Diana Tlupova, Head of Compliance at Nexera ID, has argued players in the decentralized finance (defi) space can stay ahead of regulators who might want to impose stringent Know-Your-Customer (KYC) rules by using zero-knowledge (zk) proofs to authenticate user credentials. Tlupova contends that, in addition to allowing users to maintain control over their KYC data, […]
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South Korea to Expel Crypto Exchanges Failing to Meet Its Stringent Conditions
Cryptocurrency exchanges that fail to meet South Korea’s stringent operating standards will be expelled from the crypto market, the country’s financial intelligence agency has said. The Financial Intelligence Unit said its annual work plan incorporates the insights of cryptocurrency experts serving on its advisory committees. South Korea to Deploy System for Identifying Suspicious Transactions South […]
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Blockchain Experts Meet With Colombian President to Discuss Technology’s Use Cases
Samson Mow, CEO of JAN3, and other blockchain experts, met with Colombian President Gustavo Petro to discuss the possible uses blockchain and bitcoin tech could have to help modernize the management of certain institutions of the Colombian state.
Colombian President Gustavo Petro Discusses Blockchain and Bitcoin Implementation
Gustavo Petro, president of Colombia, announced on November 29 that he had met with several blockchain and bitcoin experts to discuss applying this tech to improve the management of several institutions and projects in the country.
The meeting, which saw the presence of JAN3 CEO Samson Mow, JAN3 Marketing Director Raul Velasquez, JAN3 CMO Edwin Rivas, RSK Labs co-founder Diego Gutierrez, Bingx International Operations Consultant Cristian Quintero, and Tropykus co-founder Mauricio Tovar, included the discussion of three main topics.
The first one had to do with modernizing the billing processes of the health system in Colombia, which he suggested could be monitored in real-time using blockchain tech instead of relying on manual procedures that still use ink and paper records.
Also, Petro hinted at utilizing blockchain tech to manage land registries and issue land ownership titles. Gabriel Angulo, IT VP of the National Agrarian Bank, was also present to review these discussions to articulate these efforts. In July 2022, Colombia announced the launch of the first National Land Registry built on top of the Ripple ledger in partnership with Peersyst Technology.
The last topic discussed included using Bitcoin in free work cooperatives in the Colombian popular economy, although no more details were shared on this subject. Petro also stressed that these technologies “can be promising for the prosperity of the people.”
The Ministry of Information Technologies and Communications of Colombia has already issued a reference frame for implementing blockchain tech in state projects that explicitly states these efforts must comply with the Colombian legal framework.
What do you think about the intentions of Colombian President Gustavo Petro in implementing blockchain tech to modernize state processes? Tell us in the comments section below.
Meet StocksFC: The Football Stock Market Where Goals Earn You Crypto
PRESS RELEASE. Amsterdam, Netherlands – StocksFC, the innovative football (soccer) stock market platform that runs on Ethereum, is proud to announce its astounding success since its inception six months ago. In this short span, StocksFC has redefined the sports investment landscape, presenting fans with an unprecedented opportunity to monetize their football acumen.
A Game-Changer in Sports and Finance
With its launch in May 2023, StocksFC offered fans the chance to buy, sell, and trade football player stocks with the potential to earn crypto rewards when players shine on the pitch. Fast forward six months, and the market cap has increased by 1350%, with over half a million stocks in circulation. This seismic shift in sports engagement mirrors the bullish trends of the most dynamic financial markets.
Unrivalled Profits and Portfolio Power
The platform’s robust growth is underpinned by the soaring value of player stocks – premier players like Maddison surging over 400% since being listed. These are not anomalies but rather the norm on StocksFC, where every week offers the thrill of potential profits. Football fans have the freedom to craft their portfolios to capitalize on the weekly, monthly, and end-of-season cash rewards, with strategies ranging from investing in undervalued players to identifying future superstars.
Alex Thomas, founder of StocksFC said, “The surge in growth we’ve experienced in the past 6 months has been remarkable. We remain firmly committed to establishing ourselves as a leading force in the rapidly growing field of alternative financial assets.”
Three-tier model to retain rapid growth
The three-tier model to retain rapid growth at StocksFC includes an unparalleled commitment to transparency, sustainability, and community.
Transparency is not just a buzzword at StocksFC; it’s the backbone. The platform guarantees an immutable ledger of transactions, fostering unmatched trust among its users. Following this, sustainability is equally vital, with StocksFC’s design ensuring long-term value growth. Each stock is an ERC20 token and with a limit of 100k stocks per player and a systematic burn of stocks on trades, scarcity is artfully crafted to boost potential rewards.
Additionally, at the heart of StocksFC’s ethos is a community-first approach. User polls will guide significant platform decisions, ensuring that those who invest their time and passion into StocksFC have a voice that resonates at the very core of its operations.
The Future is Bright
The groundbreaking platform has not only attracted fans but has also garnered the confidence of financial and technological titans. Early investment from venture capital firm Antler has supercharged StocksFC’s ascent, while partnerships with Bitgo, Ramp, Coinbase Commerce, and Opta have provided a solid infrastructure for seamless, secure trading experiences.
With it’s exceptional growth, StocksFC continues to blaze a trail in the sports investment domain. The future promises an exciting expansion of its offerings, with plans to release hundreds of additional players in the coming months and to expand into Europe’s top 5 leagues, as well as other sports.
StocksFC extends an open invitation to football fans and sports traders worldwide to join them, and be a part of this winning streak that melds passion with profits.
For more information and to become part of this investment revolution, visit StocksFC’s platform, engage with the community on Telegram, Discord and X (Twitter).
Score Big with StocksFC – Where Every Fan is an Investor.
StocksFC – Buy. Sell. Earn
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Cameron Winklevoss Criticizes SEC Regulatory Approach: ‘Securities Laws Written in 1933 Don’t Meet the Realities of the World Today’
Cameron Winklevoss, a co-founder of Gemini, a U.S.-based cryptocurrency exchange, criticized the U.S. Securities and Exchange Commission’s (SEC) posture regarding cryptocurrency regulation. Winklevoss stated that the SEC laws written in 1933 are obsolete today, and their application would mean that the crypto industry will leave the U.S. behind.
Cameron Winklevoss Believes SEC Securities Laws Are Too Outdated to Deal With Crypto
Cameron Winklevoss, a co-founder of Gemini, a U.S.-based cryptocurrency exchange, has criticized the U.S. Securities and Exchange Commission’s application of the Securities Act of 1933 in cryptocurrency cases.
According to Winklevoss, the Securities Act, written in 1933 and still commonly used to determine if an asset constitutes a security at any given time, is outdated and not workable in today’s crypto paradigm.
Winklevoss stated:
Everyone including the SEC knows that securities laws written in 1933 don’t meet the realities of the world today. There are two choices: Update the law taking a first principles approach or be left behind.
Furthermore, Winklevoss compared regular mail with email, remarking on the differences between the two and how equivalent regulation would have slowed down the internet’s development and adoption.
On taking the same approach with crypto, he declared:
You can’t pretend that crypto is an orange grove and expect it to flourish. Unless of course, your goal is to kill it.
The SEC filed a complaint against Gemini in January, alleging the exchange engaged in an unregistered offer and sale of securities to U.S. retail investors. The case involves Genesis, a cryptocurrency lender that filed for bankruptcy in January.
Pushing the Industry Away From the U.S.
Winklevoss joins a group of cryptocurrency entrepreneurs and lawmakers that have repeatedly warned against the effects that the recent barrage of legal actions against exchanges like Coinbase and Binance will have on the future of the industry in the country.
He explained what he thinks the industry will go through if the SEC doesn’t change its enforcement approach. Winklevoss explained:
What does being left behind mean? Industry moves offshore. Brain drain. Lost jobs. Lost economic growth. National security risk. U.S. does not participate in developing future financial rails.
Brian Armstrong, CEO of Coinbase, has also declared that the direction in which regulation is going in the U.S. might drive innovation offshore while other countries like China are embracing crypto and blockchain.
What do you think about Cameron Winklevoss’ opinions on the SEC’s regulatory approach? Tell us in the comment section below.
Meet Ordinals, the New Bitcoin NFT Engine, and the Drama Surrounding Them
Ordinals, a new way of using and getting content using Bitcoin, are enabling creators to harness the utility of NFTs (non-fungible tokens) directly from the blockchain, essentially creating native Bitcoin NFTs. This has stirred the pot in some circles, which are now discussing if this is the way in which Bitcoin’s blockchain should be used, and how this new use case will affect bitcoin nodes and fees in the future.
Ordinals Enable Bitcoin NFTs Courtesy of Taproot
A newfound use case for the Bitcoin chain is now being tested by individuals that have found a way of getting content directly to the blockchain. The project, called Ordinals, and launched just a few days ago, has enabled anyone to create Bitcoin NFTs (called inscriptions) as part of its functionality. This opportunity was inadvertently opened by the Taproot upgrade that the network underwent in November, which extended the length of Bitcoin transactions to almost the whole size of a block.
This has been key for what’s currently happening. Before Taproot, transactions could only be 80 bytes in size, limiting the usability of what was stored in the block space. Now, Bitcoin NFTs are being saved directly on the chain, enabling the benefits of portability, durability, and decentralization that characterize Bitcoin.
This could present unique benefits for content creators and users, given that each piece of content stored on the blockchain via Ordinals will have to be synced by each node out there, giving them the longevity of the blockchain itself. Most NFT projects that harness other chains, Ethereum included, just store pointers to the information, that does not reside directly on the blockchain.
Controversy Behind the New Functionality
While there are some ostensible advantages surrounding the adoption of Bitcoin NFTs, the rise of this new feature has awakened an old debate about the true function of the network and what constitutes an attack against the Bitcoin ecosystem. There are already two groups in this public debate: those who support this new face of Bitcoin, and those who believe this is a spam attack that should be avoided and even censored.
The first group alleges that this is a net positive for the chain and that it will contribute to bringing more fees and uses cases for the chain. This is the case of known bitcoin-influencer Dan Held, who believes that each transaction paying its fee is not spam and that the chain is permissionless for anyone to build on top of it.
The second group states that, even if there is nothing that they can do to stop it, this will hurt Bitcoin’s financial and transactional use case. Blockstream CEO Adam Back, believed by some to be Satoshi Nakamoto, is part of this faction, stating that bitcoin users can “educate and encourage developers who care about bitcoin’s use-case to either not do that, or do it in a prunable space-efficient eg time-stamp way.”
Luke Dashjr, a bitcoin developer, called this an “attack” on the protocol and asked for “spam” filters to be developed to counter ordinal functionality. Another Twitter user called “Bitcoin is saving” criticized this from another point of view, explaining that this would affect the viability of marginalized people in developing countries for running Bitcoin nodes and sending transactions.
What do you think about Ordinals and Bitcoin NFTs? Tell us in the comments section below.
Meet The UST Restitution Group: Tracking Do Kwon, Looking For Payback
The UST Restitution Group is on Do Kwon’s tail. A few governments and this civilian group are all out looking for the Terra creator, who insists that he’s not on the run. The Terra/ Luna collapse was one for the books, and that book is still open. We will write many more headlines about Do Kwon, and probably a few about the UST Restitution Group also. What’s done is done, some might say, but others will not rest until the case involves a court.
In the FT article menacingly titled “Retail investors become vigilantes in hunt for crypto’s most wanted man,” we get to meet the UST Restitution Group. It’s “an association of nearly 4,400 crypto investors trying to track down Kwon, who is wanted in South Korea on charges of financial fraud.” That’s not Do Kwon’s only legal problem, the UST Restitution Group “launched class action lawsuits against Kwon in Singapore and the US, while Interpol has issued a red notice for him. South Korea is expected to revoke his passport on Wednesday.”
UST Restitution Group: Anons Looking For Do Kwon
According to the UST Restitution Group’s website, “Members have suggested that Kwon could be in Dubai, Russia, Azerbaijan, the Seychelles or Mauritius, among other locations.” A pseudonymous user went further and wrote, “Dubai is friendly to crypto, very international (he would not stand out), and has limited extradition treaties in place. It would seem like the best fit for the 3-5 hour timezone shift apparent in the data.”
Reviewing their impressive methods, another pseudonymous user reveals, “I obviously wouldn’t delve into specifics because publishing our methods would render them ineffective. I think we’re doing more than anyone else, though.” This particular UST Restitution Group member “introduced himself as a 31-year-old Ivy League-educated American,” and goes by the name of Antithesis. “His days are numbered. We have people who are very, very close to Do Kwon,” the person said.
These are very high-level people. They’ve been scorned and they want answers. What will they do to Do Kwon when they find him, though? Another UST Restitution Group member that goes by the name of HKTrader “said he spent a month organising a Singapore class action lawsuit against Kwon and discovered his whereabouts in the country by hiring a private detective.”
Do Kwon is not in Singapore” anymore, though.
UST price chart on Kraken | Source: UST/USD on TradingView.com
How Would They Do It?
The elephant in the room is this: people are not sure how Do Kwon’s trial is going to go. The FT article quotes Seoul crypto expert Choi Hwa-in, “I wonder how effective the legal action against him could be, given the lack of legal ground to punish crypto players. This would just strain the crypto market further, dragging down their value and hurting investors more as a result.”
They also quote an official statement from Terraform Labs themselves, “Recent developments reaffirm that Terraform Labs and its stakeholders remain subjected to a highly politicised and erratic legal environment in South Korea. The facts are on our side, and we look forward to the truth coming to light in the coming months.” Is it possible that Do Kwon and company have it all under control? If so, why is he hidd… oh yeah, because the UST Restitution Group people are literally looking for him.
In a recent interview with journalist Laura Shin, the Terra creator refused to reveal his current location. Apparently, when people knew where Do Kwon was, there was trouble. In the interview, the Terra creator admitted failure and said the cause was the protocol’s “weakness to respond to the cruelty of the markets.” Do Kwon admits to technical and theoretical mistakes, but denies Terra was a scam.
I'm sorry, people, but this is totally not cool. What do they plan to do when they find him? WTF
People are crazy — Do was right when he said on my show that he can't reveal his whereabouts
Seriously, don't do thishttps://t.co/DBRaViSJ0u
— Laura Shin (@laurashin) October 20, 2022
For her part, Laura Shin went to bat for Do Kwon on this issue. “I’m sorry, people, but this is totally not cool. What do they plan to do when they find him? WTF? People are crazy — Do was right when he said on my show that he can’t reveal his whereabouts. Seriously, don’t do this,” the journalist tweeted.
Featured Image by Amy Z from Pixabay | Charts by TradingView
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Meet the Crypto and NFT Projects Making a Social Impact
At ETH Barcelona on July 6-8, there was the usual mix of geeks, coders, hardcore ethereans, and project founders. With market conditions having flushed out the moonboys and influencers, however, there was a distinct absence of shillers. Its slogan “What happens in Barcelona stays on the blockchain” captured the nerdiness of the event, whose focus was very much on building.
In place of the frothiness that characterizes many crypto conferences, there was an egalitarian ethos: an exploration of how blockchain “can help build a sustainable world full of human potential.” How exactly does this amorphous vision manifest in practice? And can a technology invented to solve the double spend problem really improve the everyday lives of planetary citizens?
Answering those questions calls for taking a closer look at the crypto projects represented at the conference that fall into the ESG bracket: Environmental, Social, and Governance. While mixing and mingling at ETH Barcelona, I met representatives from a number of these projects. Here’s what I learned.
The Giving Block
One of the projects I had the pleasure of meeting at ETH Barcelona was The Giving Block (TGB). These guys are convinced that crypto can change the world for the better. TGB makes it easy for organizations to accept crypto donations and for individuals to donate with crypto. It’s particularly passionate about NFT fundraising and has authored an entire report on the topic.
I was particularly impressed with the fact that The Giving Block seems intent on putting its money where its mouth is: CEO Jared Isaacman of parent company Shift4 is matching donations up to M for its Caring With Crypto campaign. Thanks to the efforts of projects such as The Giving Block, NFT philanthropy is really taking off, funneling more funds to social causes and onboarding more people and organizations to crypto.
The Future of Giving
Many of the socially conscious startups to have emerged from the crypto sector lately have been NFT-focused. There are obvious reasons for this synergy: NFTs are highly visual, and thus an effective medium for conveying environmental messages. This mechanism also suits collaborations with artists and creators who share similar values. DoinGud, one of ETH Barcelona’s launch partners, has done more than perhaps any other NFT project to realize this goal.
As the project’s manifesto explains, “We believe that art has always been an incredible tool for influencing change and by using blockchain technology to create transparency, we can make an even stronger impact in the world.” DoinGud is intent on spurring positive social impact, which it achieves through its NFT platform where social causes can register as eligible organizations to whom creators can donate a portion of their proceeds. DoinGud has partnered with over 200 social causes, each of which aligns with the UN’s Sustainable Development Goals.
In the run-up to ETH Barcelona, DoinGud ran an NFT scavenger hunt that gave participants the opportunity to “collect NFTs to create a better world.” The project is doing more than merely paying lip service to social causes: it’s actively onboarding new users to crypto while showcasing the transformative power of NFTs.
Another socially conscious project represented at ETH Barcelona was Giveth. The event sponsor aims to “decentralize charity” by rewarding donors who contribute to “for-good” projects. The platform enables cryptocurrency holders to donate to a slew of charitable projects including ones focused around Ukraine, sustainable food, and grassroots community support. Giveth essentially runs a charitable Kickstarter, allowing anyone to create a project and start raising funds. Verified projects reward donors with “GIVbacks.”
Like DoinGud, Giveth is doing more to onboard everyday users to crypto than the majority of conventional projects, while showcasing the industry as a force for global good. As its mission statement explains, Giveth is “building a culture of giving that empowers and rewards those who give – to projects, to society, and to the world. We aim to inspire our community to participate in an ecosystem of collective support, abundance and value-creation.”
The Next Wave of Socially Conscious Projects
Signifty is a new NFT project taking up the socially conscious baton and running with it. What’s interesting about its approach is the way it engages celebrities and harnesses their stardust to achieve outcomes. The idea is simple: celebs and influencers create NFTs that anyone can purchase, with proceeds going to causes of the creator’s choosing. Each of the stars represented on Signifty’s platform chooses a “mission” i.e. a charitable cause or fundraiser.
One of the cool things about the concept is the way Signifty gamifies the whole process: the celeb creating the NFT collection is the mission “Hero” while buyers are awarded legendary NFTs for helping to complete Global Missions in conjunction with the Hero. An NFT drop that sells out, for instance, will culminate in mission completion. It’s a neat way of mapping donations to outcomes, and showing that funds raised are going directly to the corresponding cause.
If the caliber of projects represented at ETH Barcelona is anything to go on, the future of crypto giving is in good hands. Platforms such as Giveth, The Giving Block, and Signifty are demonstrating that it’s possible to create a positive social impact while still having fun. In doing so, they’re extending crypto’s utility and showcasing it as a force for good.
Image by GLady from Pixabay
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Why Bitcoin Must Meet These Conditions If It Wants To Stay Above $20K
Bitcoin managed to break above the resistance level above ,000 and seems poised for further gains. The cryptocurrency records its first week in the green after relentless selling pressure pushed it to a multi-year low of around ,000.
Related Reading | Why Weakening Bearish Bitcoin Momentum Could Give Bulls The Upper Hand
At the time of writing, Bitcoin (BTC) trades at ,700 with a 5% and 12% profit in the last 24 hours and 7 days respectively.
BTC’s price trends to the downside on the 4-hour chart. Source: BTCUSD Tradingview
Data from Material Indicators (MI) shows an increase in bid orders for BTC’s price as it moves to ,000. The cryptocurrency records around million in bid orders at ,800 and ,500 alone.
As seen below, these levels were previously unprotected and were susceptible to further downside. In lower timeframes, it seems as if investors have been forming a liquidity shield for BTC’s price at its current levels.
The current bullish price action was preceded by an increase in buying pressure from BTC whales. MI data shows these large entities have been buying more Bitcoin since the start of July and influenced BTC’s price to the upside.
The data shows a slight decrease in the buying pressure, which could indicate BTC’s price will return to a consolidation phase. In order to sustain the bullish momentum, analysts from Material Indicators claimed BTC’s price must stay above ,000 for the next two days.
BTC’s price (blue line) sees more support around ,500 and ,800 (bid orders in red). Source: Material Indicators
In order to extend the bullish momentum, the cryptocurrency must reclaim the 200 Weekly Moving Average (WMA) which stands at ,560. Analyst Michaël Van de Poppe concurs on potential price consolidation before any attempt to reclaim higher levels:
The crucial resistance for #Bitcoin as we speak. (Volume has to do with the fact that Binance has added the zero trading fees) Looking good overall but wouldn’t be surprised with some slight consolidation before a big breakout occurs.
What Could Get In The Way Of A Fresh Bitcoin Rally
According to economist Alex Krüger, the U.S. Federal Reserve (Fed) is still the most important headwind for BTC’s price. The financial institution has been trying to slow down inflation by hiking interest rates.
However, the Fed believes any potential negative impact from an interest rate hike or decreasing its balance sheet, Quantitative Tightening (QT), is already priced in. Thus, why the potential for future downside has been potentially reduced, Krüger said:
Unless inflation surprises considerably to the upside, the Fed is fine with things as they are, and monetary policy tightening is mostly in the price. QT won’t destroy markets. Major moves require an information shock, which then leads to a shift in equilibrium.
Related Reading | Solana Glints With 14% 3-Day Rally – Will SOL Keep On Beaming?
The next major obstacle to BTC’s price could be the traditional companies’ earnings season. If stocks trade to the downside as a result of an economic slowdown, the already highly correlated crypto market could follow.
Binance ‘s CEO Visits El Salvador. What Will He Meet President Bukele About?
It was about time that Binance ’s CEO, Changpeng Zhao, visited El Salvador. His company is the biggest cryptocurrency exchange in the world and El Salvador is the first country to adopt bitcoin as legal tender, why did this take so long? According to the Secretariat of Communications of the Presidency of the Republic of El Salvador, Binance’s CEO is visiting the country “along with other entrepreneurs, who are interested in knowing the investment possibilities.”
Hoy llegó a El Salvador el CEO y fundador de @BinanceES, Changpeng Zhao (@cz_binance), junto a otros empresarios, quienes están interesados en conocer las posibilidades de inversión, en el primer país del mundo que adoptó el #Bitcoin como moneda de curso legal. pic.twitter.com/XBYVwyZ8Dd
— Secretaría de Comunicaciones (@ComunicacionSV) March 23, 2022
What will Changpeng Zhao meet President Bukele about? Reuters caused quite the commotion when they tried to guess.
Related Reading | Binance’s CZ Wants Entrepreneurs To Create Coins. Does His Argument Make Sense?
What Did Reuters Say About Binance ’s CEO Visit To El Salvador?
As far as Reuters is concerned, CZ is visiting El Salvador to assist them with the issuance of the volcano bonds. They literally said:
“El Salvador is seeking support from cryptocurrency exchange Binance for its implementation of bitcoin as legal tender and the issuance of bitcoin bonds, the Central American country’s ambassador to the United States said on Wednesday.”
Is that what he’s here about, though? In the closest source we found, EFE quotes Mayorga telling “local media,” “We need businessmen his stature to support the issue of subscription to the volcano bonds.” In the ambassador’s Twitter account, Milena Mayorga welcomes Changpeng Zhao, CEO of Binance, “with the largest cryptocurrency wallet in the world.” Don’t ask.
Hemos dado la bienvenida a Changpeng Zhao @cz_binance, CEO de @binance, con la wallet de criptodivisas más grande del mundo.#LibertadEconómica #Bitcoin pic.twitter.com/PBExfF2Lwc
— Milena Mayorga (@MilenaMayorga) March 23, 2022
According to Reuters, “Mayorga said Zhao’s visit was a vote of confidence in Bukele’s decision to adopt bitcoin as legal tender last September, as well as its plan to issue bitcoin-backed bonds.” According to her own tweets, they discussed, “strategic projects such as Bitcoin City, Surf City among others, was what we shared with the delegation of investors from Binance and companies.”
Proyectos estratégicos como #BitcoinCity, #SurfCity entre otros, fue lo que compartimos a la delegación de inversionistas de @binance y empresas que nos acompañan en esta 13 misión de negocios. pic.twitter.com/l6TOJNklAm
— Milena Mayorga (@MilenaMayorga) March 24, 2022
Who’s That Dark Figure Behind Binance ’s CEO?
The visit of one of the great businessmen of our time is most likely a positive for El Salvador. However, who’s that behind him? Could it be…? A pseudonymous Twitter user provides the necessary blown up pictures:
pic.twitter.com/1B38pZkyjW
— mutatrum (@mutatrum) March 23, 2022
That’s right, notorious lurker Brock Pierce. Of course, he is one of the “other entrepreneurs.” If you squint, you can also see him in one of Milena Mayorga’s pictures. Let’s remember what our sister site Bitcoinist reported the first time that the EOS creator lied his way into the Presidential Palace:
“Something is rotten in the state of El Salvador. The first nation to declare BTC as legal tender received no other than the infamous Brock Pierce. An “Official Delegation of Bitcoin Ambassadors” reportedly met with President Bukele and other government officials. However, is there such thing as an “official delegation” of a decentralized protocol? No, there isn’t. And the whole Bitcoin community is up in arms about the situation.”
And just like that, Brock Pierce is back in San Salvador. Who would’ve thought?
BNB price chart on BinanceUS | Source: BNB/USD on TradingView.com
President Bukele Responds To The Rumors
In a since-deleted tweet, Bitcoin Magazine echoed Reuters’ take on the nature of Binance CEO’s visit to El Salvador. President Bukele asked them to “please don’t spread Reuters FUD. The Bitcoin Volcano Bonds will be issued with Bitfinex. The short delay in the issuance is only because we are prioritizing internal pension reform and we have to send that to congress before.”
I’m meeting with @cz_binance tomorrow to discuss OTHER issues, not the Volcano Bonds
Unless he wants to buy some, of course #Bitcoin fixes FUD!
— Nayib Bukele (@nayibbukele) March 23, 2022
To that, President Bukele added “I’m meeting with Changpeng Zhao tomorrow to discuss OTHER issues, not the Volcano Bonds. Unless he wants to buy some, of course.” And Binance CEO responded, “Looking forward to it. Plenty to discuss.” And, to be fair, Reuters also said that “Zhao praised El Salvador for taking on a pioneering role in the adoption of bitcoin and said Bukele’s presidency would be remembered in “heroic” terms for its bold bet on the future.”
Related Reading | Binance’s CZ Explains Why Banning Crypto Ads Won’t Affect Demand
Is Binance CEO’s visit to El Salvador priced in? Will the BTC price move because of it? What about BNB? Will Binance make moves in El Salvador? Does the market care about this historic visit? The next few days will answer all of those questions.
Featured Image: Changpeng Zhao in El Salvador, screenshot from this video | Charts by TradingView
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