Author: Olumide Adesina

Olumide Adesina is a French-born Nigerian financial writer. He tracks the financial markets with over 15 years of working experience in investment trading.

Apple Opens Siri to Gemini & Claude in iOS 27

Posted on by Olumide Adesina

Apple plans to make Siri interoperable with external AI assistants in a significant step to strengthen the iPhone as an AI platform. The company is preparing to implement the change as part of a Siri overhaul in its upcoming iOS 27 operating system update.

Through a collaboration with OpenAI, the assistant can already access ChatGPT; however, Apple will now permit rival services to do the same.

The adjustments are part of an effort to improve Apple’s artificial intelligence performance, where it has fallen short of its Silicon Valley competitors. A key component of the comeback strategy is redesigning Siri, which was first introduced almost 15 years ago.

The company is creating new tools to enable AI chatbot apps installed through the App Store to integrate with the Siri assistant.

Along with other features in the Apple Intelligence platform, the chatbots will also be compatible with an upcoming Siri app. For example, users would be able to send queries to Alphabet Google Gemini or Anthropic PBC’s Claude from within the Siri voice assistant, just as they have been able to do with ChatGPT since the launch of Apple Intelligence in 2024.

Additionally, the strategy ought to enable Apple to increase revenue from third-party AI subscriptions via the App Store. The modification has nothing to do with Apple and Google’s efforts to rebuild Siri using Gemini models. This arrangement with the Apple technology that powers Sir

i. In the meantime, users would be able to process requests through the actual Gemini server thanks to the new so-called Extensions system. Nevertheless, Google’s stock initially suffered as a result of the news, hitting a session low on Thursday. Apple was unchanged at $252.89, while the stock closed at $280.92, down 3.4 percent.

The features may still change or be delayed before the Cupertino, California-based company’s June 8 Worldwide Developers Conference announcement of its most recent software. The iPhone manufacturer promises information about “AI advancements” at the event on its website.

Meta, Google Found Liable in Landmark Social Media Addiction Lawsuit

Posted on by Olumide Adesina

A 20-year-old woman who claimed that her addiction to social media was a factor in her mental health problems was awarded damages by a jury that found Meta and Google liable. As the companies fight thousands of similar claims, this landmark decision could put them at grave risk

 

The Los Angeles verdict on Wednesday, the ninth day of jury deliberations, highlights the difficulty of determining how much social media is to blame for the varying degrees of distress that young people endure.

It also draws attention to the potential multibillion-dollar exposure from lawsuits claiming that YouTube, Instagram, and other platforms are intentionally designed to addict young users without taking into account their welfare.

Two more bellwether cases are scheduled to go to trial in California state court this year. The companies’ losses may spur settlement negotiations, which could lead to a comprehensive deal akin to those that hurt the tobacco and opioid industries.

The lawsuits, which are based on allegations of psychological distress, physical impairment, and suicide death, have been filed by children, adolescents, and young adults, sometimes through their parents, siblings, or other family members.

According to Eric Goldman, associate dean for research at Santa Clara University School of Law, who has taught and studied internet law for over 30 years, “it’s evident that juries are concerned.” They’re “willing to attach large damage awards.”  The 12-person jury in the first case of its kind to go to trial determined that Meta and Google should have warned that their products might be hazardous for minors and were negligent in the way their platforms were operated. Certain civil lawsuits do not require unanimous verdicts, unlike criminal cases.

The jurors found both companies liable by a vote of 10-2. The jury determined that Google owes $1.8 million and that Meta must pay $4.2 million to the plaintiff, Kaley GM. Kaley’s losses, including the cost of therapy, will be covered by half of each company’s payment; the other half will be used as punitive damages to deter future wrongdoing.

Mark Lanier, a Kaley attorney, had argued to the jury that they should take into account the enormous wealth of both businesses, emphasizing that even $1 billion in punitive damages would be insignificant.

Kaley blamed the platforms for several negative effects, including anxiety, depression, and body dysmorphia. She claimed to have started using the Instagram photo-sharing app at the age of nine and to have started watching YouTube at the age of six. Despite being present in the courtroom to hear the verdicts, she remained silent.

Ripple’s Moment of Truth: XRP Faces Pivotal SEC Ruling

Posted on by Olumide Adesina

A major regulatory deadline could affect its short-term momentum and market perception of the XRP token.  This focus intensified after John Squire highlighted March 27 as a critical date associated with a Securities and Exchange Commission review deadline involving XRP-related exchange-traded fund considerations.

His analysis captures the general market mood in which traders closely monitor regulatory developments to find direction. Although they do not ensure a final approval or rejection, these deadlines act as decision points for the regulator, who may approve, reject, or extend its evaluation.

This procedure is particularly crucial for XRP due to its evolving regulatory status. Further developments within regulated investment frameworks could improve the asset’s standing in institutional portfolios, as it has already benefited from increased clarity in recent months.

Exchange-traded funds are where institutional capital enters the market. Through regulated financial instruments, they allow investors to gain exposure to digital assets without actually holding the underlying tokens. This structure reduces operational barriers by aligning cryptocurrency investments with traditional market systems.

If XRP-related ETF products receive approval or make notable advancements, they might attract new capital inflows. Price stability, liquidity, and long-term market confidence are often enhanced by increased institutional involvement.

There are several possible outcomes for the SEC’s decision-making process. An approval would indicate increasing regulatory acceptance and bolster bullish sentiment. Delays would increase uncertainty and maintain XRP’s range-bound structure.

A rejection might not change the long-term outlook, but it might create short-term downside pressure. The decision itself, as well as the overall liquidity conditions and investor sentiment, will determine how the market responds.

John Squire’s description of this event as a “decision day” illustrates the significance the market places on regulatory signals. Even neutral outcomes can cause volatility if they deviate from expectations. This deadline is a significant step in XRP’s integration into mainstream financial systems, even though it may not fully define the cryptocurrency’s future.

Bitcoin Slams $72K: Bull Breakout or the Final Act of a Massive Bear Flag?

Posted on by Olumide Adesina

Bitcoin’s recent surge toward $72K highlighted a brief increase that could trap overly aggressive long traders.  Positioning in derivatives markets has become noticeably more optimistic. The OI-Weighted Funding Rate has reached its most optimistic level since February 23rd, rising to 0.0054 percent.

The latest reversal caused Bitcoin to lose much of its gains for the week.

This indicates long positions account for a sizable portion of Bitcoin’s $50.64 billion in open interest.

Such positioning would support a bullish outlook under normal market conditions. However, in the current situation, it increases the risk of overcrowding, which makes the market susceptible to a reversal due to excessive long exposure.

The imbalance zones that preceded steep drops to $90,000 and then $80,000 are more similar to the current formation around $72,000. In those cases, the imbalance indicated fatigue instead of persistence. Given that this pattern is now recurring, it is obvious that the current rally might not be structurally sound. Rather, it might be a brief increase preceded by a more extensive decline, probably due to lengthy liquidations.

Beyond technical structure, a sustained rally is not supported by the macro and on-chain context for Bitcoin. The rising yields on high-yield bonds showed investors’ growing caution.

Concurrently, there is little activity from retail traders in the spot market. Trading frequency is essentially unchanged, continuing a multi-month pattern of low activity. Growing retail activity is usually a major source of momentum during a strong bullish phase.

Its absence suggests that the current movement lacks the breadth and depth necessary to maintain price increases. The Spot market is showing some accumulation, but not enough to support a reversal of the trend.

A slight increase in the Accumulation/Distribution (A/D) indicator indicates that some investors are starting to make purchases.

This signal is still preliminary. The indicator must break above its resistance trendline and continue for a bullish shift to be confirmed. Until then, early positioning rather than conviction is reflected in the current accumulation phase.

Ripple: XRP Braces for Make-or-Break SEC Decision

Posted on by Olumide Adesina

A major regulatory deadline could affect its short-term momentum and market perception of the XRP token.  This focus intensified after John Squire highlighted March 27 as a critical date associated with a Securities and Exchange Commission review deadline involving XRP-related exchange-traded fund considerations.

His analysis captures the general market mood in which traders closely monitor regulatory developments to find direction. Although they do not ensure a final approval or rejection, these deadlines act as decision points for the regulator, who may approve, reject, or extend its evaluation.

This procedure is particularly crucial for XRP due to its evolving regulatory status. Further developments within regulated investment frameworks could improve the asset’s standing in institutional portfolios, as it has already benefited from increased clarity in recent months.

Exchange-traded funds are where institutional capital enters the market. Through regulated financial instruments, they allow investors to gain exposure to digital assets without actually holding the underlying tokens. This structure reduces operational barriers by aligning cryptocurrency investments with traditional market systems.

If XRP-related ETF products receive approval or make notable advancements, they might attract new capital inflows. Price stability, liquidity, and long-term market confidence are often enhanced by increased institutional involvement.

There are several possible outcomes for the SEC’s decision-making process. An approval would indicate increasing regulatory acceptance and bolster bullish sentiment. Delays would increase uncertainty and maintain XRP’s range-bound structure.

A rejection might not change the long-term outlook, but it might create short-term downside pressure. The decision itself, as well as the overall liquidity conditions and investor sentiment, will determine how the market responds.

John Squire’s description of this event as a “decision day” illustrates the significance the market places on regulatory signals. Even neutral outcomes can cause volatility if they deviate from expectations. This deadline is a significant step in XRP’s integration into mainstream financial systems, even though it may not fully define the cryptocurrency’s future.

Facebook, Google Held Liable in First Social Media Addiction Lawsuit

Posted on by Olumide Adesina

A 20-year-old woman who claimed that her addiction to social media was a factor in her mental health problems was awarded damages by a jury that found Meta and Google liable. As the companies fight thousands of similar claims, this landmark decision could put them at grave risk

 

The Los Angeles verdict on Wednesday, the ninth day of jury deliberations, highlights the difficulty of determining how much social media is to blame for the varying degrees of distress that young people endure.

It also draws attention to the potential multibillion-dollar exposure from lawsuits claiming that YouTube, Instagram, and other platforms are intentionally designed to addict young users without taking into account their welfare.

Two more bellwether cases are scheduled to go to trial in California state court this year. The companies’ losses may spur settlement negotiations, which could lead to a comprehensive deal akin to those that hurt the tobacco and opioid industries.

The lawsuits, which are based on allegations of psychological distress, physical impairment, and suicide death, have been filed by children, adolescents, and young adults, sometimes through their parents, siblings, or other family members.

According to Eric Goldman, associate dean for research at Santa Clara University School of Law, who has taught and studied internet law for over 30 years, “it’s evident that juries are concerned.” They’re “willing to attach large damage awards.”.  The 12-person jury in the first case of its kind to go to trial determined that Meta and Google should have warned that their products might be hazardous for minors and were negligent in the way their platforms were designed and operated. Certain civil lawsuits do not require unanimous verdicts, unlike criminal cases.

The jurors found both companies liable by a vote of 10-2. The jury determined that Google owes $1.8 million and that Meta must pay $4.2 million to the plaintiff, Kaley GM. Kaley’s losses, including the cost of therapy, will be covered by half of each company’s payment; the other half will be used as punitive damages to deter future wrongdoing.

Mark Lanier, a Kaley attorney, had argued to the jury that they should take into account the enormous wealth of both businesses, emphasizing that even $1 billion in punitive damages would be insignificant.

Kaley blamed the platforms for several negative effects, including anxiety, depression, and body dysmorphia. She claimed to have started using the Instagram photo-sharing app at the age of nine and to have started watching YouTube at the age of six. Despite being present in the courtroom to hear the verdicts, she remained silent.

Disruptions in Strait of Hormuz Trigger Saudi Oil Sales Decline to Asia

Posted on by Olumide Adesina

Saudi Arabia’s oil sales to the two largest importers in Asia are expected to be lower than usual due to supply disruptions caused by the ongoing conflict in the Middle East.

 

Saudi Aramco, the world’s largest exporter, is scheduled to deliver roughly 40 million barrels of crude to clients in China in April. That is less than normal; in February, exports were recorded at 48 million barrels. Additionally, flows to Indian consumers are expected to decline.

The conflict between the United States, Israel, and Iran, which has been ongoing for almost a month, has completely disrupted the world oil market.

Crude prices have surged due to Tehran’s attacks on energy infrastructure throughout the region and the near-complete closure of the Strait of Hormuz, which connects the Persian Gulf to international markets, including the biggest economies in Asia.

Rob Kapito, president of BlackRock, cautioned on Thursday that investors might be underestimating the risks associated with the war, which are likely to hinder economic growth and increase inflation even in the event that the conflict ends soon. Saudi Aramco rerouted some crude supplies as a result of the disruption at Hormuz, sending part of the production via a pipeline across the Arabian Peninsula to the alternate port of Yanbu on its Red Sea coast.

The ambitious plan is merely a partial workaround, though. Yanbu can export about five million barrels every day. That is less than the 7.2 million barrels per day that were shipped the month before the war, mostly from Persian Gulf facilities.

According to the traders, Yanbu only offers Arab Light grade oil to Asian refiners. The traders, who requested anonymity due to the delicate nature of the situation, stated that India’s exports were scheduled at about 23 million barrels for the upcoming month. Additionally, that is marginally less than the recent Monday.

 

 

Ripple Torches 10 Million Tokens Amid Minting Surge

Posted on by Olumide Adesina

Ripple’s stablecoin treasury completed a massive 30 million RLUSD burn across two transactions after a week of aggressive supply management that saw 45 million tokens destroyed compared to just 10 million minted.

Over the past week, there has been a huge surge in activity in Ripple’s stablecoin treasury, characterized by several multi-million dollar token burns and sporadic minting.

The 10 million RLUSD burn today was actually the second significant supply reduction of the day, according to blockchain data identified by the automated tracker @RL_Tracker. The RLUSD Treasury has burned 45 million RLUSD over the past seven days while minting 10 million RLUSD.

“Burning” is not an indication of network trouble in the world of fully-backed fiat stablecoins, but rather a routine operational process. The corresponding stablecoins are sent to a “null” address (burned) to be permanently removed when institutional clients or partners exchange their RLUSD for underlying US dollars.

This guarantees that the fiat reserves kept in Ripple’s bank accounts always precisely match the circulating supply of RLUSD. On the other hand, when new money enters the ecosystem, Ripple must issue new tokens on the blockchain, which is known as the “minting spree” (such as the 10 million RLUSD created on March 19).

The substantial institutional redemptions or a deliberate rebalance of inventory by Ripple’s treasury department are suggested by the heavy burning observed on March 23, which totaled 30 million RLUSD in a single day. These significant advancements in on-chain supply are turning into a regular, but closely monitored, aspect of its lifecycle.

Gold’s Longest Losing Streak Hits High as Iran War Stokes Panic

Posted on by Olumide Adesina

The precious metal declined as investors weighed conflicting statements regarding the Middle East conflict, and the delay of US strikes on Iran’s energy infrastructure only offered a brief respite from the precious metal’s precipitous decline during the war.

Bullion lost as much as 1.8 percent during a volatile session that followed stocks and posted an inverse with oil after rising by nearly 1 percent earlier. US President Donald Trump announced a five-day postponement of the attacks he had threatened on Iranian power plants and said that “productive discussions” had taken place.

However, the Wall Street Journal stated that US allies in the Persian Gulf might become involved in the conflict, and an Iranian official ruled out negotiations. The conflict’s high energy prices have made investors give up their relatively profitable and liquid gold holdings in favor of other assets, which also raises the risk of inflation.

The outcome of any negotiations and future ship passage through the Strait of Hormuz remains uncertain despite Trump’s announcement of a pause. Rebuilding even the current energy infrastructure damage will take time. As a result, non-yielding precious metals continue to face the threat of inflation and the anticipation of rate increases by the US Federal Reserve and other central banks.

Ripple Torches 10 Million Tokens Amid Minting Surge

Posted on by Olumide Adesina

Ripple’s stablecoin treasury completed a massive 30 million RLUSD burn across two transactions after a week of aggressive supply management that saw 45 million tokens destroyed compared to just 10 million minted.

Over the past week, there has been a huge surge in activity in Ripple’s stablecoin treasury, characterized by several multi-million dollar token burns and sporadic minting.

The 10 million RLUSD burn today was actually the second significant supply reduction of the day, according to blockchain data identified by the automated tracker @RL_Tracker. The RLUSD Treasury has burned 45 million RLUSD over the past seven days while minting 10 million RLUSD.

“Burning” is not an indication of network trouble in the world of fully-backed fiat stablecoins, but rather a routine operational process. The corresponding stablecoins are sent to a “null” address (burned) to be permanently removed when institutional clients or partners exchange their RLUSD for underlying US dollars.

This guarantees that the fiat reserves kept in Ripple’s bank accounts always precisely match the circulating supply of RLUSD. On the other hand, when new money enters the ecosystem, Ripple must issue new tokens on the blockchain, which is known as the “minting spree” (such as the 10 million RLUSD created on March 19).

The substantial institutional redemptions or a deliberate rebalance of inventory by Ripple’s treasury department are suggested by the heavy burning observed on March 23, which totaled 30 million RLUSD in a single day. These significant advancements in on-chain supply are turning into a regular, but closely monitored, aspect of its lifecycle.