The President of El Salvador, Nayib Bukele took to Twitter on Wednesday night, criticizing a Reuters report that claimed Binance CEO Changpeng “CZ” Zhao was flying to bail out El Salvador’s bitcoin bond.
“Please don’t spread Reuters FUD,” Bukele tweeted to his 3.6million followers, belying claims that CZ flew in to help after the $1 billion bond offering originally planned for mid-March was canceled in September had been postponed. I replied to a tweet on the subject from Bitcoin Magazine, which has since deleted the post.
I am a fan of @BitcoinMagazineplease do not spread @Reuters FUD.
the #Bitcoin Volcano Bonds are issued @bitfinex.
The short delay in issuing it is only because we prioritize internal pension reform and need to get that before Congress. https://t.co/chUGgdDBDc
— Nayib Bukele (@nayibbukele) March 23, 2022
I’m a fan of @BitcoinMagazine but please don’t spread the @Reuters FUD. The Bitcoin Volcano bonds are issued with @bitfinex. The slight delay in issuance is only because we prioritize internal pension reform and need to send it to Congress first.
Bukele said that the delay in offering the “Vulcan Bond” was primarily due to delays in legislation in Congress, that his meeting with CZ had nothing to do with the bond offering and that the couple intended to discuss “other issues.”
Paolo Ardoino, director of technology at Bitfinex – the company issuing the bond – came to Bukele’s aid affirmativeÂ That the delays were largely due to the Bond Issuance Acts, which had yet to be approved by Congress. Samson Mow, former director of strategy at Blockstream – El Salvador’s partner in launching the bond – also echoed, tweetÂ that “nothing has changed”.
at the beginning of the week El Salvador’s Finance Minister Alejandro Zelaya said the $1 billion bond issue originally planned for mid-March would be delayed until Septemberciting geopolitical instability as the main reason for the delay.
Three hours after he criticized the Reuters report, Bukele again complained about the United States government on Twitter; responded to a bill aimed at minimizing US exposure to El Salvador’s financial system following the introduction of bitcoin as legal tender. The El Salvador Cryptocurrency Liability Act was approved by committee on Wednesday and is scheduled for a vote by the entire US Senate.
“I never thought in my wildest dreams that the United States government would be afraid of what we are doing here,” he said. tweetedBukele In response to the news, he added, “The United States government does NOT defend liberty and that is a proven fact.”
The Bitcoin (BTC)-backed bond will be issued by El Salvador to amass larger BTC reserves and fund the construction of “Bitcoin City,” a development dedicated solely to Bitcoin and related blockchain technology. It will apparently use geothermal energy from nearby volcanoes to power bitcoin mining as well as the city’s infrastructure. Half of the $1 billion raised will be used for construction costs, and the remaining $500 million will be invested directly in Bitcoin.
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