Welcome to this week’s edition of Tawkwrap, where we bring you a detailed and organized summary of the most significant developments shaping the crypto landscape. From global market price action to major regulatory and innovation milestones—both in Africa and worldwide—we cover it all with the depth and insight you’ve come to expect.
Market Price Action
This week, the global crypto market showcased its characteristic volatility as investors balanced bullish headlines against cautious regulatory updates. Price swings across major digital assets highlighted the market’s sensitivity to new developments, with institutional actions and policy shifts significantly impacting investor sentiment.
Bitcoin opened the week near $99K and is currently holding around the same level. However, it experienced a sharp dip midweek, dropping as low as $91K, while Ethereum touched $2K. The broader market endured a major sell-off, leaving many assets deep in the red.
In these turbulent conditions, market participants are closely monitoring emerging trends that could shape long-term growth while presenting short-term trading opportunities.
African Crypto News
Nigeria’s SEC to Fast-Track Crypto Licensing in 2025
In a significant move to bolster its fast-growing crypto ecosystem, Nigeria’s Securities and Exchange Commission (SEC) announced plans to accelerate the issuance of crypto licenses in 2025. This initiative, emerging from the Accelerated Regulatory Incubation Programme (ARIP) launched in June 2024, aims to provide provisional licenses to promising crypto startups, thereby creating a more secure and regulated market environment. The decision reflects the SEC’s commitment to fostering innovation while safeguarding consumers in a market where traditional financial channels have long been lacking.
StarkWare Launches $4 Million Venture Fund to Drive Blockchain Innovation in Africa
StarkWare has unveiled a $4 million venture fund dedicated to nurturing blockchain startups across Africa. Spearheaded by seasoned entrepreneur Kheireddine Kamal, the fund focuses on early-stage teams—especially those developing solutions on Starknet, the zero-knowledge rollup that scales Ethereum. This strategic initiative is set to empower African innovators by providing much-needed capital, mentorship, and technical support, ultimately helping to drive global crypto adoption on the continent.
Carry1st Report: Africa’s Gaming Market Surpasses $1.8 Billion in 2024
According to a new report by Carry1st, in collaboration with Newzoo, Africa’s gaming market has exceeded $1.8 billion in revenue in 2024, reflecting a 12.4% year-on-year growth—six times faster than the global gaming sector. With nearly 90% of this market driven by mobile gaming, the continent has seen an influx of 32 million new gamers over the past year. These figures underscore Africa’s rapid digital transformation, as widespread mobile penetration and improved internet access fuel both consumer spending and innovation in the gaming sector.
Tanzanian Billionaire Mohammed Dewji Falls Victim to $TANZANIA Scam
In a stark reminder of the risks in the digital space, Tanzanian billionaire Mohammed Dewji—head of the MeTL Group and a prominent figure in Africa’s business community—recently fell prey to a sophisticated crypto scam involving the fraudulent promotion of a token called $TANZANIA. Hackers compromised Dewji’s official X (formerly Twitter) account, posting deepfake videos and misleading endorsements that misdirected his 2.2 million followers. The scam resulted in an estimated $1.4 million loss for unsuspecting investors, highlighting the urgent need for enhanced cybersecurity and regulatory oversight.
Keep Bitcoin Away from South Africa’s Strategic Reserve, Says Helen Zille
At a recent crypto conference in Cape Town, Democratic Alliance federal chair Helen Zille expressed her personal bullishness on bitcoin, while strongly advising against its adoption as a strategic reserve asset by South Africa. Zille argued that, despite bitcoin’s impressive performance and potential, the volatility and risks it introduces could destabilize the country’s financial system. Citing examples such as El Salvador’s experiment with bitcoin, Zille emphasized that South Africa’s strategic reserve—which traditionally includes gold, foreign exchange, special drawing rights, and forex deposits—should remain composed of more established, stable assets to avoid triggering excessive risk premiums in the bond market.
Global Crypto Developments
BlackRock to Launch Bitcoin ETP in Europe
In a move that underscores the increasing institutional acceptance of digital assets, BlackRock has announced plans to launch a Bitcoin Exchange Traded Product (ETP) in Europe. This initiative is expected to make bitcoin more accessible to traditional investors by offering a regulated product that bridges conventional finance and the crypto world, thereby paving the way for broader adoption.
FDIC to Revise Guidelines, Allow Banks to Engage in Crypto Activities
The U.S. Federal Deposit Insurance Corporation (FDIC) is set to update its guidelines to enable banks to participate in crypto-related activities. This revision marks a significant shift in policy, aiming to integrate traditional financial institutions with the rapidly growing crypto sector, and is expected to facilitate more secure and compliant crypto services.
Microstrategy Rebrands to Strategy
Microstrategy, long known for its substantial bitcoin holdings, has undergone a rebranding to become Strategy. This change reflects the company’s evolving focus on broader digital asset strategies and its commitment to positioning itself as a leader in the digital finance space.
Czech President Signs Law Removing Capital Gains Tax on Bitcoin
In a landmark move for crypto investors, the Czech President recently signed legislation eliminating capital gains tax on bitcoin holdings of over three years. This policy shift is expected to encourage long-term investment in cryptocurrencies, positioning the Czech Republic as a crypto-friendly jurisdiction in Europe.
First FTX Repayments Set for February 18 for Claims Under $50,000
In a significant development for those affected by the FTX collapse, the first round of repayments for claims under $50,000 is scheduled for February 18. This move offers a measure of relief for smaller investors and marks a critical step in the ongoing process of restitution following one of the most notorious crypto exchange failures.
Trivago Integrates with Travala, Enabling Hotel Bookings in Over 100 Cryptocurrencies
Travel giant Trivago has partnered with Travala to enable hotel bookings using more than 100 cryptocurrencies. This integration not only simplifies travel planning for crypto enthusiasts but also reinforces the growing real-world utility of digital assets.
SWF and Sacks Announce Ambitious Crypto Plans
In a dual announcement, a sovereign wealth fund (SWF) indicated plans to launch crypto initiatives within 90 days, while Sacks revealed its own crypto strategy set to roll out within 170 days. These moves signal increased interest from traditional financial institutions in tapping into the potential of the digital asset space.
Stablecoin Bill “GENIUS” Introduced to the US Senate
A new stablecoin bill, dubbed “GENIUS,” has been introduced to the U.S. Senate by Senator Hagerty. The proposed legislation aims to establish clear regulatory standards for stablecoins, ensuring greater consumer protection and stability in the crypto market.
Coinbase Receives Approval to Launch Crypto Services in the UK
Coinbase has secured regulatory approval to launch its crypto services in the United Kingdom. This milestone underscores Coinbase’s expanding global footprint and highlights the growing acceptance of cryptocurrency within traditional financial systems.
Trump Signs Executive Order to Create a Sovereign Wealth Fund
In another high-profile move, former President Trump signed an executive order to establish a sovereign wealth fund. This initiative is expected to bring increased governmental participation in the crypto sector, potentially shaping how digital assets are integrated into national financial strategies.
Berachain Officially Launches Mainnet, Distributing $1.1 Billion Airdrop
Layer-1 blockchain Berachain has officially launched its mainnet, accompanied by a massive airdrop worth $1.1 billion. Berachain’s innovative proof-of-liquidity model and triple-token structure set it apart in the competitive blockchain space, attracting significant attention from investors and developers alike.
Stay tuned to TawkCrypto for more in-depth analysis and updates as these stories evolve.
