Africa Crypto Week Review: Nigerian Firms Garner $20 Million as CBEX Fails in Kenya and Nigeria, South Africa Plans Major Crypto Event

In the latest Africa crypto news:

Nigerian crypto firms have successfully raised $20 million in 2024, while the collapse of CBEX has left numerous victims in Nigeria and Kenya’s web3 space. It is reported that victims collectively lost over $800 million, with Nigeria experiencing the most significant impact. Meanwhile, the Wiki Finance Expo is scheduled to take place in Johannesburg on August 16, featuring prominent crypto influencers such as Justin Sun from Tron.

Nigeria Crypto News: Web3 Firms Raise $20 Million in 2024

A report from VC firm Hashed Emergent confirms that blockchain startups in Nigeria secured over $20 million this year. This funding represents Nigeria’s significant contribution to global blockchain development amid strict regulatory scrutiny in 2024.

Nigeria and Kenya Crypto News: CBEX Collapse Leaves Victims

The list of questionable crypto platforms has grown following the dramatic failure of CBEX, which vanished with customer investments. Many customers in locations like Ibadan and Kenya resorted to looting the CBEX office out of frustration. It has since been revealed that the platform was operating without registration, leading many to suspect it was a Ponzi scheme.

South Africa Crypto News: Wiki Finance Expo Comes to Johannesburg in August

On August 16, 2025, Johannesburg will host the Wiki Finance Expo at the Sandton Convention Centre, expecting 10,000 attendees, including leaders from the Web3 and Fintech sectors. This event will provide ample networking opportunities and showcases for local entrepreneurs.

Key Highlights

Crypto firms in Nigeria raised $20M in 2024 despite regulatory hurdles.
The CBEX collapse has spotlighted Ponzi scheme risks, with claims of unsustainable profit promises.
The Wiki Finance Expo is set for Johannesburg, featuring high-profile guests like Justin Sun of Tron.

(Source: Wiki Expo)