In Africa, FTX masqueraded as a haven from currency plunges and inflation

A few weeks before the cryptocurrency exchange FTX files for bankruptcydozens of young Nigerians in tight dresses and brightly colored suits shimmyed under limbo bars, posed for pictures in front of company logos and sipped expensive liquor at swanky beachfront venues. rice field.

The party in Lagos, Nigeria was part of the Bahamas-based exchange’s foray into Africa, and in the final days of the implosion, FTX aggressively recruited new clients whose funds are currently stuck in bankruptcy proceedings. I was recruiting.US prosecutor FTX Founder Indicted, Sam Bankman-Friedwith fraud Suspected of stealing billions of dollars He stole client money from FTX and defrauded investors and lenders against his trading firm, Alameda Research. he pleaded not guilty.