African web3 startup Nestcoin declares it held its assets in FTX, lays off employees

African web3 startup Nestcoin has laid off some employees as FTX’s demise impacted its business. This information was shared by the startup’s CEO, Yele Bademosi, who, in a tweet, said FTX’s fall from grace affected his one-year-old startup, which held its assets (cash and stablecoins) at the now-defunct crypto exchange to manage operational expenses.
Since Sam Bankman-Fried’s crypto empire — made up of FTX, Alameda Research, and FTX Ventures — collapsed last week, there have been various reports of companies whose money are stuck on FTX, its crypto exchange

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