Record funding by African standards
In the first six months of 22, African blockchain companies raised approximately $304 million, which is more than double from the full year 2022-23.
Cryptocurrency exchange KuCoin raised $150 million, Space Money within Africa, exchange Mara raised $23 million, Startup Jumbo raised $30 million and Startup Afriex $10 million.
Nigeria is actively promoting crypto, and the market crash had no effect on investor interest in the digital asset as if nothing had happened.
Too bad that interest is not heated by the most pleasant factors – lack of access to banking services for most of the population, rising inflation and devaluation.