Sats & Gwei | FTX looses South Africa license | Modus luanches AI x blockchain Fund for sub-sahara Africa | Nestcoin declares FTXs impact on their operations | And more!

Bankless Africa presents Sats & Gwei, a podcast for your weekly crypto news update from all around Africa!

Besides losing its license as a Financial Services Provider in countries like South Africa, the FTX incident has left a mark on quite a number of crypto businesses. The CEO of Nestcoin announced the erasure of a significant portion of its operating capital with the collapse and for this reason will have to lay off some of its workforce. 

Still on the FTX subject, It would appear that FTX may have made an incorrect listing in its holdings which it recently filed bankruptcy for. AZA finance has challenged its inclusion in the FTX chapter 11 bankruptcy filing, terming it an “Erroneous Inclusion”. The CEO of AZA finance is currently taking active steps to correct these erroneous court filings. 

Efforts to advance cryptocurrency education as well as advocate for inclusion are still being made by organizations such as LBank and Crypto Bootcamp, with the aim of bringing these concepts closer to the grassroots in local communities in Africa. 

Quickly following up this piece is the news of the expansion of Ripple XRP into the African cross border space through its partnership with MSA Africa. Even more interesting is the effort of Modus to bridge the gap between artificial intelligence and blockchain technology through the very recent launch of its $75M fund. 

A quick note: Any organization or persons willing to hire any of the recently laid off Nestcoin employees can send an email to alumni-hiring@nestcoin.com for enquiries. 

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The bankless Africa show highlights projects, ecosystems and people making impact and driving crypto adoption across Africa. Get informed on all things bitcoin, Defi, NFTs, web3, and everything in-between.

Disclaimer:

None of what is shared in this show is financial advice. Only the opinions of the individuals that make this show possible. Remember to always do your own research. 

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