Latest African Crypto News: Nigerian crypto companies have set aside $20 million to help CBEX collapse in 2024, leaving casualties in web3 spaces in Nigeria and Kenya. The victim is estimated to have lost more than $800 million, making it the most impact in Nigeria. Meanwhile, Wiki Finance Expo will be set for Johannesburg on August 16th. Top crypto influencers and founders invited include Justin Son of Tron.
Nigerian crypto startups remain stable despite a tumultuous year in Africa’s largest market. This assessment is based on statistics related to funding crypto startups. Meanwhile, another “untruthful, the better” crypto platform has been unraveled, leaving potential victims behind. Finally, Wiki Finance Expo will be coming to South Africa in August 2025.
Explore these stories that shape the headlines of this week’s Continental Cryptography.
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Nigeria’s Crypto News: Web3 Company Raises $20 Million in 2024
VC Firm Hashed Emergent Report I’ll check The Nigerian blockchain startup raised at least $20 million in 2024. The report found that Nigeria accounts for around 3% of the world’s blockchain developers. Some of them contributed to the construction Top 1000X Crypto Projects of 2025.
This figure is robust for an industry that faced unprecedented regulatory oversight in 2024. The Nigerian blockchain scene closely monitored the movements by authorities following the public crackdown on vinance, raising concerns about the wider crackdown.
This amount is slightly lower than in 2023, but it reflects important research and innovation in this market. Nigeria offers significant untapped potential for crypto development as the largest crypto market on the continent.
Nigeria and Kenya Crypto News: CBEX Collapse Leaves Victims
The list of suspicious crypto platforms that have collapsed has grown dramatically over the past week. CBEX claims to be a crypto investment platform; It fell It was sunk with customer funds.
➥Reaction afterwards
The collapse led to widespread rage as long as customers in Ibadan and Kenya began looting Oke-Ado’s CBEX office.
Now people have decided to dig deeper for information about cbex
After that they noticed that CBEX was not registered pic.twitter.com/q1sciozium
– Invincible 
(@thee_invincible) April 16, 2025
The platform promises an astounding 100% return on investment each month, matching some performance Top Solanamime Coin With the last leg. This claim far outweighs the claims of legitimate investment platforms and could represent an unsustainable business model.
CBEX is currently facing allegations of operation as a Ponzi scheme. Historically, the Ponzi scheme uses new investors’ funds to lure users, leading to a lagpur in which the old investors pay until they reach critical mass, and the operator disappears with the user’s funds.
This model appears to be a CBEX story that affects users in Kenya and Nigeria. The collapse has added thousands of users to the unfortunate statistics of crypto fraud victims.
South African Crypto News: Wiki Finance Expo arrives in Johannesburg in August
Wiki Finance Expo will be like that held On August 16th, 2025, in Johannesburg, South Africa. Organizers have booked the Sandton Convention Centre for the event, with the aim of hosting the largest Web3 and Fintech events on the continent.
The event expects up to 10,000 attendees and brings together thousands of leaders from Web3, Fintech, AI, payment systems and related departments to share ideas with the network. Famous guests include Tron’s Justin Sun and Social Media Influencer Marionaufal.
(sauce)
Blockchain and FinTech Summit provide international startup opportunities to enter the growing African market and a platform for local entrepreneurs to showcase their ideas on the international stage.
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African Crypto News: Nigerian companies are thriving as CBEX collapses
- The Nigerian crypto company raised $20 million in 2024 despite regulatory challenges. Last year, Binance executives held domestically for several months.
- CBEX collapse exposes the risks of the Ponzi scheme. The company has promised a 100% monthly return. Unsustainable proposal
- The Wiki Finance Expo will be held in Johannesburg in mid-August. Justin San from Tron is one of the most popular guests invited
Africa’s Cryptography Week after Review: Nigerian crypto companies raised $20 million, and CBEX first appeared in 99 Bitcoin, leaving the exits in Kenya and Nigeria, South Africa.
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