Bitfinex has just announced that it is set to donate 36 Bitcoins (BTC) and 600,000 USD, or approximately $1.4 million in total, to small businesses in El Salvador struggling against the aggressiveness of certain gangs.
#Bitfinex has donated 36 $BTC and $600K in $USDT to help communities and small businesses in El Salvador 🎉
Let’s aim to bring prosperity and economic freedom to more communities through $BTC and Tether! https://t.co/GopIkBXQhH
— Bitfinex (@bitfinex) July 14, 2022
According to an official statement, many brands located in the heart of underprivileged areas are regularly extorted money by “street gangs.” As a result, this fund will be used to financially support and encourage these companies in great difficulty, located mainly in the cities of llopango, Soyapango, and Apopa.
On the other hand, this intervention aims to support ecological initiatives by helping certain “green” companies that employ local citizens, in particular, to reduce water pollution or clean up waste in the streets.
In addition, the donation will be made in collaboration with Max Keiser and Stacy Herbert, two precursors of Bitcoin (BTC) who now live in El Salvador.
Additionally, Bitfinex reveals that its Hong Kong-based parent company, iFinex Inc., is currently working with the government of El Salvador to develop a “regulatory framework on digital assets and securities.”
El Salvador is now ranked as the most dangerous country in Latin America, behind Honduras. However, it is also the world’s first country to recognize Bitcoin (BTC) as legal tender.
- Bitcoin
- Bitcoin News
- blockchain
- blockchain compliance
- blockchain conference
- BTC
- coinbase
- coingenius
- Coinnounce
- Consensus
- crypto conference
- crypto mining
- Crypto News
- cryptocurrencies
- cryptocurrency
- Cryptocurrency News
- decentralized
- DeFi
- Digital Assets
- ethereum
- machine learning
- non fungible token
- plato
- plato ai
- Plato Data Intelligence
- Platoblockchain
- PlatoData
- platogaming
- Polygon
- proof of stake
- trending
- W3
- zephyrnet