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Waymo Expands Robotaxi Service to Washington, D.C., Further Leaving Tesla Behind in the Robotaxi Race

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Alphabet-owned Waymo is accelerating its dominance in the self-driving taxi market with a newly announced expansion into Washington, D.C., set for 2026.

The move solidifies Waymo’s position as the leader in the autonomous ride-hailing industry while further exposing Tesla’s lagging progress in the robotaxi space.

Waymo made the announcement on Tuesday, stating that it has officially begun the process of launching its commercial robotaxi service in the U.S. capital. The company, which has been steadily expanding its presence in major cities, said its rollout in Washington will involve test drives conducted by human operators to gather data on the city’s roadways. These initial tests will be followed by full-fledged autonomous rides once regulatory approvals are in place.

“We’ll continue introducing ourselves to D.C.’s communities and emergency responders over the coming months,” the company said in the release. “We’ll also continue to work closely with policymakers to formalize the regulations needed to operate without a human behind the wheel in the District.”

The expansion follows Waymo’s growing footprint in key markets. The company’s Waymo One ride-hailing app is already available in San Francisco, Los Angeles, Phoenix, and Silicon Valley. Recently, it extended services across a 27-square-mile area in California, covering Mountain View, Palo Alto, Los Altos, and parts of Sunnyvale.

Beyond Washington, D.C., Waymo also plans to enter Miami in 2026 through a partnership with the startup Moove.io.

While Waymo’s dominance continues to grow, Tesla has struggled to keep up. Just a few years ago, Tesla was seen as the frontrunner in the race to bring autonomous ride-hailing to the masses.

Elon Musk had long promised a fleet of self-driving robotaxis, even claiming in 2019 that Tesla would have one million of them on the roads by 2020. However, the reality has been far different. Despite repeated assurances, Tesla has yet to manufacture a dedicated robotaxi or launch a fully autonomous ride-hailing service. Its Full Self-Driving (FSD) software remains in beta mode and still requires human supervision, preventing Tesla from competing directly with companies like Waymo that have already deployed driverless services.

In contrast, Waymo has surged ahead, completing over 4 million paid autonomous rides in 2024 alone—far more than any other self-driving company. Unlike Tesla, which relies on camera-based vision for its self-driving technology, Waymo has leveraged a combination of LiDAR, radar, and AI-powered software to create a highly sophisticated system that has been widely regarded as the most advanced in the industry.

“I’ve experienced firsthand how safely the Waymo Driver operates around pedestrians, cyclists, and other vulnerable road users,” said Jonathan Adkins, CEO of the Governors Highway Safety Association. “Waymo has worked with GHSA and our first responder network as they’ve expanded their service, always putting safety first. As someone who walks to work almost every day, I’m excited to share the road with Waymo in Washington, D.C.”

Tesla’s struggles have only been compounded by growing regulatory scrutiny. While Waymo has secured permits to operate fully driverless taxis in multiple cities, Tesla’s FSD software has been criticized for safety concerns, with regulators hesitant to approve a fully autonomous deployment.

Meanwhile, General Motors’ Cruise division has also suffered setbacks, including the shutdown of its robotaxi service in December following a series of safety incidents.

Waymo wants to take its robotaxis to Washington, D.C., aiming to launch its Waymo One service in the nation’s capital by 2026. Doing so, however, would first necessitate a change to local law, which requires the presence of “safety drivers” in autonomous vehicles. Washington is also one of the country’s most congested cities, The Verge notes, and operating there could draw the attention of the federal government, which has largely left regulation of autonomous vehicles up to local jurisdictions.

NERC Reports N509.84bn Revenue Collection by DisCos in Q4 2024, Despite $8.84m Owed By Togo and Benin

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The Nigerian Electricity Regulatory Commission (NERC) has revealed that Electricity Distribution Companies (DisCos) in the country collected N509.84 billion in the fourth quarter of 2024 (Q4 2024), marking an increase from previous quarters despite $8.4 million owed by Togo and Benin.

The report, released on NERC’s website, disclosed that DisCos billed customers a total of N658.40 billion during Q4 2024, achieving a collection efficiency of 77.44 percent. This marks an improvement compared to the 74.55 percent recorded in Q3 2024, where N466.69 billion was collected from the N626.02 billion billed.

DisCo Performance: Eko Leads, Jos Struggles

A breakdown of the DisCos’ performance shows that Eko DisCo recorded the highest collection efficiency at 90 percent, followed by Ikeja DisCo at 82.63 percent. These two companies retained their positions as the best-performing DisCos in Nigeria.

At the other end, Jos DisCo recorded the lowest efficiency rate at 49.68 percent, reflecting persistent challenges in revenue collection. Abuja DisCo also experienced a decline, contributing to the wider issue of collection inefficiencies in certain regions.

NERC attributed the overall improvement in revenue collection to enhanced metering initiatives, stricter enforcement measures by DisCos, and increased regulatory oversight. However, it noted that issues such as non-payment by customers, energy theft, and inadequate infrastructure remain major obstacles to further progress.

However, while the increase in collection efficiency suggests a better revenue stream for DisCos, it has not translated into improved power supply. Nigerians continue to experience frequent blackouts, unstable voltage, and poor service delivery from electricity providers.

Amid these concerns, the Minister of Power recently announced that the government intends to review the current Band A electricity tariff, admitting that it has failed to attract the expected level of investment into the power sector. The tariff, which was introduced as part of the service-based electricity pricing model, aimed to charge higher rates for consumers who receive at least 20 hours of power daily.

Benin and Togo Owe Nigeria $8.84 Million for Electricity

While local DisCos continue to grapple with revenue challenges, Nigeria is also dealing with unpaid electricity debts from neighboring countries. Benin Republic and Togo owe Nigeria a total of $8.84 million for electricity consumed in the fourth quarter of 2024.

According to NERC’s report, six international bilateral customers were supplied electricity by Nigerian power generation companies (GenCos) during Q4 2024. These international customers were billed a cumulative $14.05 million by the Market Operator but only managed to remit $5.21 million, translating to a remittance performance of 37.08 percent.

Paras-SBEE in Benin Republic was billed $2.65 million but has yet to make payments. Paras-CEET, also in Benin, was billed $1.64 million and has not paid. Transcorp-SBEE (Ughelli) in Benin Republic was billed $3.59 million but only paid $1.71 million. Transcorp-SBEE (Afam 3) was billed $1.2 million but only remitted $0.90 million. Odukpani-CEET in Togo still owes $2.37 million for power consumed.

The report showed that only Mainstream-NIGELEC fully paid its invoice of $2.60 million. It further indicated that some bilateral customers made partial payments to clear previous debts from earlier quarters. Paras-CEET, Paras-SBEE, and Transcorp-SBEE collectively paid a total of $2.98 million towards outstanding invoices from prior periods.

Local Debt and Special Customer Defaults

On the domestic front, bilateral customers within Nigeria were billed N1.98 billion in Q4 2024 but only managed to remit N1.25 billion, representing a remittance efficiency of 63.36 percent.

Ajaokuta Steel Company and its host community once again failed to make any payments toward their outstanding electricity debts, which amounted to N1.27 billion for power supplied by the Nigeria Bulk Electricity Trader (NBET) and N110 million for Market Operator invoices.

NERC described the non-payment by Ajaokuta Steel as a longstanding issue, stating that it has formally communicated the need for government intervention. Despite repeated attempts to address this problem, no concrete solutions have been implemented to recover the outstanding funds.

Financial Growth Amid Systemic Challenges

The increase in DisCos’ revenue collection efficiency indicates a gradual improvement in revenue mobilization within Nigeria’s electricity sector. However, experts argue that financial gains will not translate into meaningful progress unless deeper structural issues are addressed.

While DisCos have recorded increased collections, the financial health of the power sector remains fragile due to high Aggregate Technical, Commercial, and Collection (ATC&C) losses. Many DisCos continue to struggle with infrastructure deficits, metering gaps, and energy theft, which erode profitability.

In response, stakeholders are advocating for several reforms to enhance revenue collection and improve service delivery, including expanding metering programs under the National Mass Metering Initiative (NMMI) to address estimated billing complaints, introducing digital payment solutions to encourage easier and more transparent customer remittances, and imposing stronger penalties for defaulting customers, both locally and internationally, to reduce unpaid electricity debts.

Crypto Market is Experiencing a Dynamic Period Shaped by Macroeconomic Shift

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The crypto market is experiencing a dynamic period shaped by macroeconomic shifts, regulatory developments, and industry consolidation. The Circle/USDC approval in Japan and Bitcoin (BTC) is trading around $88,000, nearing its all-time high of $108,268 set in December 2024. Analysts attribute this to a post-halving rally (April 2024) and renewed institutional interest, with over $4 billion flowing into BTC spot ETFs in the U.S. in Q1 2025 alone. Proposed tax breaks for BTC miners and clearer stablecoin guidelines are fueling investment. Japan’s USDC approval, the EU’s MiCA rollout, and Dubai’s crypto hub ambitions (relevant to Deribit’s license) suggest a synchronized push toward regulated crypto growth, reducing uncertainty.

Ethereum (ETH) hovers near $2,100, bolstered by staking demand and DeFi growth, while Solana (SOL) and newer tokens like SUI and APT see gains from ecosystem expansions. The total crypto market cap sits at approximately $2.97 trillion, up 15% since January. Daily price swings have increased, with BTC’s 30-day volatility index hitting 60%, driven by leveraged trading in derivatives markets. Derivatives trading volumes are outpacing spot markets 20-to-1, with daily turnovers exceeding $70 billion for BTC alone.

Deribit, a key player, saw $1.2 trillion in 2024 volume, highlighting why Coinbase’s potential acquisition is a game-changer. Perpetual futures (“perps”) remain popular due to their flexibility, with open interest at record highs ($35 billion for BTC perps). Hedge funds and proprietary trading firms are piling into options, with Deribit reporting a 40% uptick in institutional clients since Q3 2024. This trend could accelerate if Coinbase integrates Deribit’s infrastructure.

Coinbase’s bid for Deribit (valued at $4-5 billion) reflects a broader consolidation wave. Kraken’s $1.5 billion NinjaTrader buyout and Binance’s rumored $2 billion push into custody services signal exchanges diversifying amid maturing markets. Acquiring derivatives platforms allows spot-heavy players like Coinbase to capture higher-margin businesses, especially as spot trading volumes soften (e.g., Coinbase’s 29% traffic drop in March). The Trump administration’s pro-crypto stance—evidenced by SEC Chairman Gary Gensler’s exit in January 2025 and a new “Crypto Bill” draft—has unleashed optimism.

DeFi and Layer-2 Growth

Total value locked (TVL) in DeFi protocols has hit $150 billion, with Ethereum still leading (60% share) but Solana and Arbitrum gaining. Stablecoins like USDC are increasingly powering DeFi liquidity pools. Rollups like Optimism and zkSync are cutting Ethereum fees by 80%, driving user growth. This supports scalable trading and NFT ecosystems, with daily active addresses up 25% since January.

The U.S. Federal Reserve’s rate cuts (down to 4% from 5.5% in 2024) have loosened monetary conditions, favoring risk assets like crypto. Gold’s parallel rise to $2,700/oz reflects similar investor sentiment. Tensions in Eastern Europe and Asia are pushing some capital into BTC as a “digital gold” hedge, with on-chain data showing $1 billion in net inflows to cold wallets this month.

The crypto market is experiencing a dynamic period shaped by macroeconomic shifts. Bitcoin’s push toward $100,000, fueled by ETF inflows and derivatives leverage, could trigger an altcoin season if sentiment holds. Stablecoins like USDC are cementing their role as financial rails, while M&A activity (e.g., Coinbase-Deribit) points to a maturing industry. Risks include regulatory reversals or a macro downturn, but for now, tailwinds dominate—especially with institutional FOMO kicking in as Q2 2025 approaches.

Integration of USDC into Japan Enhances Credibility of Stablecoins

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Circle’s USDC has indeed become the first and only stablecoin approved for use in the Japanese markets. This milestone follows regulatory approval granted to SBI VC Trade, a subsidiary of the Japanese financial conglomerate SBI Holdings, under the Japan Financial Services Agency’s (JFSA) stablecoin framework. SBI VC Trade secured this approval on March 4, 2025, making it the first entity in Japan to be authorized as an Electronic Payments Provider capable of listing and distributing USDC. The official launch of USDC in Japan is set for March 26, 2025, starting with SBI VC Trade, with plans to expand to other major exchanges like Binance Japan, bitbank, and bitFlyer soon after.

This development marks a significant step for Circle, aligning with Japan’s updated regulatory environment, which began recognizing stablecoins as an “electronic payment method” under the revised Payment Services Act effective June 1, 2023. The framework requires stablecoins to be pegged to legal tender (like the yen or dollar) and ensures holders can redeem them at face value, with only licensed financial institutions permitted to issue or distribute them. Circle’s partnership with SBI Holdings, solidified through a joint venture and a memorandum of understanding signed in November 2023, has been instrumental in navigating this regulatory landscape and bringing USDC to Japan.

Japan, traditionally a cash-heavy economy, has been pushing toward digitalization. USDC’s entry could accelerate the adoption of digital payments, especially in a market where trust in stable, regulated assets is high. This aligns with the Japanese government’s “cashless society” initiatives, potentially increasing transaction efficiency. With USDC pegged to the U.S. dollar, Japanese businesses and individuals gain a reliable tool for international transactions. This could lower costs and settlement times compared to traditional banking systems, strengthening Japan’s position in global trade, especially with dollar-based economies.

The introduction of USDC via SBI VC Trade and its planned expansion to major exchanges like Binance Japan and bitFlyer could pressure other financial institutions and crypto players to innovate or seek similar approvals, fostering a more competitive digital asset ecosystem. Japan’s approval of USDC under its stringent Payment Services Act sets a global benchmark. It demonstrates a workable model for regulating stablecoins—requiring pegging to fiat, redeemability, and oversight by licensed entities—which other nations might emulate.

By integrating USDC into a highly regulated framework, Japan enhances the credibility of stablecoins, distancing them from the volatility and scandals (e.g., TerraUSD’s collapse) that have plagued the broader crypto market. This could encourage wider institutional adoption. The success of USDC might prompt regulators to greenlight additional stablecoins (e.g., yen-pegged ones), though Circle’s first-mover advantage could solidify its dominance unless competitors quickly align with Japan’s rules. USDC’s integration into Japan’s financial system highlights blockchain’s utility for secure, transparent transactions. This could spur investment in blockchain infrastructure by Japanese firms, particularly through Circle’s partnership with SBI Holdings.

While Japan’s regulations are strict, USDC’s presence might pave the way for decentralized finance (DeFi) applications, provided they comply with local laws. This could bridge traditional finance and Web3 in one of Asia’s largest economies. SBI Holdings, already a major player in Japan’s financial sector, strengthens its position in the crypto space. Its joint venture with Circle could position it as a leader in digital asset services, potentially influencing other regional markets.

Japan’s move comes as stablecoins gain traction globally—e.g., the EU’s MiCA framework and the U.S.’s ongoing regulatory debates. With a market cap of over $40 billion for USDC, its entry into Japan (the world’s third-largest economy) could amplify Circle’s influence, pressuring competitors like Tether (USDT) to seek similar approvals or risk losing ground in regulated markets. However, challenges remain: Japan’s conservative financial culture and strict compliance requirements might limit rapid adoption unless consumer education and infrastructure (e.g., wallet accessibility) keep pace. USDC’s approval could reshape Japan’s financial landscape, reinforce its regulatory leadership in crypto, and signal a broader shift toward stablecoin acceptance worldwide.

Coinbase in Advanced Negotiations to Acquire Deribit

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Coinbase, the leading U.S.-based cryptocurrency exchange, is reportedly in advanced negotiations to acquire Deribit, a prominent crypto derivatives platform known for its dominance in Bitcoin (BTC) and Ethereum (ETH) options trading. While Deribit does offer perpetual futures (“perps”), it is primarily recognized as the world’s largest centralized trading platform for crypto options by volume, not exclusively a “perps’ platform.” This distinction matters, as perpetual futures are just one part of its offerings alongside options and spot trading.

Reports indicate that Coinbase and Deribit have informed regulators in Dubai—where Deribit holds an operational license—about these discussions. The potential acquisition would transfer this license to Coinbase, facilitating its expansion into the global derivatives market. Deribit’s trading volume reached approximately $1.2 trillion in 2024, nearly doubling from the previous year, underscoring its significance in the crypto derivatives space. Earlier estimates from January 2025 pegged Deribit’s valuation between $4 billion and $5 billion, which, if accurate, would make this one of the largest acquisitions in crypto history.

Implications for Coinbase and the Market

For Coinbase, acquiring Deribit would turbocharge its push into derivatives, a sector where it currently has a limited presence compared to its spot trading dominance. Coinbase has been expanding its derivatives arm, notably through its Bermuda-based Coinbase International Exchange launched in 2023, but Deribit’s established infrastructure and market share—handling 75-80% of centralized crypto options volume—would provide an immediate leap forward. This move aligns with a broader trend among U.S. exchanges, as seen with Kraken’s recent $1.5 billion acquisition of NinjaTrader to bolster its futures offerings.

Derivatives trading volumes are outpacing spot markets 20-to-1, with daily turnovers exceeding $70 billion for BTC alone. Deribit, a key player, saw $1.2 trillion in 2024 volume, highlighting why Coinbase’s potential acquisition is a game-changer. Perpetual futures (“perps”) remain popular due to their flexibility, with open interest at record highs ($35 billion for BTC perps). Hedge funds and proprietary trading firms are piling into options, with Deribit reporting a 40% uptick in institutional clients since Q3 2024. This trend could accelerate if Coinbase integrates Deribit’s infrastructure.

The acquisition could reshape the competitive landscape. Coinbase would gain a foothold in perpetual futures and options, markets that dwarf spot trading in volume (e.g., BTC derivatives hit $70 billion daily versus $3 billion in spot recently). This could diversify its revenue streams, especially critical as its spot trading traffic reportedly dropped 29% earlier this month. However, it’s not a done deal—sources caution that negotiations, while advanced, may not finalize.

This comes amid a shifting regulatory climate. Japan’s approval of Circle’s USDC (as noted earlier) and a more crypto-friendly U.S. stance under the Trump administration—evidenced by the SEC dropping investigations and clearer policies—may be emboldening such consolidations. For Deribit, which recently exited Russia due to EU sanctions, a buyout by a publicly listed firm like Coinbase could stabilize its operations and expand its reach, particularly in the Middle East via Dubai. If successful, this acquisition would position Coinbase as a powerhouse in both spot and derivatives markets, potentially challenging global giants like Binance and Bybit, while signaling a new wave of consolidation in crypto as institutional demand surges.