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For instance, between 2014 and 2019, financial companies raised $600 million, according to the estimate. The research cites the Fintech Association of Nigeria's (FAN) prediction that investment in the financial services ecosystem will top $400 million in 2021 to demonstrate that the fintech field has developed fast since 2020. In addition to the anticipated record investment, the FAN predicts that revenue will hit $543 million by 2020.

A new crypto and blockchain association set up in Iran

In Iran, a newly formed crypto business group has begun operations under the auspices of the nation's chamber of commerce. Its leadership aspires to assist its members in overcoming challenges while also enabling the use of blockchain technology in the sanctioned country’s economy.

According to the English-language business newspaper Financial Tribune, the newly-established Iran Blockchain and Cryptocurrency Association (IBCA) has begun working under the control of the Iran Chamber of Commerce, Industries, Mining, and Agriculture (ICCIMA). As per the magazine, the IBCA is the chamber's first affiliate organisation addressing the issues that Iran's expanding blockchain ecosystem faces.

Mohammad Reza Sharafi, a member of the association's board of directors, announced the start, expressing hope that the IBCA would be able to remove barriers encountered by firms in the crypto area and employ blockchain technology in the Iranian economy's best interests.

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According to the organisation’s spokesman, the ICCIMA granted authorisation for the new group's formation last year. However, the launch was postponed due to various factors, not the least of which is the change of leadership in Tehran.

Working under the control of the chamber, Mohammad Sharafi believes, would provide an opportunity to address significant difficulties in the industry, particularly those related to legislation.

Fundstrat claims that Jack Dorsey's resignation as CEO of Twitter is good news for cryptocurrency

Following Jack Dorsey's resignation on Monday, Twitter now has a new CEO. Dorsey, who is still the CEO of Square Inc., has stated that he wants to concentrate on bitcoin. According to Fundstrat Global Advisors' managing director and head of research, Dorsey’s exit from Twitter is optimistic for crypto.

Jack Dorsey announced his departure from Twitter on Monday. The outgoing CEO of Twitter revealed his intention to resign in a letter to the Twitter workforce. The new CEO is Parag Agrawal, who formerly worked as Twitter's chief technical officer. Dorsey remains the CEO of Square Inc., which is engaged in several bitcoin-related initiatives.

Dorsey's departure from Twitter, according to Tom Lee, managing partner and head of research at Fundstrat Global Advisors, is optimistic for the crypto market. In an interview with CNBC on Monday, he was asked what Dorsey's departure from Twitter means for the bitcoin and digital assets ecosystem.

In response to the question, "Is crypto bullish?"

"One thing to remember is that crypto is the confluence of monetary services and technology," Lee said. That equates to around 60% of the GDP. Financial services account for half of GDP; therefore, it's a massive industry," he explained. "And since there isn't enough cash devoted to crypto innovation, it takes somebody like Jack Dorsey to marshal focus, and I don't believe the space is yet way too invested."

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Lee went on to say that the crypto field is still in its infancy, not just in terms of projects like Bitcoin and Ethereum, but also in terms of "the quantity of crypto equities and businesses formed on crypto."

Twitter formed a special team to work on bitcoin and decentralised apps earlier this month.

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