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01Dec/22

FTX collapse crushes crypto dreams in Africa and beyond

  • FTX’s bankruptcy hurts small investors across the world
  • Young African crypto backers fret about damage to sector
  • Regulators repeat warnings about risks of crypto dealing

LAGOS/BANGKOK – Days before his FTX cryptocurrency exchange collapsed, co-founder Sam Bankman-Fried tweeted “Hello, West Africa!” – his latest nod to a region where a growing number of kitchen table investors had put their faith, and savings, in FTX.
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