Our guest on today's podcast is Ray Youssef, CEO, NoOnes. We discuss Nigeria's recent clampdown on Binance and crypto and what happened with his last company, Paxful. But before that, we highlight a few stories from this week. BuuPass acquires QuickBus CBN stops Moniepoint, Kuda, OPay from opening new accounts MTN Nigeria records first loss since 2021 IPO Link to Insight of the Week: https://intelpoint.co/insights/mtn-nigeria-recorded-its-first-loss-in-2023-since-its-initial-public-offering/ Subscribe to The Modern Workplace/, Equity Merchants/, Techpoint Digest/ and Intelpoint's newsletter/ Timestamps 00:00 - Intro 00:21 - Recap of the news 03:16 - Thoughts on the clampdown 08:10 - Did P2P really cause the fall of the naira? 12:21 - Did Binance make money from P2P? 14:44 - Is the Nigerian government justified in going after Binance? 17:29 - The real numbers for crypto in Nigeria 20:11 - Consequences of the clampdown 23:57 - The real crypto scammers 25:26 - The double-edged sword of licencing requirements 28:36 - NoOnes' role 32:28 - The importance of P2P 35:15 - What went wrong with Paxful 38:09 - How NoOnes will redeem the Paxful failure 39:24 - Possible challenges for NoOnes 43:32 - Outro Useful links Kenyan BuuPass acquires QuickBus to expand to Nigeria and South Africa CBN stops account openings for Kuda, Moniepoint, OPay Q1 2024: MTN Nigeria's userbase sinks, loses ₦656.4 billion in foreign exchange This episode was produced by Ogheneruemu Oneyibo Email us your feedback at podcast@techpoint.africa. Visit www.techpoint.africa/ for more stories. Music - Beach by MBB - https://www.youtube.com/watch?v=dEnQ8dHwDSk Find us on Twitter, Facebook, Instagram, and TikTok @TechpointAfrica