{"id":22819,"date":"2025-04-19T11:31:57","date_gmt":"2025-04-19T11:31:57","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=22819"},"modified":"2025-04-19T11:31:57","modified_gmt":"2025-04-19T11:31:57","slug":"africa-crypto-week-in-review-nigeria-crypto-firms-raise-20-million-cbex-exits-in-kenya-and-nigeria-south-africa-to-host-crypto-event","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=22819","title":{"rendered":"Africa Crypto Week in Review: Nigeria Crypto Firms Raise $20 Million, CBEX Exits In Kenya and Nigeria, South Africa To Host Crypto Event"},"content":{"rendered":"<div>\n<p><em>In the latest Africa crypto news: Nigerian crypto firms secure $20M in 2024 as CBEX collapses leave victims in the Nigerian and Kenyan web3 space. It is estimated that victims lost over $800 million, with the most impact felt in Nigeria. Meanwhile, the Wiki Finance Expo is set for Johannesburg on August 16. Some top crypto influencers and founders invited include Justin Sun of Tron.<\/em><\/p>\n<p><span data-preserver-spaces=\"true\">Nigerian crypto startups are holding steady despite a turbulent year in Africa\u2019s largest market. This assessment is based on statistics related to funding for crypto startups. Meanwhile, another \u201ctoo good to be true\u201d crypto platform has unraveled, leaving potential victims in its wake. Finally, the Wiki Finance Expo is coming to South Africa in August 2025.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Let\u2019s explore these stories shaping the continental crypto headlines for the week.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/new-cryptocurrency\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Best New Cryptocurrencies to Invest in 2025<\/span><\/a><\/strong><\/p>\n<h2><strong><span data-preserver-spaces=\"true\">Nigeria Crypto News: Web3 Firms Raise $20 Million in 2024<\/span><\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">A report by VC firm Hashed Emergent <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.mariblock.com\/nigerian-blockchain-startups-raised-20m-in-2024-claims-3-of-global-developers-report\/\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">confirms<\/span><\/a><span data-preserver-spaces=\"true\"> that blockchain startups in Nigeria raised at least $20 million in 2024. The report found that Nigeria accounts for approximately 3% of global blockchain developers. Some of them contributed to building the <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-1000x-crypto\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">top 1000X crypto projects in 2025<\/span><\/a><span data-preserver-spaces=\"true\">.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">This figure is robust for an industry that faced unprecedented regulatory scrutiny in 2024. The Nigeria blockchain scene closely monitored moves by authorities following a public crackdown on Binance, which sparked concerns about a broader crackdown.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The amount is slightly lower than in 2023 but still reflects significant research and innovation in this market. As the largest crypto market on the continent, Nigeria offers substantial untapped potential for crypto development.<\/span><\/p>\n<h2><strong><span data-preserver-spaces=\"true\">Nigeria and Kenya Crypto News: CBEX Collapse Leaves Victims<\/span><\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">The list of dubious crypto platforms that collapsed dramatically grew longer this past week. CBEX, which claimed to be a crypto investment platform, <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/thenationonlineng.net\/cbex-key-things-to-know-about-collapsed-online-trading-platform\/\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">collapsed<\/span><\/a><span data-preserver-spaces=\"true\"> and sank with customer funds.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\u27a5 Aftermath and Reactions<\/p>\n<p>The collapse led to widespread outrage, to the extent that customers in Ibadan &amp; Kenya started looting from the CBEX office in Oke-Ado<\/p>\n<p>Now people decided to dig deep for information on CBEX <\/p>\n<p>After which they realized CBEX wasn&#8217;t registered <a href=\"https:\/\/t.co\/q1scIOZIUM\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/q1scIOZIUM<\/a><\/p>\n<p>\u2014 Invincible <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/72x72\/2604.png\" alt=\"\u2604\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> (@Thee_invincible) <a href=\"https:\/\/twitter.com\/Thee_invincible\/status\/1912335707152003082?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">April 16, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-preserver-spaces=\"true\">The platform promised an astonishing 100% return on investment each month, matching the performance of some of the <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-solana-meme-coins\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">top Solana meme coins<\/span><\/a><span data-preserver-spaces=\"true\"> in the last leg up. This claim far exceeds those of legitimate investment platforms and is likely indicative of an unsustainable business model.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">CBEX now faces allegations of operating as a Ponzi scheme. Historically, Ponzi schemes lure users by using funds from new investors to pay older ones until they reach a critical mass, leading to a rug pull where the operators disappear with users\u2019 funds.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">This model appears to be CBEX\u2019s story, affecting users in Kenya and Nigeria. The collapse has added thousands of users to the unfortunate statistics of crypto fraud victims.<\/span><\/p>\n<h2><strong><span data-preserver-spaces=\"true\">South Africa Crypto News: Wiki Finance Expo Comes to Johannesburg in August<\/span><\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">The Wiki Finance Expo will be <\/span><span data-preserver-spaces=\"true\">held<\/span><span data-preserver-spaces=\"true\"> in Johannesburg, South Africa, on August 16, 2025. Organizers have booked the Sandton Convention Centre for the event, aiming to host the largest Web3 and Fintech event on the continent.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The event expects up to 10,000 participants and will bring together thousands of leaders in Web3, Fintech, AI, payment systems, and related sectors to network and share ideas. High-profile guests include Justin Sun of Tron and social media influencer Mario Nawfal.<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-full wp-image-227178\" src=\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/04\/Screenshot-2025-04-18T110825.265.png\" alt=\"\" width=\"1494\" height=\"459\" srcset=\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/04\/Screenshot-2025-04-18T110825.265.png 1494w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/04\/Screenshot-2025-04-18T110825.265-300x92.png 300w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/04\/Screenshot-2025-04-18T110825.265-1024x315.png 1024w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/04\/Screenshot-2025-04-18T110825.265-768x236.png 768w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/04\/Screenshot-2025-04-18T110825.265-50x15.png 50w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/04\/Screenshot-2025-04-18T110825.265-308x95.png 308w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/04\/Screenshot-2025-04-18T110825.265-350x108.png 350w\" sizes=\"(max-width: 1494px) 100vw, 1494px\"><\/p>\n<p><strong>(<a class=\"general-link\" href=\"https:\/\/www.wikiexpo.com\/Africa\/2025\/en\/index.html?c=mLf3e1fN\" target=\"_blank\" rel=\"noopener nofollow\">Source<\/a>)<\/strong><\/p>\n<p><span data-preserver-spaces=\"true\">Blockchain and Fintech summits offer international startups opportunities to enter the growing African market and provide a platform for local entrepreneurs to showcase their ideas on an international stage.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">DISCOVER:<\/span><\/strong> <a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-crypto-to-explode\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">16 Next Crypto to Explode in 2025: Expert Cryptocurrency Predictions &amp; Analysis<\/span><\/a><\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h3 class=\"nnbtc-key-takeaways__title\">Africa Crypto News: Nigeria Firms Thriving As CBEX Collapses<\/h3>\n<ul class=\"nnbtc-key-takeaways__list\">\n<li class=\"nnbtc-key-takeaways__list-item\">\n         <span data-preserver-spaces=\"true\">Crypto firms in Nigeria raised $20M in 2024 despite regulatory challenges. Last year, Binance executives were held for months in the country<\/span><span data-preserver-spaces=\"true\">\u00a0<\/span>    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n         <span data-preserver-spaces=\"true\">CBEX collapse exposes Ponzi scheme risks. The firm promised a 100% monthly return; an unsustainable proposition <\/span>    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n         <span data-preserver-spaces=\"true\">The Wiki Finance Expo will be held in Johannesburg in mid-August. Justin Sun of Tron is among the high-profile guests invited<\/span><span data-preserver-spaces=\"true\">\u00a0<\/span>    <\/li>\n<\/ul><\/div>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/africa-crypto-week-in-review-nigeria-crypto-firms-raise-20-million-cbex-exits-in-kenya-and-nigeria-south-africa-to-host-crypto-event\/\">Africa Crypto Week in Review: Nigeria Crypto Firms Raise $20 Million, CBEX Exits In Kenya and Nigeria, South Africa To Host Crypto Event<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In the latest Africa crypto news: Nigerian crypto firms secure $20M in 2024 as CBEX collapses leave victims in the Nigerian and Kenyan web3 space. It is estimated that victims lost over $800 million, with the most impact felt in Nigeria. Meanwhile, the Wiki Finance Expo is set for Johannesburg on August 16. Some top [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-22819","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/22819","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22819"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/22819\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22819"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22819"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}