Author: Louis Dike

The Ethereum Foundation (EF), the nonprofit organization that supports the development and stewardship of the Ethereum blockchain, has announced a significant restructuring that includes laying off 54 employees—roughly 20% of its workforce—as it seeks to become leaner and more focused on Ethereum’s long-term priorities. The move concludes a months-long reorganization tied to the implementation of the Foundation’s updated mandate and treasury management strategy. According to the Foundation, the restructuring is intended to improve execution and ensure resources are concentrated on the most critical work required to support Ethereum’s future. “We come out of this process with the structure, activities, and…

Bitcoin is holding above $62,000 after a sharp selloff triggered over $150 million in liquidations, highlighting ongoing leverage risks in crypto markets.

The Stablecon Africa Series has completed successful editions in Nairobi, Kigali, and Marrakech, bringing together policymakers, operators, investors, and builders to discuss the future of stablecoins, digital finance, and cross-border payments across Africa ahead of its Johannesburg stop.

Nigeria’s Central Bank is demanding greater transparency from fintechs, payment companies, and other regulated financial institutions through a new directive focused on Ultimate Beneficial Ownership (UBO) disclosure. The move requires regulated entities to identify, verify, and maintain records of the individuals who ultimately own or control their businesses, even where ownership is layered through holding companies, investment vehicles, nominee arrangements, or offshore structures. While the directive is primarily aimed at strengthening governance and anti-money laundering controls, its implications extend far beyond traditional finance. For the crypto industry, the development offers an important glimpse into how Nigerian regulators may approach future…

The Central Bank of Nigeria (CBN) is taking steps to ensure that no single payment company becomes too dominant within the country’s rapidly growing digital payments ecosystem. The move forms part of the regulator’s broader Payments System Vision 2028 (PSV 2028), an ambitious roadmap designed to deepen digital finance adoption, strengthen payment infrastructure, and position Nigeria as a leading regional payments hub. Under the framework, the CBN intends to prevent payment providers from locking in consumers or merchants through anti-competitive practices while promoting a more open and interoperable payments ecosystem.  As fintech companies continue to scale across Nigeria, the regulator…

Ripple, the blockchain infrastructure company behind XRP and the RLUSD stablecoin, has made an undisclosed strategic investment in Series E funding round to Flutterwave, valuing the African fintech giant at approximately $3.25 billion. The deal marks one of the most significant intersections yet between traditional African fintech infrastructure and the emerging stablecoin economy. More than a simple capital injection, the partnership positions both companies to compete for a growing opportunity: becoming the rails that power cross-border payments and stablecoin adoption across Africa. Beyond Capital: A Stablecoin Infrastructure Play According to details disclosed alongside the investment, Flutterwave will integrate Ripple’s U.S.…

Less than five weeks after announcing plans to shut down operations due to funding constraints, cross-border payments startup Chimoney is reportedly set to be acquired, marking a surprising twist in the company’s journey. The Nigerian-founded fintech, which built payment infrastructure connecting businesses across Africa, North America, and Latin America, had previously informed customers that it would cease new transactions and integrations after failing to secure sufficient capital to continue operating. The startup had begun refunding customer balances while preparing for an orderly wind-down. From Shutdown to Acquisition The reported acquisition comes at a time when many observers believed Chimoney’s story…

Zimbabwe has formally introduced a regulatory framework for cryptocurrency businesses, requiring Virtual Asset Service Providers (VASPs) operating in the country to register and comply with oversight requirements. The move marks one of the most significant developments in Zimbabwe’s digital asset sector in recent years and signals a broader shift from regulatory uncertainty toward structured supervision of crypto-related activities. Under the new framework, crypto exchanges, custodians, brokers, and other VASPs must register with the Financial Intelligence Unit (FIU), which operates under the Reserve Bank of Zimbabwe. Businesses that fail to register could face penalties or restrictions on their operations. From Uncertainty…

Elon Musk has officially become the world’s first trillionaire after SpaceX’s historic public market debut sent the company’s valuation soaring past the $2 trillion mark. According to Forbes, Musk’s fortune surged to approximately $1.1 trillion as SpaceX shares began trading on the Nasdaq, cementing his position as the wealthiest individual in modern history. The milestone comes after years of rapid growth across Musk’s business empire, which includes SpaceX, Tesla, xAI, X, Neuralink, and The Boring Company. However, it was SpaceX’s long-anticipated IPO that ultimately pushed the billionaire beyond the trillion-dollar threshold. SpaceX opened trading at $150 per share after pricing…

For years, discussions around African finance have focused on financial inclusion and the continent’s large unbanked population. Yet one of the biggest obstacles facing African commerce today is often misunderstood. The problem is not necessarily that Africans cannot access banking services. Rather, Africa’s financial systems remain fragmented across dozens of currencies, payment networks, and regulatory jurisdictions. While a bank transfer within Nigeria may take seconds, moving money from Nigeria to Ghana, Kenya, South Africa, or other African markets can still involve multiple intermediaries, foreign exchange conversions, settlement delays, and additional costs. This challenge has become one of the strongest arguments…