FTX in Africa (2)

Multiple possible impacts of the presence of FTX in Africa.

FTX in Africa: an aggressive ground game (tweet capture)
FTX also had an aggressive ground game in rural Africa and huge investments in African Fintech. They were onboardin like crazy in places that didn’t have stable banking access. I can’t imagine how some of these people are feeling right now. Devastating.

The fallout from this will impact things in places and ways we cannot grasp right now.

FTX activities on the ground:

FTX was not only an exchange but they were building infrastructure that provided groundwork for mass adoption, unboarding unbanked in Africa, offering payment on and off ramp, as well as custodial wallets and credit cards.

“I was a campus ambassador in Nigeria. We were doing crazy work in Nigerian universities and towns as regarding crypto education and web3 onboarding, all sponsored by FTX. I wouldn’t even mention the amazing impact of FTTDAO.”

Some Fintech startups might be at risk, such as ChipperCash, after it received a $150M extension round led by FTX ($2B valuation).
Other names are circulating (to be verified): Kuda, Piggyvest etc.
Some of them may have funds stuck with FTX as they held deposits there…

Update: ChipperCash denied having funds locked due to FTX bankruptcy.