Thepeer: How to properly shutdown an ailing startup
- Nigerian startup Thepeer announced its shutdown and the return of investor funds.
- South Africa granted licenses to 75 crypto assets providers, but crypto assets are not recognized as currency by the South African Reserve Bank.
- Nigeria launched a multilingual large language model (LLM) in partnership with AI firm Awarritech, DataDotOrg, NITDA, and NCAIR.
The shutdown of Thepeer raises important questions about proper shutdown processes and corporate governance in the startup ecosystem. The granting of licenses to crypto assets providers in South Africa shows a growing interest in the crypto industry, despite the lack of recognition as currency by the Reserve Bank. The launch of the multilingual large language model in Nigeria is a significant development, but concerns about data privacy and protection need to be addressed.
