What next for Solana? and China's Scramble for Africa

The Coin Bureau Podcast: Crypto Without the Hype

Nov 30 2022 • 50 mins

FTX is still making the headlines and the contagion continues to spread. Companies and projects across the industry are reeling and much of the talk is about which could be the next domino to fall. Welcome to crypto winter.

One project that many are concerned about is Solana, which was heavily backed by FTX and Alameda Research. SOL’s price has tumbled in the wake of FTX’s collapse as a result of this exposure, and the road ahead looks rocky. In the first part of today’s episode, you’ll hear a bit of background about Solana, as well as some significant developments it has undergone in recent months. You’ll also hear the details of its relationship with FTX and Alameda, as well as how the projects in its ecosystem are also under threat. Can Solana survive, or is the sun about to set on one of crypto’s biggest projects?

Next up, something a little different. There’s enough bad news floating around the cryptoverse at the moment, so let’s take a look at a fascinating geopolitical issue instead.

Africa is poised to become an economic powerhouse in the coming decades, thanks in large part to its high birth rate and abundance of natural resources. As populations across much of the rest of the world decline and grow steadily older, African nations are set to reap the benefits of having younger and more productive workforces. They’ll need them to get all those metals and minerals out of the ground.

Other nations are slowly waking up to this fact, but Western ones are lagging behind. China however is well aware of Africa’s potential and has invested heavily across the continent in recent years. As a result, Chinese power and influence have increased, making it arguably the pre-eminent foreign power across much of Africa.

But, as countries like Sri Lanka have found to their cost, Chinese money doesn’t necessarily come cheap. Defaulting on debts owed to the world’s second-largest economy can be ruinous and China hasn’t been shy of appropriating collateral in such situations. As African nations look to develop further in order to harness their future potential, is China the best business partner to have? Have a listen to our deep dive on this issue and see what you think.

We hope you enjoy the show.

Producer for iHeartMedia: Noel Brown

Editor: Semir Mutapcic

Theme music composed by: Noel Brown

See omnystudio.com/listener for privacy information.

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