 3:53 PM Eastern Time. The refunds were processed using USDC on the Ethereum network.

Furthermore, the challenging market conditions and the distraction of the meme narrative are considered to have played a role in the failed launch. 

Conor McGregor’s Memecoin Crashes as Fundraising Flops and Refunds Roll Out

RWG used a sealed-bid auction system through Axis Finance to launch the REAL token. This allowed people to place private bids at their prices, aiming to make the process fair and transparent. The system was designed to give everyone an equal chance and reduce price swings after launch.

After the auction ended, bids were sorted, and tokens were meant to go to the highest offers. But since the project didn’t raise enough money, the system couldn’t set a final price, and the launch failed.

The team has now decided to pause and adjust their strategy, but they do plan to try again soon. For now, though, the project is on hold as the team prepares for a potential relaunch.

Traders Bet Big as XRP Open Interest Blasts Through $3 Billion Barrier

by

  • XRP’s open interest soared to $3.61 billion, signaling renewed trader confidence and a potential bullish breakout for the altcoin.
  • Analysts predict XRP could reach $2.60 to $17.50, depending on key resistance levels and chart patterns like the Ascending Broadening Wedge.
  • Despite the optimism, risks remain high, with a possible 70% downside that could see Ripple crash to $0.65 if support fails.

XRP’s open interest has surpassed the $3 billion mark within 24 hours, bringing new attention to Ripple’s native cryptocurrency XRP. Per CoinGlass data, Ripple open interest reached $3.61 billion, indicating that traders are highly bullish on the altcoin’s price movement. 

XRP’s surge in open interest, a measuring metric used to determine the value of outstanding futures contracts, is on the rise, indicating optimism in the market, in which XRP seems set to breakout.

Traders Bet Big as XRP Open Interest Blasts Through $3 Billion Barrier
Traders Bet Big as XRP Open Interest Blasts Through $3 Billion Barrier 14

XRP Bullish Signals Amid Explosive Open Interest Growth

Crypto analysts have jumped in to comment on Ripple’s bullish momentum. Market analyst Ali Martinez stated that XRP is likely to move to $2.60 if it manages to hold the crucial support level at $2.00, which means a 30% increase.

image 54 1
Traders Bet Big as XRP Open Interest Blasts Through $3 Billion Barrier 15

Moreover, crypto analyst Egrag Crypto suggested a wide angle, arguing XRP could rally to $17.50, but only if it closes above $3.50 and retests $1.90 first.

image 54
Traders Bet Big as XRP Open Interest Blasts Through $3 Billion Barrier 16

Per Egrag’s analysis, an ascending broadening wedge pattern looks to be forming, which could signal a bullish breakout soon. This aligns with the potential July 21 cycle peak, leading to higher prices. He did, however, caution that a downside move is still very likely, even predicting a fall to $0.65 in the absence of bullish sentiment, which Egrag suggests has a less than 30% probability. 

With such conflicting predictions, it remains clear that traders are placing aggressive bets on Ripple and expecting significant volatility. The surge in open interest indicates that all attention is focused on Ripple’s asset as it nears a critical inflection point.

Panic Hits HYPE as Price Tanks and Hyperliquid Liquidity Dries Up

by

  • HYPE price fell to $11.28, dropping 10.68% in 7 days and a whopping 67% from its record high of $35.20, amid increasing bearish market pressure.
  • Hyperliquid is facing liquidity problems, making it hard for traders to execute orders without significant price shifts.
  •  Despite small signs of recovery, 69% of traders expect further price declines, and the market remains largely bearish with low confidence in a price rebound.

The crypto space is on edge as the price of HYPE has suddenly dropped. Concurrently, the liquidity on Hyperliquid, the primary marketplace for trading HYPE, is almost zero. Traders are now under significant strain as both purchasing and selling in any capacity lead to steep price fluctuations due to lack of liquidity.

This has not been easy for Hyperliquid. The marketplace has had operational issues, and many users have flagged much more than sluggish trades and outages. Prolonged platform trust has been eroded and is now impacting tokens traded there, including HYPE.

HYPE Price Drops as Hyperliquid Struggles

Market observations from coinmarketcap indicate that Hyperliquid faced another challenging week, forcing its tokens to respond. HYPE price fell to $11.28 at the time of writing, a decline of 3.04 % in the last day and 10.68 % over a week. Moreover, it has dropped 67% from its all-time high of $35.20. Its market cap has fallen sharply from $10B in December to $3.8B.

Panic Hits HYPE as Price Tanks and Hyperliquid Liquidity Dries Up
Panic Hits HYPE as Price Tanks and Hyperliquid Liquidity Dries Up 18

In the early hours of April 6, the price seemed to try and step upward, going over $12.00 but losing steam almost immediately. As we can see in the daily chart, the price seems to have a slight uptick in the short term but ultimately translates to a downtrend, which reflects low confidence in the market. 

For HYPE, the last week started at around $12.63, and although there was a slight dip on April 3, it fell to nearly $11.50 on the morning of April 6. This displays increasing pressure on the downside and indicates that buyers are weakening. 

Even with an optimistic short-term forecast at smaller timeframes, the overwhelming sentiment is more negative than positive, as 69% of traders suspect further decline versus 31% who believe otherwise. 

HYPE is still trading above its all-time lows, but as it stands, the price could dip lower if the prevailing trend continues. Sadly, HYPE and Hyperliquid are in a delicate state, and traders are anxiously waiting to see which way the tide will turn.

Outlook for HYPE resuming upward trajectory is scant. There is potential for a short squeeze on HYPE due to its bullish structure on the hourly chart. But despite that, momentum is still on the bearish side, meaning the overall feeling in the market is still negative.

Buyers Return to NFT While Spending Power Fades

by

  • NFT buyers jumped by 24% in the past week, even as total sales volume fell nearly 8% to around $99.9 million.
  • Ethereum NFTs saw a 21% sales drop, while Solana and Mythos posted modest gains, defying the overall trend.
  • Top collections like Courtyard and DMarket led sales, while others like CryptoPunks saw sharp declines in market performance.

Renewed interest in the NFT markets has emerged even as the overall purchasing power weakens. Recent data provided by CryptoSlam indicates that buyers in the non-fungible token sphere grew by more than 24% over the past week. Even with this increase in participation, the total volume of sales for non-fungible tokens declined by almost 8% as it settled at around $99.9 million.

This pattern of lowered sales and increased buyers shows that there is interest from newly interested participants or from previously active collectors, but with carefully controlled expenditures.

More Buyers Join NFT Space While Total Sales Volume Declines

NFT buyers and sellers increased over the last week, signifying growing interest in the market. In the last week, the number of buyers reached 560,845, marking an increase of 24.38%, and the number of sellers reached 327,295, marking a 15.66% increase. Yet these numbers come with a caveat: the overall number of transactions experienced a decline of 9.12%, to roughly 1.44 million, indicating that there is less spending per transaction.

Ethereum was also reported to have a 21% decline in sales with earnings slowly trickling to $25 million until other competitors catch up. Polygon follows with $16.9 million in volume, which is also a 6% decrease from the previous week. Bitcoin NFTs also suffered a 12% decline, landing at $16 million.

Buyers Return to NFTs While Spending Power Fades
Buyers Return to NFT While Spending Power Fades 20

Nonetheless, some chains went against the trend. While Solana Chain gained $1 million and Mythos Chain $2 million, Solana’s value reached $9.9 million while Mythos hit $13.8 million, resulting in a 16% and 1% gain, respectively. 

Top NFT Collections: Winners and Losers

Some collections stood out despite the general market pullback. Polygon’s Courtyard came in first with $15 million in sales, followed in order by DMarket at $8.6 million and bitcoin’s Taproot Wizards with $3.9 million. 

Not all were as lucky, however. Longstanding market favorites speedily dropped in rank, and CryptoPunks and Guild of Guardians Heroes fell 44% and 48%, respectively, demonstrating the volatility of blue-chip NFT collections. 

The sudden increase in buyer activity across several collections incentivizes hope, especially after the skeptic NFT drought in March. After all, those with buyer incentive had prior suspicion regarding the future of NFTs. The new challenge lies in having that suspicion transformed into a valuable, long-term commitment.

Robert Kiyosaki Drops Bombshell Bitcoin Insight in Market Turmoil

by

  • Robert Kiyosaki warns that the market crash has arrived, confirming his earlier prediction of a massive financial collapse with a recession.
  • Kiyosaki advises shifting away from Wall Street investments like stocks and bonds and instead focusing on real assets like gold, silver, and Bitcoin to protect wealth.
  • He highlights that the dollar is losing value, causing inflation, and urges people to prepare for rising costs by investing in assets that can’t be printed by governments, such as Bitcoin and precious metals.

As Wall Street reels from one of the biggest market crashes in recent history, Rich Dad Poor Dad author Robert Kiyosaki has stepped forward with a bold message: “I told you so.”

In a candid and urgent statement, Kiyosaki pointed to a prediction he made in his book Rich Dad’s Prophecy — warning of a massive stock market crash that would hit millions of investors, particularly Baby Boomers. That moment, he says, has now arrived.

Robert Kiyosaki Weighs in on the Bitcoin and Real Assets Case

For years, Kiyosaki has urged people to look beyond Wall Street and focus on real, tangible assets. Recently on X, he doubled down on that message , recommending gold, silver, and Bitcoin as safer stores of value.

“After this paper market crash wipes out millions of fake paper assets… the Fed and Treasury will likely turn the printing presses on full speed,” he warned, predicting a flood of newly printed dollars and rising inflation.

Like a fulfilling prophecy, early April came with a crash in Wall Street’s stock market prices, with the S&P 500 losing $5.4 trillion in just two days. The Magnificent 7, the seven biggest tech stocks (like Apple, Microsoft, and Amazon), dropped 29% from their highest point, reaching their lowest level since a big market collapse in 2022.

Robert Kiyosaki Drops Bombshell Bitcoin Insight in Market Turmoil

As traditional markets tremble, Kiyosaki’s message is clear: look to assets the government can’t print and protect yourself from what he believes is a long-overdue financial reckoning. According to Kiyosaki, it’s not that gold, silver, or Bitcoin are rising in value — it’s that the dollar is losing value, making everything else more expensive, including food, housing, and energy.

He emphasized that Baby Boomers who are nearing or in retirement  are especially vulnerable, noting that they “are out of time” to invest long-term in traditional assets like stocks, bonds, and ETFs.

Wall Street Single-Day Crash Dwarfs Entire Crypto Market

by

  • The Nasdaq 100 dropped 6%, marking its largest fall since March 2020, pushing U.S. stocks into bear market territory.
  •  The U.S. stock market has erased over $11 trillion in value since February 19, 2025.
  • Retail investors bought $4.7 billion in stocks after the crash, marking the highest net buying in 10 years, while hedge funds sold stocks at the highest rate since 2010.

On April 4, 2025, the U.S. stock market took a massive hit, losing over $11 trillion in value, which is worth more than the entire crypto market. The Nasdaq 100 dropped 6% in a single day, its biggest fall since March 2020. 

This sharp decline pushed the U.S. stock market into what’s known as a “bear market,” where prices fall 20% or more from recent highs. Experts now say there’s a more than 60% chance the U.S. could be heading into a recession.

Trump’s Historic Tariffs Fuel Crypto Market Turmoil

The sell-off began the day before, on April 2, after President Donald Trump announced a new round of “reciprocal tariffs,” which has pushed the overall U.S. tariff rate above 25%—higher than it’s been since the early 1900s.

If these tariffs stick around, many economists believe a recession is almost certain. Consequently, China responded quickly, hitting back with 34% tariffs on U.S. products. On top of that, Federal Reserve Chair Jerome Powell said he’s “not in a hurry” to cut interest rates, offering little comfort to already-shaken markets.

By the end of April 2, market analysts were already warning of a deeper drop and suggested shorting (betting against) the S&P 500. Since then, the index has fallen by 600 points.

Interestingly, everyday investors — known as retail traders — jumped into the dip and bought $4.7 billion worth of stocks on Thursday, the biggest buying spree by retail in 10 years. At the same time, hedge funds (large investment firms) were busy selling off stocks at the highest pace since 2010. 

Wall Street’s Single-Day Crash Dwarfs Entire Crypto Market

Major stock indexes like the Nasdaq 100, Russell 2000, Nikkei 225, and the Magnificent 7 have all entered bear market territory. The Magnificent 7 are now down 29% from their peak, marking their lowest level since last August.

The S&P 500 also dropped more than 10% in just two days, something that’s only happened 7 times in history. The last time we saw drops like this was during the financial crises of 2020, 2008, and 1997.

On the flip side, while stocks were crashing, Bitcoin and other crypto tokens held up surprisingly well. Bitcoin actually rose by nearly 1% that day.

Greed and Deceit Land South Korean in Prison After $2M Crypto Scam

by

  • The 2nd Criminal Division of the Changwon District Court in Gyeongnam Province sentenced a man to 3 years in prison for fraud.
  • The crypto scam involved embezzling approximately 2.93 billion won (around $2.04 million).
  • Court cited the use of a “round-robin” scheme and noted that only partial restitution was made, justifying the custodial sentence.

The war on crypto investors continues as few individuals were recently caught in a crypto scam web. A man in his 30s from South Korea has been convicted for 3 years by the 2nd Criminal Division of the Changwon District Court in Gyeongnam Province for defrauding a cryptocurrency investor out of 2.93 billion won, roughly equivalent to $2.04 million.

Convicted Fraudster Lures Crypto Victim With Promising High Returns

According to the latest report shared by Kookje, the 30-year-old South Korean referred to as “Mr. A” was brought to trial by the victim referred to as “Mr. B” on the allegations of fraud. Mr. A and Mr. B are said to have met in an open chatroom, where Mr. A pretended to be a wealthy investor. He lured the victim by promising an annual return of 30–50% along with the repayment of the principal. 

During the court hearing, Mr. A is said to have collected 2.93 billion won, numbering up to 324 transactions dating back to December 21, 2021. Additional transfers of 5 million won from Mr. B were recorded between December and August 19, 2023. 

Greed and Deceit Land South Korean in Prison After 2M Crypto Sc

However, in reality, Mr. A did not possess any assets or employment and was already suffering a loss worth millions of won from his previous crypto investments. 

Mr. A was found to have built trust with Mr. B by repaying part of the funds he had received under the guise of interest, thereby encouraging a broader fraudulent scheme.

The ruling judge who presided over the case, Judge Kim Seong-hwan, noted that although the defendant returned a portion of the stolen amount, this did not make up for the full restitution due to the deceptive “round-robin” structure of the fraud. 

The court also considered that the actual financial gain was remarkably lower than the total nominal amount listed in the indictment when determining the sentence.