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FTX recruited customers in Africa by signalling crypto would protect them from inflation, report says | Business Insider

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FTX recruited customers in Africa by signalling crypto would protect them from inflation, report says.

FTX promoted itself in Africa by signalling crypto would shield people's money from inflation, according to the Wall Street Journal.

FTX also ran glamorous events for young Nigerians and offered all new customers a $5 sign-up bonus, the WSJ reported. Bankman-Fried also worked to promote FTX in Africa, announcing on Twitter on November 3 that the exchange had started accepting deposits in West African CFA francs. FTX filed for bankruptcy just eight days later.

 

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