FTX’s Collapse Has Sent Shivers Down the Spine of Africa’s Crypto Community
Sam Bankman-Fried has quickly become a persona non grata everywhere, including in Africa. Once hailed as a crypto guru, the collapse of his FTX exchange platform has sent shockwaves round the world, taking with it billions of investors’ money. Even as he continues to thread tweets with apologetic overtones, Africans are taking stock of their own losses.
Crypto enthusiasts who traded different coins on FTX-linked platforms have been unable to withdraw their investments while crypto startups are facing their own losses.
Source: Quartz (link opens in a new window)