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WhatsApp to Challenge $220m Nigerian Fine, Warns Ruling Could Threaten Operations

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WhatsApp says it will urgently apply for a stay of execution and appeal a decision by Nigeria’s Competition and Consumer Protection Tribunal (CCPT) that upheld a $220 million fine imposed by the Federal Competition and Consumer Protection Commission (FCCPC).

The messaging platform disclosed this in a statement made available to the News Agency of Nigeria (NAN) on Saturday in Lagos, expressing its strong disagreement with the tribunal’s judgment.

The tribunal’s ruling not only reinforced the fine but also ordered WhatsApp and its parent company, Meta Platforms Incorporated, to pay an additional $35,000 to cover the FCCPC’s investigation costs into the companies’ data practices.

WhatsApp, in its reaction, said it would “urgently apply to stay the order and appeal today’s decision to avoid any impact to users,” underlining that the tribunal’s decision contained what it described as “multiple inaccuracies” and “misrepresented how WhatsApp works.”

Beyond contesting the financial penalties, WhatsApp warned that enforcing the ruling could fundamentally affect its ability to continue offering services in Nigeria and even impact its global operations. The company stressed that providing the platform without relying on Meta’s broader infrastructure would be impossible.

“It will be impossible to provide WhatsApp in Nigeria, or globally, without the infrastructure of our parent company, Meta,” it said.

The Back Story

The background to the ruling dates back to an earlier investigation by the FCCPC, which accused WhatsApp and Meta of discriminatory data practices. According to the Commission, the companies failed to treat Nigerian users with the same level of privacy, consent, and data protection accorded to users in other jurisdictions, particularly those protected under stricter regulations like the European Union’s General Data Protection Regulation (GDPR).

The regulator contended that the companies’ approach exposed Nigerian users to unfair data-sharing practices and failed to obtain adequate consent before sharing their information with third parties, including Facebook.

The tribunal, in its judgment delivered on Friday, not only upheld the FCCPC’s fine but also imposed a series of conditions aimed at restoring Nigerian users’ rights over their personal data. Among the directives, the tribunal ordered Meta and WhatsApp to immediately reinstate Nigerian users’ rights to control how their personal data is shared. They were also instructed to submit a formal compliance letter to the FCCPC by July 1, 2025, confirming that the corrective measures had been fully implemented.

Additionally, Meta and WhatsApp are required to update their applications to allow Nigerian users to exercise full control over each data point collected from them. They must submit their proposed new data policies to both the FCCPC and the Nigeria Data Protection Commission (NDPC) within 10 days of the ruling. The companies are expected to make these policy documents public to ensure transparency.

Another critical part of the order mandates Meta to immediately cease the sharing of Nigerian users’ data with Facebook and other third parties. Meta is also required to revert to its 2016 data-sharing policy — before the controversial integration of WhatsApp data into Facebook’s broader advertising and profiling systems — ensuring that users’ consent is explicitly sought and obtained before any data is tied across platforms. Compliance with these demands must be demonstrated with verifiable evidence.

In addition to directing Meta to reimburse the FCCPC with $35,000 as the cost of its investigative work, the tribunal mandated that the $220 million penalty must be paid no later than 60 days from April 30, 2025.

The tribunal’s ruling marks one of the most consequential regulatory actions taken against a global technology company in Nigeria’s history. It also signals a more assertive regulatory environment where Nigerian authorities are increasingly willing to impose hefty penalties on multinational tech giants that fall short of protecting local consumer rights.

However, business leaders note that the decision carries broader risks for WhatsApp and Meta. Nigeria, with its population exceeding 220 million, remains a critical growth market in Africa, and the case could set a powerful precedent for how multinational tech companies manage data governance, privacy, and user consent across the continent. Should WhatsApp’s appeal fail, experts warn that it could trigger a ripple effect, encouraging other African regulators to adopt similarly aggressive stances in enforcing local data protection laws.

Meanwhile, Nigerian officials have praised the tribunal’s decision as a step toward affirming the country’s sovereignty in regulating the digital economy. For them, the case highlights a long-standing demand that foreign digital platforms must respect the rights of Nigerian users on equal terms with users elsewhere.

Dogecoin’s (DOGE) $0.40 Target in Sight, But a Wilder 17067% Run from This Crypto Could Make Holders Wealthier

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Dogecoin (DOGE) has gained strong momentum in 2025, with analysts predicting it could reach $0.40 in the coming months. Market watchers have also noted that a new cryptocurrency, Rexas Finance (RXS), could experience a surge of up to 17,067%, making it a potential high-return asset for investors. With the increasing adoption of blockchain technology and real-world asset (RWA) tokenization, investors are closely monitoring these two cryptocurrencies as the market prepares for its next bullish phase.

Dogecoin’s Price Outlook and Market Activity

Dogecoin continues rising steadily as investors display strong interest and more users integrate it into their operations. EWT analysts together with other experts found a bullish formation in DOGE’s price data that could direct the asset toward $0.40. Recent trading activity suggests that DOGE remains a popular asset among retail investors, particularly as major financial platforms continue to explore its use for payments.

Technical analysis shows Dogecoin follows a 1-to-2 subwave pattern that would facilitate its rise toward $6 value in the future.However, before reaching this level, DOGE may experience corrections, with analysts predicting a possible drop to $1.20 before another upward move. Some forecasts suggest that if DOGE breaks key resistance levels, it could surpass its previous highs, potentially reaching $20 or more.

Rexas Finance (RXS) Sees High Demand in Its Presale


Real-world asset tokenization through Rexas Finance generates investor attention because users may acquire fractional parts of valuable assets including real estate properties and commodities together with intellectual property assets. The token presale of Rexas Finance reached a total of $47.6 million before reaching its completion phase after selling more than 91% of the available tokens.

Strong market belief has elevated RXS from its initial value of $0.03 to $0.20. Experts expect the RXS token to reach values between $10 and $15 during the period from 2025 to 2026. Some market projections suggest that RXS could surge by up to 17,067%, making it a high-growth opportunity for early investors.RXS will start its public trading on June 19, 2025 at a starting price of $0.25 after finalizing the current presale period.

Institutional Interest and Exchange Listings Boost RXS Growth

The blockchain documents indicate institutional investors are purchasing RXS in substantial amounts because of their high net worth financial status. Rexas Finance holds a dominant position in the RWA tokenization industry because of rising market demand that will grow beyond $16 trillion worldwide. The upcoming exchange listings will provide additional liquidity and accessibility for RXS. At least three major global exchanges will introduce the project creating future opportunities for increased market demand. Investors demonstrate a positive reaction to RXS security protocols by conducting a successful CertiK audit which boosts platform reliability.

Conclusion

Market traders consistently monitor Dogecoin’s price movement since they expect an ongoing upward climb based on its current momentum. The near-future value targeting $0.40 for DOGE depends on market-wide circumstances and general community adoption levels. The asset positioning of RXS shows promise of future growth because the tokens have proven successful during presales and the project utilizes innovative tokenization methods. RXS has the potential for exponential market growth which establishes it as a critical force in the upcoming cryptocurrency stage.

 

Website: https://rexas.com

Whitepaper: https://rexas.com/rexas-whitepaper.pdf

Twitter/X: https://x.com/rexasfinance

Telegram: https://t.me/rexasfinance

SOL Strategies Secured $500M Convertible Note to Finance Staked Solana Buys

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SOL Strategies, a Canadian investment firm focused on the Solana blockchain, has secured a $500 million convertible note facility from ATW Partners to acquire and stake SOL tokens, marking the largest financing of its kind in the Solana ecosystem. The capital will be used exclusively to purchase SOL tokens, which will be staked on validators operated by SOL Strategies, with staking yields (up to 85%) covering interest payments.

The deal includes an initial $20 million tranche, with up to $480 million available in future drawdowns, and aims to enhance network security and decentralization while positioning SOL Strategies as a leading institutional staking platform. The firm’s shares surged 25.3% following the announcement, reflecting market optimism. This move follows similar strategies by firms like Upexi and DeFi Development Corp, signaling growing institutional interest in Solana.

The $500M convertible note financing by SOL Strategies to acquire and stake Solana (SOL) tokens carries significant implications for the Solana ecosystem, institutional crypto adoption, and broader market dynamics. By staking large amounts of SOL, SOL Strategies enhances network security and decentralization, as more tokens are locked to support validator operations. This could improve Solana’s resilience and appeal as a high-performance blockchain for DeFi, NFTs, and Web3 applications.

The deal signals growing institutional confidence in Solana, positioning it as a preferred blockchain for large-scale investment. This could attract more institutional players, driving further capital inflows and development on the network. Increased demand from SOL Strategies’ purchases could exert upward pressure on SOL’s price, especially if supply tightens due to staking. However, large-scale liquidations or note conversions could introduce volatility if not managed carefully.

Using staking yields (up to 85%) to cover interest payments demonstrates a sustainable model for institutional staking. This could set a precedent for other firms, potentially increasing competition for validator rewards and influencing staking economics. The use of convertible notes aligns investor and issuer interests, offering ATW Partners exposure to SOL Strategies’ equity upside. This structure could become a blueprint for crypto-focused financings, blending traditional finance with blockchain economics.

SOL Strategies’ move positions it as a dominant player in Solana’s staking ecosystem, potentially challenging smaller validators or staking pools. It may also spur similar strategies on other blockchains, intensifying competition among layer-1 protocols. Large-scale institutional involvement in crypto staking could draw regulatory attention, particularly around securities classification of staked assets or convertible notes. This may impact how similar deals are structured in the future.

The 25.3% surge in SOL Strategies’ shares reflects market enthusiasm, potentially encouraging other public companies to explore crypto-native strategies. This could bridge traditional and decentralized finance, accelerating mainstream adoption. Overall, this financing reinforces Solana’s institutional appeal, strengthens its network, and sets a precedent for innovative crypto investment structures, though it also introduces risks of market volatility and regulatory challenges.

SOL Strategies has significantly bolstered investor confidence in the Solana blockchain through its strategic focus on validator operations, substantial SOL staking, and a clear commitment to the Solana ecosystem. By rebranding from Cypherpunk Holdings to SOL Strategies in September 2024, the company shifted its investment strategy to prioritize Solana, operating validator nodes and staking large amounts of SOL to support network security and transaction validation. As of December 2024, SOL Strategies staked 948,242.86 SOL, valued at approximately CAD $307.8 million, and has generated significant staking revenue, with 1,430 SOL (around $242,000) earned since June 2024.

The company’s stock (ticker: HODL) surged 3,807% since the rebrand, reflecting strong market enthusiasm, with trading volumes averaging 470,000 shares daily and a market cap reaching CAD 144 million by October 2024. A CAD $25 million credit facility from Chairman Antanas Guoga, announced in January 2025, further signaled insider confidence, enabling large-scale SOL purchases for staking and acquisitions. Strategic moves, such as acquiring seven validators from Cogent Crypto and Orangefin Ventures, have enhanced SOL Strategies’ infrastructure, positioning it as a leading validator on Solana.

These efforts align with Solana’s growing ecosystem, which boasts over $10 billion in Total Value Locked (TVL) in DeFi protocols and supports high-speed, low-cost transactions. By providing a regulated investment vehicle for institutional and retail investors to gain Solana exposure without managing crypto assets directly, SOL Strategies mirrors MicroStrategy’s Bitcoin strategy, enhancing trust in Solana’s long-term potential.

However, risks remain, including Solana’s historical network outages and market volatility, which could impact validator revenue and SOL’s price. Investors should conduct independent research, as forward-looking statements carry uncertainty.

Launch of Twenty One Capital by Jack Mallers Carries Significant Implications For Bitcoin Ecosystem

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Jack Mallers, the CEO of Strike, has launched Twenty One Capital, Inc., a Bitcoin-native company focused on acquiring and holding Bitcoin, with an initial treasury of over 42,000 BTC, valued at approximately $3.6 billion based on a Bitcoin spot price of $84,863.57 as of April 21, 2025. The company is backed by major players like Tether, SoftBank Group, and Bitfinex, and is set to go public via a SPAC merger with Cantor Equity Partners, trading under the ticker $XXI on Nasdaq.

Twenty One aims to maximize Bitcoin ownership per share, offering investors direct exposure to Bitcoin through a public company structure, and plans to develop Bitcoin-native financial products, such as lending and capital market instruments. Mallers, who will continue his role at Strike, positions Twenty One as a vehicle to accelerate Bitcoin adoption, comparing its strategy to MicroStrategy but claiming greater flexibility for capital raises. The venture has raised $585 million through convertible notes and equity financing to support further Bitcoin purchases and operations.

The acquisition of 42,000 BTC reduces Bitcoin’s circulating supply, which could exert upward pressure on prices, especially given Bitcoin’s fixed supply cap of 21 million coins. This aligns with the narrative of Bitcoin as “digital gold” with scarcity-driven value. Twenty One’s plans for further Bitcoin purchases, supported by $585M in financing, could amplify this effect, potentially contributing to price volatility or sustained bullish trends if demand remains strong.

Twenty One’s focus on developing Bitcoin-native financial products (e.g., lending, capital market instruments) could bridge traditional finance and crypto, creating new use cases for Bitcoin beyond speculation or holding. This might attract more sophisticated investors and integrate Bitcoin deeper into global financial systems. By leveraging Bitcoin as collateral or a base asset, Twenty One could pioneer scalable DeFi-like solutions within a regulated framework, potentially challenging existing crypto lending platforms.

Positioning itself as a more flexible alternative to MicroStrategy, Twenty One could spark competition among Bitcoin-focused public companies, driving innovation but also raising risks of over-leveraging or speculative bubbles if valuations disconnect from fundamentals. The involvement of Tether raises questions about stablecoin-backed Bitcoin accumulation strategies, which could invite regulatory scrutiny given Tether’s controversial history.

As a publicly traded entity, Twenty One will face stricter regulatory oversight, which could set precedents for how Bitcoin-centric companies navigate compliance, custody, and reporting. This might legitimize Bitcoin in the eyes of regulators but also expose the company to legal risks if crypto regulations tighten. The SPAC structure and reliance on convertible notes carry financial risks, especially in volatile markets. If Bitcoin’s price crashes, Twenty One’s valuation and investor confidence could suffer, impacting its ability to raise capital.

Mallers’ vision to accelerate Bitcoin adoption through Twenty One could amplify Strike’s efforts in payments and remittances, reinforcing Bitcoin’s utility. Success here might inspire similar ventures, further embedding Bitcoin in everyday finance. However, the focus on Bitcoin exclusivity might sideline other cryptocurrencies, reinforcing Bitcoin maximalism at the expense of broader blockchain innovation.

Twenty One’s launch reflects a maturing crypto market where Bitcoin is increasingly viewed as a strategic asset rather than a speculative gamble. This could shift public perception, especially among traditional investors. Mallers’ dual role at Strike and Twenty One positions him as a key figure in Bitcoin’s narrative, potentially influencing market sentiment and policy debates around cryptocurrency.

Twenty One Capital could catalyze Bitcoin’s mainstream integration, drive price dynamics, and innovate financial products, but it also faces risks from market volatility, regulatory challenges, and competitive pressures. Its success will hinge on execution, Bitcoin’s long-term performance, and the broader evolution of crypto markets.