El Salvador Crypto News

U.S. banking committee argue SBF 'must answer ' for FTX, EthereumMAX lawsuit thrown out and more in this CryptoSlate Wrapped Daily

El Salvador has repurchased $74 million worth of its sovereign bonds maturing in 2023 and 2025.

Bitcoin and Ethereum emerge as the second and third most shorted crypto, Genesis asked for a $1 billion loan but got rejected, and much more in this edition of CryptoSlate Wrapped Daily.

El Salvador has spent over $100 million to acquire 2,381 BTC and continues to buy

El Salvador President Nayib Bukele proclaims Bitcoin as the opposite of FTX and likened FTX to a Ponzi scheme in the wake of the exchange's collapse on Nov. 14.

The Development Bank of El Salvador, BANDESAL, turned down anti-corruption agency's request to provide the government's Bitcoin purchase and sale records for the second time.

El Salvador is doubling down with revised securities laws that put Bitcoin at the core of the country's international trading strategy.

Simon Dixon said El Salvador's Bitcoin strategy will help the country get out of the "fiat-based Ponzi scheme debt mechanisms" that the IMF created.

Bitcoin is credited with boosting vistors to El Salvador and generating more money than the current unrealized loss on BTC holdings.

Finance Minister Alejandro Zelaya argued that El Salvador's Bitcoin (BTC) experiment is on track, and people should not expect results overnight.

President Nayib Bukele said the country will repurchase all sovereign bonds maturing between 2023 and 2025 at market prices.

El Salvador’s $7.7 billion Eurobonds is performing poorly despite having better numbers than countries in a similar position.

El Salvador buys another 80 Bitcoin, but total losses still come in at the tens of millions of dollars.

The initiative appears to be a response to re-developing the capital's Soyapango district, which has a reputation for gang violence.

Recent volatility has cast further doubt on the Bitcoin experiment, but El Salvador's risk exposure remain low.

El Salvador has collected over 2,300 Bitcoins since 2021. Even though the county lost more than $50 million with the recent crash, it's finance minister says the risk is extremely minimal.

Critics take aim at President Bukele as Bitcoin extends losses to sink under $23,000 for the first time since December 2020.

The current traditional financial system has failed many countries leaving them subservient to the US Dollar, the meeting from 44 countries in El Salvador shows nations want change and see Bitcoin as a opportunity to do so.