The cohort marks Africa’s strongest showing yet — and comes as ecosystem grants increasingly serve as early-stage capital for blockchain startups navigating a tougher post-FTX funding climate.
Patricia’s move to convert customer funds mirrors FTX’s 2022 troubles, underscoring the risks of relying on centralized exchanges.
The CEO says a significant portion of the company’s assets are held at FTX and will now have to lay off some employees.
Documentation of the events around the failure of the cryptocurrency exchange FTX.
A representative of the company told Crypto Africa that FTX isn't a shareholder in BitPesa and its affiliated entities.
The crypto exchange has appointed a new CEO as it scrambles to repay creditors, customers and investors. The group of companies will continue to operate normally and pay creditors over time according to Chapter 11 of the United States Bankruptcy code.
This follows previous reports that FTX trades with users' funds.
At least nine leading exchanges have made commitments to publish their reserve certificates following the insolvency fears at FTX.
