African crypto startups venture funding grows by over 1000% in 2022 but Zynecoin is going down. Why?
2021 by Crypto Valley Venture Capital and Standard Bank has revealed that crypto startups in Africa saw more venture funding in the first quarter of 2022 than in 2021.
The surge of African crypto unicorns is possible with the increased interest in the region from venture capital firms primarily funding finance-related crypto companies.
Per the report, most venture capital funding has gone to fintech companies and crypto exchanges.
Meanwhile, Zynecoin is making no progress with its only prospect in Burkina Faso which has not deployed the ATM project. Bad market analysis by the Wethio Project team and a bad decision that led them to retreat to… Dubai!
The Wethio blockchain is not mentioned in the report, nor is the Wethiox exchange.