One of the earliest P2P crypto platforms, popular in Nigeria, which shut down in 2023 amid regulatory scrutiny and internal issues.
Why Nigerian crypto startups are expanding beyond retail trading
Nigerian crypto startups are struggling with margin compression due to increased competition. Peer-to-peer trading became essential after the Central Bank of Nigeria barred banks from servicing crypto transactions.
crypto exchange NoOnes confirms Ray Youssef is no longer CEO
Youssef announced his resignation as CEO of NoOnes six days prior to the company's statement. NoOnes clarified that Youssef's legal matters are personal and unrelated to the platform.
“There's a syndicate within Nigeria that was leveraging arbitrage in a heavy and hurtful manner to the naira." - Ray Youssef
Binance has been on the receiving end of Nigeria’s onslaught against crypto, from blocking its websites to arresting its employees. There is a syndicate within Nigeria that leverages arbitrage to manipulate the naira, buying it for cheap and selling it for a profit in the black market.
