Oluwaseun Dania, the Chief Executive Officer of TradeFada, an African crypto firm, announced an investment in Patricia Technologies, as a backing to the crypto firm.
Announcing the undisclosed amount of investment in a recent LinkedIn post, Dania noted that the investment in Patricia Technologies, a standout name among Africa’s premier crypto exchanges is a pointer to the confidence investors have in Africa’s Leading Crypto Exchanges.
In his post, Dania said, “Every great company faces its share of challenges, and Patricia is currently navigating through a demanding phase. Yet, adversity often uncovers strength, resilience, and true character.”
Read also: CEOs need to embrace AI for revenue growth – Patricia CEO
“My investment is not merely a financial move; it’s a resounding vote of confidence in the team led by Hanu Fejiro Agbodje that has consistently showcased brilliance, innovation and has positively represented Nigeria and Africa on the global stage,” he said.
Meanwhile, the strategic investment by Dania has been viewed by many as not just a financial commitment but a profound testament to his faith in Patricia’s team, their mission, and their transformative capabilities.
As the crypto market evolves and faces the inevitable ebb and flow of the financial world, backing from influential figures in the industry can provide companies like Patricia with the necessary boost to keep pushing boundaries. With such endorsement, the company is poised to cement further its role as a leading force in Africa’s burgeoning crypto sphere.
However, Patricia disabled withdrawal features for customers for the past two months, and controversial takes and remarks have expectedly followed.
To address the situation, Hanu Fejiro, the firm’s CEO, released a video discussing the challenges the company is currently facing. One of the major setbacks was a million-dollar breach, which is considered the main cause of the ongoing crisis.
Amidst the turmoil, customers are asking when will the withdrawal feature be restored, however, the platform has urged its customers to be patient as efforts are been made in restoring its service and re-opening its withdrawals.
Furthermore, to ensure that the company protects its customers’ assets and enhances security measures, Patricia recently announced its partnership with Deimos Cloud Security.
