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CBN Gov. Confirms AI Adoption in Nigeria’s Monetary Policy, Says Crypto Guidelines Coming Soon

By
Samuel Nwite
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0

Nigeria’s Central Bank Governor, Yemi Cardoso, has confirmed that the bank has officially adopted artificial intelligence (AI) in its monetary policy framework, particularly for macroeconomic forecasting and decision-making, marking a major step toward digital modernization of monetary governance in Africa’s fourth-largest economy.

Speaking at a fireside chat at the London Business School, moderated by Helene Rey, Lord Bagri Professor of Economics, Cardoso said AI has been fully integrated into the bank’s policy modeling process, describing the technology as an indispensable tool in an era driven by data and predictive analytics.

The governor’s comments mark the first public confirmation that the CBN has formally incorporated artificial intelligence into its policy processes, placing Nigeria among a growing list of central banks globally — including the Bank of England and the U.S. Federal Reserve — experimenting with AI for inflation modeling, exchange rate analysis, and liquidity forecasting.

Cardoso said the initiative is part of a broader effort to make policy “data-driven, transparent, and forward-looking,” as Nigeria continues to confront inflationary pressures and foreign exchange volatility.

On Cryptocurrency Regulation

Responding to a question on cryptocurrency, Cardoso acknowledged the asset class’s growing significance among young Nigerians, signaling a shift from the central bank’s previously restrictive stance.

He said the apex bank understands its importance to young Nigerians and will soon put out a statement in this direction, suggesting that a formal regulatory update is imminent.

The CBN had in 2021 restricted banks from facilitating crypto transactions, citing concerns about money laundering and capital flight. However, under Cardoso’s leadership, the tone has softened, particularly as global financial systems move toward regulated digital asset integration.

Interest Rates and Financial System Stability

On interest rates, Cardoso conceded that rates remain high, but expressed confidence that “as the situation develops, it will start to adjust itself.” He noted that the disappearance of arbitrage opportunities in the foreign exchange market would force Nigerian banks to shift focus toward real business generation and lending, rather than speculative gains.

Turning to the bank recapitalization drive, Cardoso reiterated that institutions unable to meet new capital requirements would have the option to downgrade their licenses or pursue mergers. He stressed that banks have been given sufficient time to comply and dismissed any notion of panic or deadline extension.

Bond Market and FX Reforms

Cardoso also addressed concerns over a perceived “takeover” of the bond market, clarifying that the CBN’s interventions are aimed at price discovery and market efficiency, not control.

He explained that there is no takeover of the bond market but price discovery, similar to FX market reforms, which makes the market function better. The reform, he explained, will get participants to operate transparently, according to their license category.

The governor added that electronic funding and other digital systems continue to play a central role in the ongoing reforms designed to enhance transparency and liquidity in Nigeria’s financial markets.

Reforms and Policy Focus

Cardoso was candid in his assessment of Nigeria’s economic challenges, saying that many of the current hardships stem from reforms that should have been implemented a decade ago.

He explained that things wouldn’t be this bad if reforms such as fuel subsidy removal and the floating of the FX market had been done earlier. He reaffirmed that the Central Bank’s primary mandate remains stability, not short-term economic growth.

Cardoso’s remarks at the London Business School mark a pivotal moment for Nigeria’s monetary policy direction. The adoption of AI for economic forecasting indicates a deliberate modernization of central banking operations — one that could improve the precision of inflation projections and exchange rate management.

At the same time, his openness to digital assets reflects a more pragmatic approach to cryptocurrency regulation, setting him apart from his predecessor and potentially setting the stage for Nigeria’s integration into global fintech trends.

Odds On Polymarket and Kalshi Shows Pricing For Prolonged U.S. Government Shutdown

By
Paul Ugbede Godwin
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0

The partial U.S. federal government shutdown—triggered by a lapse in appropriations on October 1—has entered its 10th day. Non-essential services remain halted, affecting hundreds of thousands of federal workers, national parks, and research funding.

Negotiations in Congress have stalled amid partisan disputes over spending priorities, with no immediate resolution in sight. Prediction markets like Polymarket, where users trade shares priced between $0.01 and $1.00 reflecting implied probabilities, are increasingly pricing in a prolonged shutdown.

The platform’s “When will the Government shutdown end?” market resolves based on the U.S. Office of Personnel Management (OPM) announcement of the end of the lapse in appropriations.

These probabilities are derived from share prices: e.g., a “Yes” share for “shutdown lasts 30+ days” trading at $0.37 implies a 37% chance. Trading volume exceeds $1.5 million, with bets tilting toward extension due to failed Senate votes and fiscal hawk resistance.

Similar trends appear on rival platform Kalshi, where the average expected duration is now 24.7 days. Senate votes on funding bills have repeatedly failed, with odds of passage by Oct. 15 dropping from 56% (Oct. 3) to 26% (Oct. 6).

The 2018-2019 shutdown lasted 35 days—the longest on record. Current bets suggest this could approach that if no deal by late October. WSJ reports highlight traders “raising bets on shutdown dragging to end of October,” driven by economic ripple effects like delayed jobs data.

If new developments emerge via breakthrough vote, these odds could shift rapidly—prediction markets update in real-time. While short shutdowns (under a week) typically cause minimal long-term damage, this one is already generating measurable economic strain, with analysts warning of escalating costs if it extends beyond mid-October.

The Council of Economic Advisers (CEA) estimates a baseline hit of $15 billion to GDP per week, driven by reduced federal spending, furlough-related income losses, and ripple effects on private sectors.

For context, the 2018-2019 shutdown 35 days cost $11 billion overall, including $3 billion in permanent losses. These stem from halted operations and mandatory back pay for furloughed workers required by law once funding resumes.

Furloughs equate to temporary layoffs, potentially adding 43,000 unemployed in a monthlong scenario. Indirectly, federal contractors, ~$2 billion in delayed SBA loans from past shutdowns and small businesses face cash flow crunches.

The Bureau of Labor Statistics (BLS) has suspended surveys, delaying the September jobs report (due Oct. 4), October CPI (Oct. 10), and potentially the Social Security 2026 COLA announcement tied to Q3 inflation data.

This “data blackout” leaves Wall Street “in the dark,” complicating Fed rate decisions—officials are still eyeing an October cut despite slowdown signals. Goldman Sachs notes a 0.15 percentage point drag on Q4 GDP from furloughs alone.

National parks like Everglades, Yosemite are closed, costing $76 million/day in visitor spending U.S. Travel Association. Airports face longer TSA lines due to unpaid staff working without pay; air travel disruptions could add $1-2 billion in losses if prolonged.

SNAP benefits are funded through October, but WIC Women, Infants, and Children may exhaust funds by late October, affecting 6.7 million participants. States like Connecticut and Colorado are dipping into reserves to cover gaps, but reimbursement is uncertain—exacerbating fiscal strain amid record $600 billion in 2025 municipal bond issuance.

NIH grants are paused, delaying medical trials; FDA inspections halted could slow drug approvals. Medicare and Social Security processing slows, with longer wait times for 72 million beneficiaries.

Stocks have shrugged it off so far S&P 500 hit records on AI rallies, but prolonged uncertainty could erode consumer confidence—already at 55.1 University of Michigan index, down from 70.3 last year. Gold surged past $4,000/oz as a hedge against debt/inflation fears.

Treasury Inflation-Protected Securities face volatility from delayed CPI. States are fronting costs for federal programs such as Head Start reviews stalled, with unclear repayment prospects. In D.C.-heavy economies like Alaska federal jobs = 15% of workforce, termination threats amplify risks.

Consumer sentiment surveys show 65% expecting rising unemployment, up from 35% a year ago. If the shutdown lasts 15+ days 35-45% odds on Polymarket, indirect effects could tip the U.S. economy—already vulnerable from tariffs and slowing jobs—toward recession.

The 2019 event’s $3 billion irrecoverable hit was just 0.01% of GDP, but today’s higher debt $35+ trillion amplifies multiplier effects. Fed Vice Chair Michael Barr noted “uncertainty remains” on impacts. Most damage is reversible upon resolution, but prolonged stalemate risks confidence erosion 70% of GDP is consumer-driven.

Coinbase and Mastercard Are In Advanced Talk To Acquire BVNK

By
Paul Ugbede Godwin
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Recent reports confirm that Coinbase and Mastercard are both in advanced talks to acquire BVNK, a London-based fintech startup specializing in stablecoin payment infrastructure.

The potential deal, first detailed in a Fortune exclusive on October 9, 2025, could value BVNK between $1.5 billion and $2.5 billion, making it the largest stablecoin-related acquisition to date if completed.

This comes amid surging interest in stablecoins, with the sector’s market cap exceeding $300 billion, fueled by regulatory progress like U.S. Congress’s recent stablecoin legislation and Circle’s high-profile IPO.

Founded in 2021 by Chris Harmse, Jesse Hemson-Struthers, and Donald Jackson, BVNK provides blockchain-based tools for businesses to handle stablecoin transactions, including cross-border payments, global treasuries, and customer settlements.

Stablecoins here are pegged to assets like the U.S. dollar for stability. The company recently raised $50 million in December 2024 valuing it at ~$750 million then, backed by Haun Ventures, Coinbase Ventures, Tiger Global, Visa, and Citi—highlighting its appeal to both crypto and traditional finance players.

Coinbase (NASDAQ: COIN) and Mastercard (NYSE: MA) are pursuing separate tracks, but no final agreement exists yet—talks could still collapse. Sources indicate Coinbase has the “inside track,” potentially integrating BVNK to bolster its USDC ecosystem via partner Circle for enterprise payments and merchant services.

For Mastercard, it signals a defensive move against stablecoin disruption to card networks, especially after share dips tied to reports of Amazon and Walmart exploring stablecoins.

This follows Stripe’s $1.1 billion acquisition of stablecoin firm Bridge in October 2024, underscoring a wave of consolidation as incumbents race to own stablecoin rails.

Analysts like Ryan Yoon of Tiger Research note diverging motives: Coinbase seeks full value-chain control, while Mastercard eyes white-label crypto services without custody risks.

Circle’s IPO provided a much-needed liquidity event for early investors and executives, with major shareholders like General Catalyst, Breyer Capital, Accel, IDG Capital, Oak Investment Partners, and Fidelity Investments collectively holding over 130 million shares.

Venture firms such as General Catalyst now hold stakes worth billions post-IPO. The company generated $579 million in revenue and $65 million in profit in Q1 2025 annualizing to strong growth, followed by Q2 revenue of $658 million (up 53% YoY) and adjusted EBITDA of $126 million (up 52% YoY).

However, Q2 reported a $482 million net loss, driven by non-cash charges totaling $591 million from IPO-related stock compensation ($424 million) and convertible debt revaluation ($167 million). USDC circulation exploded post-IPO, growing 90% YoY to $61.3 billion by Q2 end and reaching $65.2 billion.

Despite the monster valuation trading at ~215x 2025 earnings and 24x revenue, analysts highlight risks from stablecoin competition and regulatory uncertainties, though Circle’s compliance focus positions it well.

The IPO catalyzed a surge in stablecoin adoption, with global supply hitting $239 billion by mid-2025. It validated regulated stablecoins like USDC, accelerating integrations by JPMorgan, Visa, and others.

This ties into U.S. regulatory progress, including the GENIUS Act which mandates reserves, audits, and redemption rights—using Circle’s transparency as a benchmark. The EU’s MiCA and regulators in Singapore/Japan have aligned similarly, boosting Circle’s global reach.

As the largest crypto IPO since Coinbase’s 2021 debut, Circle’s success up sixfold in weeks signaled thawing SEC scrutiny under a more crypto-friendly administration, sparking optimism for listings from Ripple, Kraken, and Gemini.

It boosted the 2025 IPO drought’s end, with June seeing five tech IPOs up from a monthly average of two, including health-tech firms like Hinge Health. VCs like Sequoia and Kleiner Perkins are eyeing profits from upcoming deals like Figma’s.

Partnerships with Coinbase USDC co-issuer and Binance expanded, while the IPO drew TradFi giants into stablecoin rails. This has pressured competitors like Mastercard in talks to acquire BVNK and fueled speculation on Amazon/Walmart stablecoin explorations, potentially disrupting card networks.

Circle’s IPO continues to underscore 2025 as the “year of stablecoins,” with USDC’s utility in payments, remittances, and DeFi driving real-world adoption. CEO Jeremy Allaire noted post-IPO “acceleration of interest” from major institutions, positioning Circle as a bridge for the “new internet financial system.”

Mastercard, and BVNK have all declined to comment, so developments remain fluid—watch for updates as negotiations progress.

Quine by Larva Labs Launches on Art Blocks, VIBESTR Launches Amid Good Vibes Club Adoption, as Roger Ver’s $48M Settlement with US DOJ

By
Paul Ugbede Godwin
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0

The generative art project Quine by Larva Labs—the duo behind CryptoPunks, Autoglyphs, and Meebits—officially went live on October 10, 2025, as the final release in Art Blocks’ flagship Curated series marking the 500th project in their foundational on-chain collection from 2020–2025.

This conceptual piece explores “quines,” self-replicating code that outputs its own source code, blending algorithmic generation with themes of code-as-art and art-as-code. It’s a fitting capstone for Art Blocks’ curated drops, emphasizing fully on-chain, unsupervised generative outputs.

Owners of multi-iteration Quines can use Art Blocks’ “post params” to dynamically select display iterations on marketplaces—fully on-chain and changeable anytime. Early signals from institutions like the Toledo Museum of Art and Christie’s indicate strong demand, positioning this as a high-profile mint.

Community hype is building, with predictions of a 3 ETH floor post-auction due to Larva Labs’ legacy and the project’s historical significance. You can participate via the official Art Blocks page.

VIBESTR Launches and Good Vibes Club Adopts It as Ecosystem Token

In parallel NFT ecosystem news, VibeStrategy (VIBESTR)—the latest iteration of TokenWorks’ NFT Strategy protocol—launched on October 9, 2025, and was immediately adopted as the official utility token for the Good Vibes Club (GVC) NFT collection.

GVC, a 6,969-piece art-focused series from award-winning animation studio Toast in partnership with SuperRare, launched in March 2025 and has since built a vibrant community around “Vibetown,” emphasizing feel-good Web3 content and experiences.

NFT Strategy is an automated trading protocol that ties a project’s native token like $VIBESTR to its NFT collection’s performance: trading fees and volume accrue to buy back and burn NFTs, creating a “flywheel” that boosts scarcity and holder value. GVC’s adoption marks a bold step, with the team committing to a 69 ETH (~$300K) market buy of $VIBESTR for their treasury—half executed immediately—to align incentives and fund community activations, partnerships, and collector perks.

Launch performance has been explosive: 24-Hour Volume: $8.7M for $VIBESTR, outpacing peers like $APESTR, $PUDGYSTR, and $BIRBSTR. Already 390 ETH enough to acquire ~650 GVC NFTs at current floors.

Currently at ~0.72 ETH up from recent lows, with analysts forecasting a push above 1 ETH in 48 hours as the flywheel engages—potentially sweeping 200–300 NFTs in the first week alone. This positions $VIBESTR as a frontrunner among strategy tokens, especially with GVC’s intact royalties, single-collection focus, and ongoing OpenSea rewards quests.

Community sentiment is bullish, viewing it as a “no-brainer” play for GVC holders and new entrants. Trade $VIBESTR on DEXs like Uniswap, and explore GVC on OpenSea. These drops highlight the NFT space’s resilience: Larva Labs closing a chapter in generative art history, while GVC innovates ecosystem mechanics.

Roger Ver’s $48M Settlement with US DOJ And State Street Forecast on Crypto Adoption

Roger Ver, the early Bitcoin investor and advocate often dubbed “Bitcoin Jesus” for his role in promoting the cryptocurrency, has reportedly reached a tentative deferred-prosecution agreement with the U.S. Department of Justice (DOJ) to resolve charges of tax evasion, mail fraud, and filing false tax returns.

Under the deal, Ver would pay approximately $48 million in back taxes and penalties to the IRS, rather than the $40 million figure circulating in some initial reports. If he fully complies with the terms—including the payment and other conditions—the charges would be dropped, allowing him to avoid a full criminal trial and potential extradition from Spain, where he was arrested in April 2024.

The charges stemmed from Ver’s alleged failure to report and pay taxes on capital gains from selling tens of thousands of Bitcoins in 2017, valued at around $240 million at the time. Despite renouncing his U.S. citizenship in 2014 which triggered an “exit tax” obligation on his holdings, prosecutors claimed Ver and his companies MemoryDealers and Agilestar concealed ownership of about 131,000 BTC.

This settlement reflects a pragmatic approach by the DOJ, potentially avoiding a lengthy trial that could challenge the constitutionality of crypto-related exit taxes. Ver has not publicly commented, and the DOJ has declined to confirm details.

This case highlights ongoing U.S. enforcement scrutiny on high-profile crypto figures, even as the regulatory landscape evolves under the current administration.

State Street: 60% of Institutional Investors Eyeing Crypto Growth

A new 2025 Digital Assets Outlook report from State Street, a major global asset manager overseeing over $5 trillion in assets, reveals surging institutional interest in cryptocurrencies.

Nearly 60% of surveyed institutional investors including pension funds, endowments, and family offices plan to increase their allocations to digital assets like Bitcoin and other cryptos over the next 12 months.

Current average exposure stands at 7% of portfolios, but this is projected to double to 16% within three years (by 2028), driven by tokenized real-world assets (RWAs), stablecoins, and blockchain efficiency.

Tokenization benefits cited by respondents: improved transparency (52%), faster trading/settlement (39%), and reduced compliance costs (32%), with nearly half expecting over 40% cost savings.

40% of institutions now have dedicated digital asset teams, and one-third have integrated blockchain into broader digital strategies. By 2030, over half anticipate 10-24% of investments executed via tokenized instruments, starting with private equity and fixed income.

Joerg Ambrosius, President of Investment Services at State Street, noted: “Institutional investors are moving beyond experimentation—digital assets are now a strategic lever for growth, efficiency, and innovation.”

This trend aligns with broader data, such as North America’s $2.3 trillion in institutional crypto transaction volume over the past year, signaling crypto’s maturation as a mainstream asset class.

Cryptocurrency adoption has accelerated dramatically, transitioning from niche speculation to mainstream financial integration. Global user numbers have surged past 650 million, with institutional involvement, regulatory clarity, and demographic shifts fueling this momentum.

Bitcoin and stablecoins lead the charge, while emerging trends like tokenization and AI-blockchain intersections promise further growth. This isn’t just hype—data shows crypto outpacing historical tech adoption rates, positioning it as a core layer of the global economy.

25% of North American CFOs expect digital currency use within two years, with firms like BlackRock and Fidelity adding Bitcoin to reserves. The U.S. Strategic Bitcoin Reserve established March 2025 has increased non-owner confidence by 23% in the U.S. and 19-21% globally.

Volumes for euro-pegged (EURC) and regulated stablecoins (USDC, PYUSD) have exploded, enabling low-cost cross-border transfers. This outdates traditional rails, with 48% of U.S. holders prioritizing security enhancements for wider payments adoption.

Predict Shark Launches Prediction Market Parlays Built on Polymarket’s Stack

By
Paul Ugbede Godwin
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0

Predict Shark officially rolled out its highly anticipated parlay feature, allowing users to combine multiple prediction market outcomes into single, high-reward bets.

Built on the Polymarket blockchain ecosystem, this update transforms simple yes/no event predictions like election results, sports outcomes, or economic indicators into complex, customizable parlays—similar to sports betting combos but powered by decentralized finance (DeFi) and crowd-sourced probabilities.

Traditional prediction markets like Polymarket let you buy “shares” in outcomes like “Will Team A win?”. Parlays multiply odds across events, potentially turning a $10 stake into 10x+ returns if all legs hit.

Predict Shark’s tool automates the math, showing real-time implied probabilities and potential payouts. Unlike basic sportsbooks, you can mix uncorrelated events—e.g., “US election winner + Fed rate cut + Bitcoin above $100K by EOY”—for diversified exposure without overpaying vig (juice).

Leverages Polymarket’s low-fee structure often under 1% and USDC settlements, making it accessible globally where crypto is legal. No KYC hurdles for most users, unlike fiat platforms like Kalshi.

Prediction Markets Hub launch in September 2025, this fits a broader trend: prediction volumes exploded 300% YoY, driven by 2024’s election cycle and sports integration. Predict Shark positions itself as the “advanced layer” for power users, with tools for backtesting parlay strategies.

Crypto basis risk if USDC fluctuates, though minimal on stablecoins. Relies on Polymarket oracles; rare but check event rules. Fine for non-US users, but US folks should stick to CFTC-approved spots like Kalshi for compliance.

Early buzz on X highlights the “fish quantification” angle—parlays let sharp traders spot over/undervalued legs in real-time, potentially siphoning edge from retail. If you’re into prediction trading, this could be the upgrade your portfolio needs.

By enabling users to chain multiple Polymarket outcomes into leveraged bets with automated odds calculation, Predict Shark bridges the gap between simple binary trades and high-stakes, customizable strategies. This move amplifies several key trends, while introducing fresh risks and opportunities.

Parlays democratize complex betting, letting retail users mimic pro strategies without manual math. This could boost retention, as live odds and real-time adjustments inspired by platforms like PredictBase turn passive predictions into dynamic, session-long experiences—users report 5x more bets per session with in-play elements.

Unlike sportsbooks that limit sharp winners, prediction market parlays reward informed stacking of probabilities. Tools like Predict Shark’s simulator encourage backtesting, fostering a “wisdom of the crowd” edge—markets have historically outperformed polls by aggregating diverse insights.

However, the flip side is amplified losses: a single missed leg wipes out the bet, potentially fueling addiction-like behavior in volatile setups. As one economist noted, parlays enable “safe” yield plays—betting against unlikely outcomes at low risk, beating high-yield savings accounts while hedging portfolios.

For crypto natives, this integrates DeFi seamlessly, using USDC for low-fee, borderless access. Parlays could 10x trading volumes by creating endless micro-bet opportunities, as seen in Kalshi’s 90% sports surge post-parlay intro.

Predict Shark’s DeFi model 2% fees feeding buybacks/burns mirrors broader trends, projecting $1M+ daily volume and deflationary tokenomics for $PREDI-like ecosystems. Traditional sportsbooks like DraftKings lost $7B in market cap after similar features hit prediction platforms, as users migrate for zero-vig, peer-to-peer efficiency.

Expect copycats—Polymarket’s $2B ICE investment signals TradFi integration, while Kalshi eyes prop spreads and AI-driven odds. Predict Shark’s focus on uncorrelated events sets it apart, but scaling parlays demands robust collateral management to avoid microstructure issues like over-collateralization in high-leg bets.

Prediction markets like this lower barriers—no whitepapers needed, just opinions on real events. This could onboard millions of “retail” users during bear markets, turning pop culture and politics into crypto’s intuitive entry point. While Predict Shark operates globally on Polymarket’s blockchain U.S. users face CFTC scrutiny—parlays blur lines between “information markets” and gambling.

Wins like Kalshi’s injunctions open doors, but states decry tax evasion as platforms sidestep sports betting regs. Government insiders are already barred from trading, raising insider trading risks for crypto market makers.

Positively, parlays promote civic engagement—betting on Fed cuts or elections incentivizes informed news consumption. But critics warn of manipulation or jarring divergences, like a 90% market probability clashing with reality, eroding trust in crowd wisdom.

Globally, this could expand to corporate hedging or policy forecasting, but only if platforms prove societal value over addiction risks. From Betting to Information EconomyDisruption of $100B+ Industries: Prediction markets are projected for 100x growth, displacing sportsbooks by offering fairer odds and broader scopes AI tech launches, climate events.

Parlays supercharge this, evolving from “entertainment” to “truth engines”—faster info aggregation than polls, with blockchain ensuring censorship resistance. In crypto downturns, parlays provide uncorrelated yields, relying on real-world events rather than token hype—potentially stabilizing trenches with steady volumes.

This unlocks gamified formats and net-new markets in tech/AI, surfacing collective intelligence in ways polls can’t. By 2030, global in-play volumes could hit $14B, with prediction platforms channeling trillions into efficient, global capital flows.

Predict Shark’s parlays aren’t isolated—they’re fuel for a supercycle where prediction markets eclipse traditional betting, blending finance, AI, and real-world stakes. The upside is massive for savvy users and builders, but sustainability hinges on navigating regs and building antifragile systems.

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