Nigerian crypto and Web3 company Lazerpay has announced that it is shutting down its operations after being unable to raise funds in a funding round. The shutdown comes months after the company announced layoffs due to its inability to raise funds after a lead investor pulled out. Lazerpay co-founder Emmanuel Njoku has announced the company's renewed focus on ensuring a seamless transition for its users by resolving any outstanding issues and inviting companies to make offers to purchase its intellectual property. The African crypto space has recently been hit with upheavals, but certain crypto payment startups in the continent, such as Nairaex, are still thriving.

(By AMAKA NWAOKOCHA)