Tag: ftx crash

Is the NFT Marketplace failing after a decade of success?

Africa's NFT market had a total revenue of $3420.4 million, according to Research and Markets. The global sales of NFT in...

Africa crypto industry players continue to crumble as The Bundle shuts down

Yele Badamosu, CEO of a VC firm and Director of Binance Labs developed the Bundle app in 2020. The Bundle teams announced...

Nasdaq halts its crypto custody services launch

Nasdaq, a global securities marketplace, is an international stock market index with a significant influence on the world's financial system. In 2022, Nasdaq...

Recurrent mistakes made by over 2350 dead crypto coins since 2013

Since 2013, at least 2,383 dead crypto coins have run their course. In 2018, Manish Ranjan created the Indian -based token...

Voyager Digital finally acquires funds to reimburse 35% of its former customers

Voyager Digital initially had various relations with the third largest crypto exchange owing Sam Bankman at least $75 million. The company will return about...

FTX Expansion into Africa: A new initiative to regain its former glory

As the FTX crypto exchange tries to recover from last year's crash, it has turned its attention towards Africa's crypto ecosystem. In search of more African crypto ambassadors, FTX is now targeting the high youth count within the continent. They stated that each student that referred their fellow peer to trade with the already bankrupt crypto exchange would receive a 40% commission. Some claim this is a strategic move from the former titan to gain momentum through African crypto traders. Others claim it is a mere act of desperation.

Chipper Cash forced to lay 12.5% of its staff

In 2021, Chipper Cash application had over 4 million active users across Kenya, Uganda, Rwanda, etc. Chipper Cash fired more than 12.5%...

Kraken crypto exchange fined US$30 million for violating crypto regulations

On February 9, the US SEC stated that Kraken had failed to register offer and sale of their crypto staking-as-a-service. The Kraken crypto...

South Africa’s Luno crypto exchange forced to cut of 35% of its staff to survive

Luno recently announced its plans to lay off 35% of its Workforce on the 1st of February. In 2020, DCG officially purchased...

Bankrupt crypto exchange platforms that intensified the 2022 crypto winter

The FDIC often ensures that if a bank falls, it can insure deposits allowing its users to access their funding. Unfortunately, bankrupt crypto...

Genesis joins the list of bankrupt crypto companies

The crypto lender Genesis initially started as a subsidiary of the Digital Currency Group by Barry Silbert in 2013. Genesis officially filed for...

Metropolitan Bank succumbs to crypto winter

Metropolitan Bank announced that it intends to end all crypto-related services due to the long-standing effects of the crypto winter The Metropolitan Commercial...

Solana plummets due to its association with FTX

When FTX was still at the top of its game, it amassed vast sums of  SOL(Solana). This boosted Solana's ratings and ecosystem significantly. ...

Crypto Industry gains additional enemies after FTX crash

According to Jon Tester, a US senator, since crypto s backed by nothing, it provides nothing; hence there is generally. 'no reason '...

Decentralized Finance surviving the crypto collapse

In Africa alone, millions of crypto traders have lost their hard-earned money. Its ripple effect has caused Africa's crypto adoption rate to regress...