El Salvador’s president slams false reports about his bitcoin bonds

El Salvador’s President Nayib Bukele has publicly accused Reuters of trying to create panic by spreading “rumours” about why the country’s $1 billion “volcanic bond” will be delayed.

El Salvador’s President Nayib Bukele tweeted late Wednesday, slamming a Reuters report that Binance CEO Changpeng Zhao (CZ) would save El Salvador’s bitcoin bonds.

“Please don’t spread false information from Reuters,” Bukele told his 3.6 million followers on Twitter, refuting CZ’s future bailout after a $1 billion bond issue originally scheduled for mid-March was delayed until September. project statement. The tweet was in response to a tweet on the subject by Bitcoin Magazine, which has since deleted the post.

Bukele said the delay in the “volcano bond” issue was primarily due to legislative delays in Congress, that his meeting with CZ was not related to the bond issue, and the two intended to discuss “other issues.”

Paolo Ardoino, CTO of Bitfinex — the firm that underwrote the bonds — also helped Bukele explain, saying the delay was largely due to the fact that laws governing bond offerings still needed to be passed by Congress. Samson Mow, the former chief strategy officer of Blockstream, El Salvador’s bond issuance partner, joined in, tweeting that “nothing has changed.”

Earlier this week, El Salvador’s finance minister, Alejandro Zelaya, said a $1 billion bond issue, scheduled for mid-March, would be delayed until September, citing geopolitical uncertainty as the main reason for the delay.

Three hours after slamming the Reuters report, Bukele took to Twitter to complain about the U.S. government, responding to a proposed bill that would try to minimize U.S. influence on El Salvador’s financial system after it adopted bitcoin as legal tender. The El Salvador Crypto Accountability Act passed the committee on Wednesday, where it will be voted on by the full U.S. Senate.

“In my wildest dreams, I never thought the U.S. government would be afraid of what we’re doing here,” Bukele tweeted in response to the news, adding, “The U.S. government doesn’t stand for freedom, it doesn’t Doubtful facts.”

El Salvador is issuing bitcoin-backed bonds as a way to accumulate more bitcoin reserves and to fund the construction of “Bitcoin City,” a development entirely dedicated to bitcoin and related blockchain technology project. It will reportedly use geothermal energy from a nearby volcano to power bitcoin mining as well as the city’s infrastructure. Half of the $1 billion proceeds will be used for construction costs, and the remaining $500 million will be invested directly in Bitcoin.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/el-salvadors-president-slams-false-reports-about-his-bitcoin-bonds/
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