Author: Louis Dike
Louis Dike
Louis Dike is the Publisher of Coinafrica, leveraging years of experience driving growth for global exchanges like Bybit, Bitget, and VTrader across Africa. A former Binance Tutor, he now channels his expertise into clear, insightful reporting that amplifies Africa’s voice in the global Web3 economy.
Introduction The digital asset market experienced a dramatic turnaround today, following a steep weekend sell-off that erased billions in value. After hitting lows near $105,000, Bitcoin bounced back above $115,000, while Ethereum and many altcoins joined the recovery wave. The rebound — over 6% in total market cap — came as geopolitical tensions cooled and traders began buying the dip. What Sparked the Crash? On Friday, markets plunged after U.S. President Trump announced 100% tariffs on Chinese tech exports and new export controls, triggering panic across global markets. The shock sent Bitcoin down ~8.4%, sparked a cascade of liquidations, and…
Binance has confirmed it paid out approximately $283 million to cover user losses after three assets on its Binance Earn platform depegged during Friday’s market volatility. The assets affected included USDe, BNSOL, and WBETH. Losses were incurred during the crash window between 21:36 and 22:16 UTC, when dramatic price movements led to the liquidation of many leveraged positions and collateralized holdings. Binance said it will compensate users across Futures, Margin, Loan, and Earn accounts, based on the difference between the actual liquidation price and the depegged price. What Caused the Depegging? Binance responded to speculation of a targeted attack by…
After weeks of euphoric momentum following Bitcoin’s new all-time high above $125,000, the crypto market has entered a volatile correction phase. More than $6 billion in leveraged positions were liquidated in a 24-hour span, according to data from derivatives trackers and major exchanges. This marks the largest single-day liquidation event since early 2024, underscoring how quickly market sentiment can flip when leverage builds up across futures and perpetual contracts. Bitcoin Leads the Correction Bitcoin (BTC) retraced from its record high of $125,700 to trade near $117,000–$119,000, while Ethereum (ETH) dipped roughly 7% to $3,550. Altcoins like Solana (SOL), Avalanche (AVAX),…
A South African court has ruled that crypto transfers to foreign exchanges do not violate the country’s exchange control laws, setting a new legal precedent. The case between Standard Bank and the Reserve Bank clarifies that crypto is not classified as “currency,” granting flexibility for offshore transfers and investments. See more related: Crypto Payments Go Mainstream in South Africa Why It Matters This ruling strengthens South Africa’s position as one of Africa’s most progressive crypto jurisdictions, balancing innovation with compliance.
FLOKI, a meme coin project, has funded two clean water wells in Malawi via the non-profit Water Wells for Africa (WWFA). The initiative demonstrates crypto’s expanding humanitarian reach — using blockchain donations to deliver measurable, transparent impact. See more related: WhatsApp Stablecoin Payments Transform Mobile Money in Africa Why It Matters Crypto philanthropy is moving from hype to action, proving digital assets can fund real community projects across Africa.
The Africa Bitcoin Corporation (ABC) is raising $210 million to grow its Bitcoin treasury, following its successful listing on the Namibia Securities Exchange (NSX). The firm’s Bitcoin-backed structure allows African investors to gain regulated exposure to BTC through local stock markets — a first for the continent. The move underscores the institutional shift toward Bitcoin as a strategic reserve asset. See more related: Africa Bitcoin Corporation Lists on the Namibia Securities Exchange Why It Matters As Africa’s first Bitcoin treasury company, ABC is helping local investors access digital assets safely within regulated frameworks.
The Bank of Uganda has begun piloting a Central Bank Digital Currency (CBDC) using a permissioned blockchain — marking the country’s biggest leap into digital finance yet. The CBDC is reportedly backed by treasury bonds and government securities, ensuring stability and trust. Uganda also plans to tokenize up to $5.5 billion in real-world assets (RWAs), including property and commodities. See more related: Africa Could Lead with Local-Currency Stablecoins Amid Regulatory Shifts Why It Matters This initiative strengthens Uganda’s case as a fintech innovator in East Africa. Tokenizing national assets could unlock liquidity, improve transparency, and modernize trade.
Kenya’s Parliament has officially passed the Virtual Asset Service Providers (VASP) Bill, setting a clear legal framework for crypto firms. The crypto regulation bill places oversight under the Central Bank of Kenya (CBK) and Capital Markets Authority (CMA) — rather than creating a separate regulator. This bill legalizes the operation of crypto exchanges, wallets, and digital asset custodians, while mandating compliance with anti-money laundering (AML) and consumer protection standards. See more related: Kenya’s New 10% Tax on Crypto Fees Goes Live as Industry Reacts Officials say the move aligns Kenya with global Financial Action Task Force (FATF) guidelines and will…
In a compelling vision for Africa’s digital finance future, a South African economist has proposed linking stablecoins (like USDC, RLUSD) to WhatsApp-based wallets, effectively turning everyday chat platforms into crypto payment rails. This concept marries the familiarity of mobile messaging with the power of blockchain: enabling users to send, receive, and transact in “digital dollars” with few moving parts. While still in the prototype stage, it illustrates how Africa could leapfrog traditional payment infrastructure. How It Would Work See more related: Ripple’s RLUSD Stablecoin Eyes Africa’s $329B Remittance Market Why this Could Be Powerful Challenges & Risks Africa Context &…
Despite Bitcoin’s record run past $125,000, a $20 billion South African investment fund is urging caution. The fund’s latest investor note advises against allocating all capital to crypto, emphasizing portfolio diversification as key to long-term stability. While crypto remains one of the best-performing asset classes, fund managers warn that volatility, liquidity risks, and unregulated exposure can amplify downside risks. See more related: South African Reserve Bank Warns on Crypto Risks Context The warning comes as Bitcoin becomes the seventh most valuable global asset, surpassing Amazon by market cap. African investors have flocked to crypto for returns and currency hedging, but…