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‘The ANC has to come apart’

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The politician waiting in a little nook of the higgledy-piggledy restaurant, a former fisherman’s cottage on the Atlantic coast just north of Cape Town, is known as South Africa’s “Iron Lady”. But the outfit Helen Zille is wearing, a flowery dress and a wide-brimmed sun hat with a chinstrap, makes her look more like Bo Peep. 

Despite her reputation for incendiary rhetoric, the woman praised by many for turning the Democratic Alliance (DA) into a serious political force — and criticised by some in the past for allegedly all but wrecking it — turns out to be warm and funny in person. Perhaps she has softened now that the DA is finally in power as part of the Government of National Unity. The grand coalition, of which the DA is a vital part, was formed in June after elections that pushed the African National Congress vote to below 50 per cent for the first time since it took office at the end of white rule in 1994. 

Zille has been called “crotchety”, “pugilistic” and — perhaps inevitably in such a charged political environment — “racist”. She doesn’t object to pugilistic. After all, her autobiography published in 2016 was titled Not Without a Fight and her notorious account on X (more of which later) proclaims her “GodZille”.

But she’s not happy with either crotchety or racist. “Crotchety is an old lady who’s frustrated and can’t get anything done,” she says, waving away the preposterous notion. “I-can-get-things-done,” she enunciates in schoolmarmy falsetto.

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As for racism, that is a lazy slur by opponents who refuse to engage with her intellectually. “I’m not being racist. I’m saying there’s a bad alignment between modern constitutional democracy and traditional systems,” she says of a 2012 confrontation with Jacob Zuma, then South Africa’s president in an era of rampant corruption. “In liberal systems, leaders are accountable to the people. In traditional systems, it’s the other way around.”

She had accused Zuma of placing himself above the law, a view later confirmed by the Constitutional Court, which in 2016 ordered him to repay state funds used to renovate his Nkandla homestead. “He said to me, ‘Helen, I was elected. These judges weren’t. How can they tell me what to do?’”

When she organised a protest march to Zuma’s sprawling compound in KwaZulu-Natal, many Zulu-speaking colleagues did not join “because they felt it was disrespectful,” she says. “People came out on the road in large numbers with traditional weapons, with spears, to stop us. I thought to myself, ‘Here we are trying to get accountability from a man who has spent tens of millions on his private house and he’s being defended by the poorest of the poor’.” 

By her own reckoning, she has been cancelled multiple times. The trick, she says, is “to un-cancel yourself”. 

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At 73, she has achieved precisely that by becoming, arguably, more influential than at any time during a long political career in which she ran first Cape Town as mayor and then the province of Western Cape as premier. 

Nowadays Zille is chair of the DA. Though she is not in government, her control of the party machinery makes her a key figure in the grand coalition with the ANC and eight other smaller parties. Partly because of the market-friendly stance of the DA, which traces its roots to the liberal, anti-racist Progressive party of the apartheid era, this alliance has led to a surge of optimism and investor interest that South Africa has not seen in years.

Zille, hot-headed according to her critics, is considered the one person who could break the government by withdrawing the DA’s support though, as she puts it, that is a “nuclear option” that you can only use once. It is quite a comeback for a politician who had all but retired from national politics a decade ago and whose return in 2019, when she was elected DA chair, prompted variations of the headline: “The Mummy Returns.”


Before we get into all this, we should order. It’s a glorious summer day, there’s a kitesurfing contest outside and Cape Town is “popping”, as Zille puts it. She had arrived an hour early to secure a quiet table inside and, when I get there, she is poring over a thick binder of documents. Here we won’t be disturbed by the rowdy, almost exclusively white, clientele swilling beer and wine outside. 

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The restaurant is my choice. Zille had given me three options, including a Cape Malay eatery in the hilly Bo-Kaap area of Cape Town and a “trendy” new place in Tamboerskloof. I had opted for Ons Huisie. “I haven’t been there for 15 years, so I cannot vouch for the current quality,” she had WhatsApped me. 

I suggest we share some oysters. We each order a glass of wine. Zille is driving but she says she’ll intersperse it with lots of water. The waitress recommends a bright “Bertha” Sauvignon Blanc. 

Zille takes a sip and pronounces it “OK,” puckering up her face in an expression that suggests otherwise. We both plonk ice cubes in our glass. In Cape Town, it’s quite a feat to order bad wine. 

Menu

Ons Huisie
Stadler Rd, Bloubergstrand, Cape Town 7441

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Oysters x 8 R200
Greek salad R92
Big bay calamari R78
Bertha Sauvignon Blanc x 3 R180
Ice-cream x 2 R40
Cappuccino R34
Double espresso R32
Coke Zero R29
Still water R40
Sub-total R725
Gratuity R150

Total R875 (£38.45)

Zille’s parents both came to South Africa after escaping Nazi Germany. Zille’s mother was classified as a Mischling or “half-breed” — “like a mule”, her teacher told the class — because her father was Jewish, and escaped with her family to Britain in 1939. As a German national, she was interned on the Isle of Man, but still became a life-long Anglophile and admirer of a system that had, she told her daughter, defended the individual against the state since the Magna Carta.

“Although the Magna Carta was only the noblemen saying the king’s not going to tell us what to do, it was still the start of a process saying, ‘Actually, we’ve got rights’,” Zille says. 

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Four oysters each arrive, beautifully presented on ice and lemon. They taste good. It’s the best part of the meal. 

Zille’s liberalism is central to her political identity, so I ask her to define it. “The core of the liberal idea is that the individual is the primary unit of value in a society, and that the role of the state is to protect people’s rights and freedoms,” she says without skipping a beat. 

Zille’s mother, who worked as a midwife after the war, moved to South Africa in 1948 where she met Zille’s father. He had delivered bread, worked at a dynamite factory, and finally joined the army. The couple moved to a corrugated iron house in Rivonia, then a village north of Johannesburg. Zille was born in 1951.

Zille’s parents despised the racist apartheid laws that seemed to them to repeat the horrors of Nazi Germany. Zille recalls her mother’s fury when the government stopped the school feeding programme for Black children. “I remember never being able to eat that piece of cheese with a clear conscience,” she says of the free meals in her own school where, though all the children were white, some came barefoot. 

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Zille had shoes, although initially her father, who had a scrap metal business, could not afford curtains. They spoke German at home until her younger sister became deaf and the family switched to English to assist her lip-reading. 

Zille had been a confident schoolgirl, but at the University of Cape Town she became dangerously anorexic. She blames an initiation ceremony called “the cattle parade” in which “freshettes” wore short skirts and paraded for the male students to bid on. “No carbs crossed my lips for two years,” she says, prising an oyster from its shell. 

When she returned home, weighing 83 pounds (37.6kg), her parents transferred her to the University of the Witwatersrand in Johannesburg. She gradually recovered, but her mother would later declare her “too sensitive to go into politics”, a judgment doubtless incomprehensible to many South Africans.

We order our main courses. Zille, who is speaking Xhosa to the waitress, asks for fried calamari, while I have swordfish.

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Zille was a journalist before she was a politician, joining the Rand Daily Mail, a campaigning newspaper eventually closed for its anti-apartheid views. She plunged into politics, travelling around the country with a Black photographer. She dictated her stories over a “tickey box”, a coin-operated public telephone, a discipline that helped her summarise complex topics quickly and that stood her in good stead for later parliamentary interventions.

In 1976 she covered the Soweto Uprising, when police killed hundreds of Black schoolchildren for protesting against being taught in Afrikaans. The following year, she helped uncover the murder in prison of Steve Biko, a Black Consciousness leader. The pathologist had told her that Biko, who was overweight, could not have died as the result of a hunger strike, the official story. 

The mains arrive. My swordfish is fishy for my taste, and the mash potatoes are watery and greenish. Zille’s calamari looks anaemic and though she picks at it dutifully, she later lets slip that it is not properly cooked. Fortunately, we are sharing a Greek salad, which tastes more or less like a Greek salad should. 

She quit the newspaper when her editor was fired and moved into public policy and eventually into politics. She became active in Black Sash, the anti-apartheid organisation founded by white women, for which her mother had volunteered. But when the first multi-party elections came in 1994, she did not vote for the ANC. “I realised the ANC could not bring a functional democracy to South Africa,” she says.

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We skip forward to Zille’s election as mayor of Cape Town in 2006, the first time the ANC had lost control of a big city. “I wasn’t expecting to be elected and I didn’t have a clue.” 

What she found appalled her. There was no organigram because the ANC made political appointments. There was little spending oversight, what she calls the corrupt culture of “Mr 10 per cent”.

The DA quickly won a reputation for honest, efficient government. Zille won the 2008 World Mayor Award. But she was accused of being more concerned about fixing potholes in posh white neighbourhoods than bringing justice to the sprawling slums. The DA stands accused of believing that the market will fix problems created by South Africa’s violent and repressive apartheid laws, which deliberately created a Black underclass. 

Even today, a visitor to Cape Town can’t help being shocked at the contrast between the Hollywood-style luxury in which many white people live and the grinding poverty endured by many Black people in cheek-by-jowl shacks. To this day, few Black South Africans vote for the DA, which they regard as an irredeemably white organisation. 

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Zille is adamant that the DA does more for Black South Africans than the ANC. “The most critical thing was to give people basic services, to make sure people had clean water, that they had sewerage and refuse removal,” she says. “There’s seven-and-a-half million personal taxpayers in South Africa, and there are 28mn grant recipients. That is the most important statistic to understand. So there are four grant recipients for every taxpayer. In Germany there are five taxpayers for every grant recipient. That’s the kind of ratio you can work with.”

Zille’s point is that there are limits to redistribution. The ANC promised everyone a free house, but Zille says they were often given to cronies. Even when poor people got homes, she says, they often rented them out, moving back into a shack. 

The DA advocates creating the conditions for economic growth, but critics say that shows a naive belief in markets to fix deep-rooted social and economic inequalities in which race is the key determinant. Zille opposes “Black empowerment”, an ANC policy to award contracts to Black businesses that she calls “a fig leaf for corruption”. 

Shouldn’t she take more account of the realities of South Africa’s racial divides? “You cannot possibly accept a system where the state legalises defining people in terms of their race and treating them differently on that basis,” she says. “That’s profoundly illiberal.” 

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Her outspokenness frequently gets her in hot water, especially when she tweets from the hip. In one of her most notorious posts, she wrote, “For those claiming legacy of colonialism was ONLY negative, think of our independent judiciary, transport infrastructure, piped water etc.” 

That led to calls of #ZilleMustFall. The Cape Argus declared that her “denial of the pain of billions of people globally . . . should be declared a crime against humanity”.

“I just put stuff out there that I felt was true,” she says, when I question the wisdom of such provocations. “There are always things you shouldn’t say, but then you have to think of the price of not saying them.”

Like the Harry Potter author JK Rowling, Zille has attacked “wokeism”. She accepts that “gender dysphoria exists”, but puts “the scale at which it is manifesting” down to what she calls “social contagion”. She also objects to the idea that everything must fall. “In South Africa, we have nascent institutions, and if they are immediately labelled legacies of colonialism and apartheid, well, what are you going to replace them with?” 

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The manager has heard that the calamari were undercooked and offers a replacement, perhaps a grilled halibut or some more oysters. Zille politely declines, but we each order vanilla ice-cream, mine with a double espresso and hers with a cappuccino. I tip my coffee on to the ice-cream to make an affogato.

Many consider Zille’s biggest failure her stalled attempt to bring Black leadership into the DA, which some blame for further alienation of Black voters. She identified three contenders, but fell out with each of them. The last, Mmusi Maimane, a free-market advocate whom she considered “the perfect package”, did replace her as party leader in 2015. But he was blamed for failing to push the DA’s vote above 22 per cent in the 2019 elections, and was replaced by John Steenhuisen, a white man. 

Steenhuisen is agriculture minister in the Government of National Unity, one of six cabinet positions the DA holds. Zille wanted nine and angered ANC negotiators with what they saw as her arrogant demands.  

South Africans wonder if the Government of National Unity can hold. Despite what her restraint with what she calls the “nuclear option”, Zille doesn’t take a soft line on power-sharing. She hopes the ANC will blow itself apart. 

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She draws a diagram showing the ANC splitting as members leave to join radical breakaways, Zuma’s uMkhonto weSizwe party and Julius Malema’s Economic Freedom Fighters. If more follow, it would leave the rump of the ANC, plus the DA, in the political centre. 

“My mission is to build a new non-racial majority that is committed to constitutionalism, the rule of law, the market economy and a social safety net. To do that, the ANC has to come apart.”

Zille drives me back to my hotel in her “granny car”, and I ask to hear a story from her autobiography when her vehicle was attacked one night. She told her husband shamefacedly that the bodywork might be dented. 

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“You’ve been shot at,” he said after discovering two bullet holes in the door. They had pierced the driver’s seat and hit Zille in the backside. Remarkably, she got away with bruising. “I knew you were thick-skinned,” her husband said. “But this is ridiculous.”

David Pilling is the FT’s Africa editor

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TRUMP and MELANIA cryptos spark controversy, Lightchain AI an option

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TRUMP and MELANIA cryptos spark controversy, Lightchain AI an option

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Lightchain AI emerges as an option amid the controversy surrounding TRUMP and MELANIA cryptocurrencies.

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The launch of cryptocurrencies by Donald Trump and Melania Trump has stirred controversy, fueling debates about their impact on the market.

Amid this turbulence, Lightchain AI stands out as a promising option for investors seeking innovation and reliability. The project, now in its presale phase at $0.005625 per token, has already secured $12.3 million, reflecting strong market confidence.

With its advanced blockchain framework and integration of artificial intelligence, Lightchain AI aims to offer a transformative solution in the ever-evolving cryptocurrency landscape.

Controversy surrounding Trump and Melania’s cryptos

President Donald Trump and First Lady Melania Trump launching TRUMP and MELANIA meme coins has sparked significant controversy. Ethics experts are voicing concerns over potential conflicts of interest, as Trump-associated organizations reportedly hold substantial stakes in these cryptocurrencies.

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Critics argue that the situation bears resemblance to a pump-and-dump scheme, where the value of the coins could be artificially inflated for profit.

The timing of the launch, coinciding with Trump’s entrance into the presidency, has intensified scrutiny regarding the propriety of using political popularity for monetary benefit.

Lightchain AI captures attention amid uncertainty

Amid market uncertainty, Lightchain AI emerges as a potentially stable option through its robust foundation, clear tokenomics, and transparent governance. 

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The tokenomics ensures sustainability and fair distribution, with a total supply capped at 10 billion LCAI tokens. Key allocations include 40% for presale, 28.5% for staking rewards, 15% for liquidity pools, and smaller portions for marketing, treasury, and team incentives. This strategic structure balances ecosystem growth and long-term value.

Low latency further enhances its appeal, aiming to make real-time AI applications seamless. Optimized workflows and parallelized processing will enable task completion with minimal delays, even under high computational demands.

Transparency and governance ensure community trust through decentralized decision-making. Token holders will vote on proposals, fostering accountability. Together, these elements make Lightchain AI a promising project.

Conclusion

Amid the chaos stirred by Trump and Melania’s cryptocurrency ventures, Lightchain AI is emerging as a beacon of potential stability. With cutting-edge technology, solid tokenomics, and transparent governance, it’s setting a new standard for sustainable cryptos.

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For more information on Lightchain AI, visit the website, whitepaper, X, or Telegram.

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

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Domino Effects: Insurance after LA fires, immigration enforcement, sober spirits | Wall Street Week

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This week, we look at the future of insurance in Los Angeles after devastating wildfires, President Trump’s economic argument for immigration enforcement, and the growing trend of non-alcoholic beer and spirits. We go to Davos for the annual World Economic Forum’s gathering of business and world leaders as they face a more insular and less collaborative world. (Source: Bloomberg)

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NYT Connections today — my hints and answers for Saturday, January 25 (game #594)

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NYT Connections today — my hints and answers for Tuesday, December 17 (game #555)

Good morning! Let’s play Connections, the NYT’s clever word game that challenges you to group answers in various categories. It can be tough, so read on if you need clues.

What should you do once you’ve finished? Why, play some more word games of course. I’ve also got daily Strands hints and answers and Quordle hints and answers articles if you need help for those too, while Marc’s Wordle today page covers the original viral word game.

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Early Ethereum ICO Investor Apes Into What Is Predicted To Be The Biggest Craze In 2025, Remittix! This Will Make Many Millionaires

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Early Ethereum ICO Investor Apes Into What Is Predicted To Be The Biggest Craze In 2025, Remittix! This Will Make Many Millionaires

An early Ethereum ICO investor is making waves by jumping into Remittix, a new project predicted to be the biggest craze of 2025! With huge potential and exciting features, Remittixis expected to make many millionaires. As interest grows, people are starting to see the power of this presale token. Let’s dive in and see why Remittix is getting so much attention and could change the game!

Ethereum Faces Price Decline Amid Market Struggles

As the market for more general cryptocurrencies suffers, Ethereum (ETH) is losing appeal. Its price just fell below $3,300 to show an investor’s negative attitude. Notwithstanding these difficulties, Ethereum’s future seems bright especially with the possible approval of Ethereum ETFs (Exchange-Traded Funds). Should accepted, these ETFs might pave the path for significant institutional investors, thus influencing Ethereum’s price in the next few years.

Ethereum is finding it difficult to sustain increasing momentum right now. Concerns among traders have resulted from its inability to remain above highs over $3,400. Reduced demand from long-term holders and less money entering Ethereum-based investment products are mostly responsible for this price decline. Now testing important support levels, Ethereum may suffer further losses if it falls short of staying above current levels.

For Ethereum’s long-term future, there is still hope however. The acceptance of Ethereum ETFs might result in major institutional investment, thereby probably raising Ethereum’s value. Analysts believe that, particularly as more investors get engaged, if institutional access improves, Ethereum’s price will be soaring once again..

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Moreover, even if Ethereum is having temporary difficulties, the possible approval of Ethereum ETFs might act as a spark for next expansion. Investors should monitor these events as they could affect Ethereum’s performance in the next months and years.

RTX Set to Surge Higher in the 2025 Bull Run

If you’re looking for a promising cryptocurrency to invest in, RTX might be the one to watch. RTX is growing more and more popular as the world of cryptocurrencies expands as it can address important issues in the $180 trillion cross-border payment sector. This industry which handles international money transfers may be delayed and expensive. Remittix seeks to transform that by means of quicker, less expensive, more safe payments made utilizing blockchain technology.

Users of the Remittix platform may transfer money straight to bank accounts anywhere in the globe. With quick transfers free of hidden costs, it turns over more than forty different cryptocurrencies into fiat money akin to dollars or euros. Remittix is therefore a more reasonably priced choice than conventional banking systems. Using the Remittix Pay API, companies may also take bitcoin payments and convert them into fiat, therefore giving a straightforward approach for managing digital assets.

Remittix’s $RTX coin forms its central focus. Staking, governing and getting platform incentives all depend on this coin. RTX’s restricted overall supply of roughly 1.5 billion increases to its demand and exclusivity. At its current stage of presale phase, the RTX token is now valued at $0.0297, which presents a fantastic investment chance. Experts estimate that the coin may rise 25x during the presale and witness above 1,500% increases after official release.

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For anyone looking to invest in the best coins to buy now or the best coin to invest today, RTX offers a solid option. Expected to explode in value during the 2025 bull run is its creative answer to a significant worldwide problem.

Discover the future of PayFi with Remittix by checking out their presale here:

Website:https://remittix.io/

Socials: https://linktr.ee/remittix

Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice. 

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TRUMP, DOGE, BONK ETF approvals likely, but Cathie Wood won’t invest: Finance Redefined

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ARK Invest’s Cathie Wood said she won’t buy the Trump token due to its lack of utility, as she remains focused on Bitcoin, Ether and Solana.

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Trump won’t deliver on maximum tariff pledges, says his former commerce secretary—merely making the threat is enough

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EXCLUSIVE: Wilbur Ross, who served as commerce secretary in Trump’s first cabinet, said the president will not have to follow through on tariff threats. Read More

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OpenAI’s Project Stargate sparks reactions from Microsoft, Meta CEOs

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OpenAI’s Project Stargate sparks reactions from Microsoft, Meta CEOs

“All I know is I’m good for my $80 billion.”

Rarely does a one-liner so perfectly capture the state of the moment. Here, you have Microsoft CEO Satya Nadella saying he’s “not in the details” about Stargate, the supposedly multi-hundred-billion AI infrastructure project driven by his marquee investment, OpenAI.

Nadella not being read in on the nebulous details of Stargate says a lot about how much Microsoft and OpenAI have drifted apart. Microsoft is mentioned in the Stargate press release since OpenAI’s models are still exclusive to Azure. But the most striking aspect of Stargate is not that the money isn’t there for it yet; it’s that OpenAI’s biggest backer has decided to not participate in what Sam Altman is calling “the most important project of this era.” As Nadella made clear on CNBC this week, he’s running his own, $80 billion AI infrastructure buildout and, going forward, OpenAI can get additional compute — with his blessing — elsewhere. 

While it received fewer headlines this week, I found Nadella’s response to Elon Musk on X even more illuminating. In his response to Musk saying, “on the other hand, Satya definitely does have the money,” Nadella responded: “😂 And all this money is not about hyping AI, but is about building useful things for the real world!” 

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That post can only be interpreted as a dig at Altman. Nadella could have funded Stargate for OpenAI. He didn’t. What does he know that the rest of us don’t?

The splashy Stargate unveiling at the White House certainly accomplished its goal, which was clearly getting everyone to talk about big numbers. The headlines it generated prompted Mark Zuckerberg to make sure everyone ended the week knowing his data center will be even bigger than Stargate.

In a Friday post on his Facebook page, Zuckerberg said that Meta’s planned 2GW data center in Louisiana “is so large it would cover a significant part of Manhattan,” with a map view of the square footage overlaid on the city to send the point home. 

From his post (my emphasis added): “We’ll bring online ~1GW of compute in ‘25 and we’ll end the year with more than 1.3 million GPUs. We’re planning to invest $60-65B in capex this year while also growing our AI teams significantly, and we have the capital to continue investing in the years ahead.”

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I have no doubt that Altman, Masayoshi Son, and Larry Ellison will be able to raise the billions they need to lessen OpenAI’s dependence on Microsoft for compute. (The US government isn’t giving money to Stargate, which makes the optics of announcing it alongside Trump all the more bizarre.) Ultimately, this all points to the theme that is quickly coming to define 2025: Big Tech sees AI as the most existential technology of the coming era and will keep spending like hell to make sure OpenAI doesn’t completely run away with it.

Steve Huffman,
Illustration by William Joel / The Verge | Photo by Greg Doherty/Variety via Getty Images

AMA with spez

Few companies had as good of a 2024 as Reddit. Since going public last March, the company’s stock has soared 300 percent, giving the social network a valuation of $32 billion.

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It’s an about-face from where Reddit was before going public, when its moderators were raging against its hurried platform changes and there was backlash to the company selling its data to Google and OpenAI.

With those controversies now seemingly in the rear-view mirror, Reddit is focused on growing its user base, staying profitable, and using AI to help people search its site more easily. I caught up with CEO Steve Huffman at CES a few weeks ago to hear his priorities for 2025, how he’s leading Reddit, his thoughts on the AI scaling debate, content moderation, and more…

The following interview has been edited for length and clarity:

Your IPO did very well. What have the last nine months or so been like for you personally?

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We have a saying at Reddit that good numbers make good meetings. So we’ve had some good meetings.

Preparing to go public was intense. It’s telling the story over and over and over, which I enjoy doing, but it’s a lot of work. I think more than most new companies, we are in the public company rhythm already: close the quarter, do the audits, do the board meeting, earnings, and all of that. So it hasn’t been a major change for us from an operating point of view.

It’s a really exciting time for the new investors and employees. You won’t catch us complaining. What I keep telling the company is that everyone should be very proud of the work they’ve done and don’t take these moments for granted. I just tell them, look, enjoy the view. If you look at our history, there are lots of ups and downs. No doubt there are challenges in our future.

With your market cap where it is now, are you thinking of making swings you didn’t think you could make a year ago?

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There are two classes of things that we would do. One is to execute the core strategy. We’ve got to hire. We’ve got to build. I think we’re very reasonable in terms of our investment size. The one sentence strategy for us is to grow the product and stay profitable. 

What can you do with a high stock price? Maybe you can look at M&A that you wouldn’t otherwise. I’d say that’s not really our orientation right now because the acquisitions we’ve done over the last two years have been these 25-to-50-million-dollar deals. It’s kind of a sweet spot for us to get tech and teams. I’d say we’re always watching the market, but we’re not pursuing anything big or crazy right now because I like the core strategy. I think we can do what we want to do within our current capabilities.

What’s the main product focus for Reddit this year? 

The first is the core of Reddit, which is community conversations. Everyone has a home on Reddit, but do you see that home in your first session? There’s a whole other dimension to our work, which is Reddit as an information source. Reddit has all of this incredible information. For the users who have a question that needs an answer, can we give them that answer? We just got into testing Reddit Answers. I’m finding that really helpful for searches about current events. A year from now, it’s a monetization product. It’s one of the few products where it kind of scratches every itch, so it’ll be a big focus. 

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What do you make of this debate about whether the AI industry has run out of data?

I think we’d have a different answer to that question literally every month. We want to have good relationships with other people in this space. We’re open for business.

At the same time, we want to maximize the value we get out of our own data. We have not experienced conflict between the two at this point. I love the [data licensing] relationships we have — the major ones being Google and OpenAI. At this point, we don’t need to make any particular partnership. I’d say they’re all nice to have but nothing is existential for us. 

One of the challenges is that the AI companies don’t know what product they’re building. It’s not a bad thing. They are iterating themselves. ChatGPT itself, the central product in this conversation, was a demo. Then, a year later, it’s the most important piece of enterprise technology on Earth with questionable economics. That makes it very exciting. I don’t think any of these companies would be offended to hear me say that. 

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You were one of the first social media CEOs I saw to be very critical of TikTok. How does a US ban affect Reddit?

If you look at Reddit’s traffic graph over the last 19 years, you will not see the rise and fall of any particular platform. I think every content type should work on Reddit. Video on Reddit is largely camera-out — what I’m looking at — as opposed to camera-in, or who am I? That’s social media. I think the ban is the right thing to do for reasons I’ve mentioned that honestly have nothing to do with competition. 

With Meta’s moderation changes, the broader conversation around social media feels like it’s changing right now. 

For the last 10 years, people have been talking about whether speech is the problem,  which is a crazy thought. You can’t have freedom without speech. I think that detour through questioning and relitigating core values of America, hopefully that era is coming to a close.

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Are people playing politics? Of course, people always are. On the topic of moderation, we always just try to do things the right way, which, not coincidentally, are aligned with American values. It’s a Democratic platform. We believe very much in the power of people and the wisdom of crowds and voting processes. That is Reddit. So I’m glad to see a return to where we have been most of my life, which is an appreciation for free speech. 

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UnitedHealth confirms 190 million Americans affected by Change Healthcare data breach

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Pages from the United Healthcare website are seen on a computer screen

UnitedHealth has confirmed the ransomware attack on its Change Healthcare unit last February affected around 190 million people in America — nearly double previous estimates.

The U.S. health insurance giant confirmed the latest number to TechCrunch on Friday after the markets closed.

“Change Healthcare has determined the estimated total number of individuals impacted by the Change Healthcare cyberattack is approximately 190 million,” said Tyler Mason, a spokesperson for UnitedHealth Group in an email to TechCrunch. “The vast majority of those people have already been provided individual or substitute notice. The final number will be confirmed and filed with the Office for Civil Rights at a later date.” 

UnitedHealth’s spokesperson said the company was “not aware of any misuse of individuals’ information as a result of this incident and has not seen electronic medical record databases appear in the data during the analysis.” 

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The February 2024 cyberattack is the largest breach of medical data in U.S. history and caused months of outages across the U.S. healthcare system. Change Healthcare, a health tech giant and UnitedHealth subsidiary, is one of the largest handlers of health, medical data, and patient records; it’s also one of the biggest processors of healthcare claims in the United States.

The data breach resulted in the theft of massive quantities of health and insurance-related information, some of which was published online by the hackers who claimed responsibility for the breach. Change Healthcare subsequently paid at least two ransoms to prevent further publication of the stolen files.

UnitedHealth previously put the number of affected individuals at around 100 million people when the company filed its preliminary analysis with the Office for Civil Rights, the unit under the U.S. Department of Health and Human Services that investigates data breaches.

In its data breach notice, Change Healthcare said that the cybercriminals stole names and addresses, dates of birth, phone numbers, email addresses, and government identity documents, which included Social Security numbers, driver’s license numbers, and passport numbers. The stolen health data also includes diagnoses, medications, test results, imaging, and care and treatment plans, as well as health insurance information. Change said the data also includes financial and banking information found in patient claims.

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The breach was attributed to the ALPHV ransomware gang, a prolific Russian language cybercrime group. According to testimony by UnitedHealth Group’s CEO Andrew Witty to lawmakers last year, the hackers broke into Change’s systems using a stolen account credential, which was not protected with multi-factor authentication.

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Who owns the most XRP? Top XRP holders and ownership distribution explained

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Who owns the most XRP? Top XRP holders and ownership distribution explained

Ripple’s XRP token, one of the most popular cryptocurrencies in the world, has surged close to 600% in the last 3 months. With such a wild increase, it is important to address the following question: Who owns the most Ripple (XRP)?

You see, a token’s distribution has to be diverse, as concentration means that the majority holder of the token can heavily manipulate the price at any major buy or sell position. Understanding who holds the most XRP can be key for investors to make a long-term buying or selling decision about this popular cryptocurrency. 

In this article, we’ll provide an overview of the number of XRP holders, the token holder distribution, and the possible impacts of this ownership in the future.

Overview of XRP holders

Ripple Labs, the creator of the XRP token, is reported to hold the largest share of the token’s supply, amounting to 46 billion XRP. Also, Chris Larsen, the co-founder of Ripple Labs, reportedly holds 5 billion XRP. Major cryptocurrency exchanges also hold a substantial amount of XRP, with Binance holding 1.83 billion tokens.

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As of January 24, 2025, XRP is trading at approximately $3.16 per token. The cryptocurrency has experienced an intraday high of $3.18 and a low of $3.04. The 24-hour trading volume stands at $8.2 billion, contributing to a market capitalization of around $182 billion.

Who owns the most XRP? - 1

XRP 1D chart | Source: crypto.news

How many people own XRP?

Due to the anonymous nature of cryptocurrency transactions on the blockchain network, it is almost impossible to calculate the number of XRP holders. However, it is possible to track the multiple wallet addresses that hold this token. 

According to the latest data collected by Bithomp, there are approximately 6,032,259 active XRP account holders who hold a total of 99,986,575,397 XRP. While these numbers provide an estimate of XRP holders, the actual number may be different, as many users may hold multiple wallets, and some wallets will also belong to many crypto exchanges. 

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Top XRP holders

According to the latest data from Coincarp, 41.04% of the XRP token supply is held by the top 10 wallets. Meanwhile, the top 20 holders own 50.30% of the total supply, and if we talk about the top 50 and top 100, they hold 63.71% and 71.74% of the total supply.

As for centralized crypto exchanges, Upbit is the leader among XRP owners, with 4.37% of the total supply, followed by Binance with 1.31%, Bitbank with 0.58%, and Korbit with 0.12%. 

Distribution of XRP among holders

If we look at the distribution among XRP owners, we can see that wallets in the range of 1 million to 10 million XRP account for 6.42% of the total XRP supply. Following this, wallets between 100,000 to 1 million XRP hold 11.14%, and smaller XRP holders with 1000 to 100000 XRP own 7.53% of the total supply. Meanwhile, holders with 1000 or fewer XRP tokens make up a small percentage of the total XRP token supply, highlighting the dominance of larger accounts in this token.

Ripple Labs and XRP ownership

Founded in 2012, Ripple Labs is the creator of XRP, a company that focuses on real-time payment solutions. Its primary offering is known as RippleNet, a technology used by major institutions for cross-border payments. While Ripple Labs does hold the largest share of XRP tokens, amounting to 46 billion XRP tokens, most of it is locked in escrow with scheduled releases to manage token supply effectively.

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This major ownership does promote the ecosystem’s growth, but it also points to the centralization of the token’s supply, which goes against the core principles of blockchain technology.

The impact of XRP ownership distribution

As mentioned above, a few entities hold a significant portion of the XRP token supply, with the top 20 holders collectively controlling 50.53% of the total supply. While it is common for many cryptocurrencies which are in their early stages to have a concentrated supply among a small number of holders, it is not good in the long run especially when it comes to price stability and market behaviour.

If major holders were to sell off their XRP holdings in a small amount of time it can drastically affect the token’s price, and more importantly, it can dent the project’s reputation forever. It is advisable to do your research before investing in any token and take a look at its tokenomics, total supply, and the convention of token holders as well.

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New AI & Gaming Meme Coin Presale Just Launched

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New AI & Gaming Meme Coin Presale Just Launched

[PRESS RELEASE – New York, United States, January 24th, 2025]

BullFWOG ($BFWOG), a newly launched meme coin, has announced its presale as part of a broader ecosystem incorporating gaming, AI integration, and multimedia initiatives.

BullFWOG Integrates Gaming, AI, and Meme culture

BullFWOG differentiates itself within the meme coin sector by integrating a suite of features currently under development. The BullFWOG ecosystem will include Play-to-Earn (P2E) and Player-vs-Player (PvP) mini-games, an interactive Spin the Wheel feature, and AI-powered functionalities. The gaming component will allow players to use $BFWOG tokens to participate in fast-paced tournaments, head-to-head battles, and other activities with the opportunity to earn rewards and win prizes.

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Presale with Dynamic Pricing to Incentivize Early Participation

The meme coin sector has seen significant activity, with some projects gaining substantial traction due to community engagement and market interest. Early-stage participation in such projects often attracts attention from market participants looking for emerging trends within the cryptocurrency space. BullFWOG ($BFWOG), currently in its presale phase, has adopted a dynamic pricing model where the token price increases periodically. According to the team, this structure incentivizes early participation and is designed to support the token’s ecosystem development. The initial presale price of $BFWOG is set at 0.000020 SOL however it will not remain at this price for long before the first periodic increase. Early participation is advised.

BullFWOG Gaming Ecosystem

BullFWOG will serve as the central character in its gaming ecosystem, which will also feature familiar meme characters. The platform will include a variety of mini-games, where players can potentially earn $BFWOG tokens through gameplay and wager tokens in Player-vs-Player (PvP) battles. The ecosystem will also introduce fast-paced tournaments accommodating up to 1,000 players simultaneously. These tournaments will allow participants to enter with small wagers for a chance to compete for significant prize pools.

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Additionally, players can accumulate $BFWOG tokens to get tickets for the Spin the Wheel feature, which offers opportunities to win rewards, including USDT and BTC prizes. According to the team, early backers participating in the presale will have the opportunity to obtain the first tickets to this feature.

AI Integration

The BullFWOG project plans to integrate artificial intelligence (AI) across multiple aspects of its ecosystem. According to the team, AI will be utilized in game development, chatbots, game dynamics, and user engagement. Additionally, AI-driven automation will be applied to manage social media activity, generating and posting content, such as viral memes, around the clock to enhance project visibility and audience reach.

The team highlights that leveraging AI in this manner aims to streamline marketing efforts, increase efficiency, and drive broader community awareness.

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The Ribbit Song

As part of its broader ecosystem development and marketing efforts, BullFWOG has released an original meme-themed song titled Ribbit. The track and video were developed using AI and is now available on major streaming platforms, including Spotify, Apple Music, YouTube Music, and Deezer. In addition, the team has produced an accompanying music video, which can be viewed on YouTube.

This initiative highlights the project’s focus on multimedia engagement, aiming to enhance its visibility and community connection through creative efforts.

Click here to watch Ribbit on Youtube

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About BullFWOG ($BFWOG)

The mission is to create a decentralised, community driven platform where users can enjoy engaging games, win crypto currency, earn rewards and participate in a thriving ecosystem. $BFWOG aims to be the go-to token for meme enthusiasts and gamers alike, fostering a strong sense of community and belonging with plenty of fun. Its also one of the first memes to have its own AI developed theme tune on all the big streaming platforms.

Users can join the presale here: https://bullfwog.com

X: @thebullfwog

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Telegram: @bullfwogcoin

Website: https://bullfwog.com

Interested users can listen to the song on all major streaming services including:

SpotifyApple MusicAmazon Music and more

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