BitcoinCryptocurrency News

El Salvador President Condemn Bitcoin FUD

Nayib Bukele the President of El Salvador publically criticizes Reuters for propagating fear, uncertainty, and doubt (FUD) regarding the $1 billion volcano bond delay in the state.

Nayib Bukele the President of El Salvador on Wednesday in his Twitter post criticized the report from Reuters stating that Changpeng Zhao (CZ) CEO of Binance is assisting to save the Bitcoin Bond of El Salvador. 

The President tweeted to his 3.6 million followers on Twitter that please do not circulate the FUD from Reuter’s, and criticized their news about CZ assisting to save $1 billion bonds which were scheduled for offering in mid of March but delayed until September. He replied to the Bitcoin Magazine tweet which was later deleted by the Magazine.

The President said that the reason for the volcano bond offer delay was mainly because of Congress legislation delayed and the president meeting with Zhao has nothing to do with it and the meeting was held for the discussion of other issues.

The company which is sponsoring the bond, Bitfinex CTO Paolo Ardoino, came to rescue Bukele and stated that mostly the delays are happening due to laws related to the issuance of bonds are yet to be passed by Congress. Partner of El Salvador in the launch of Bond and Blockstream former chief of strategy officer Samson Mow has also tweeted that nothing has been changed.

This week earlier, Alejandro Zelaya, the Finance Minister of El Salvador stated that the $1 billion volcano bond which was at first scheduled for mid of March has been delayed till September, indicating the main reason for the delay is geopolitical uncertainty.

President Bukele three hours later criticizing the Reuters report complained United States government on Twitter in response to a bill proposal seeking to reduce US exposure to the financial system of El Salvador after it has adopted Bitcoin as a legal tender. The El Salvador Cryptocurrency Accountability Act was forwarded to the committee on Wednesday for voting by the United States Senate.

President Bukele has tweeted responding to news that I have never imagined that the United States government has any fear of what we’re doing and it is a proven reality that the United States doesn’t stand for freedom.

Show More

Leave a Reply

Your email address will not be published. Required fields are marked *

Skip to content