It’s been just revealed that El Salvador’s Nayib Bukele has some interesting things to say about Bitcoin. Check out the latest reports about the king coin below.
El Salvador’s Nayib Bukele addressed the state of Bitcoin in today’s crypto space following the collapse of FTX.
Bitcoin vs FTX
Here’s what he had to say via a Twitter post.
FTX is the opposite of #Bitcoin #Bitcoin ’s protocol was created precisely to prevent Ponzi schemes, bank runs, Enron’s, WorldCom’s, Bernie Madoff’s, Sam Bankman-Fried’s…
…bailouts and wealth reassignments.
Some understand it, some not yet.
We’re still early.
— Nayib Bukele (@nayibbukele) November 14, 2022
Someone responded with this to the El Salvador president:
No person controls #bitcoin. No single entity is the owner of #Bitcoin. This is why everyone globally is able to invest in #bitcoin from #Elsalvador, #India, #Syria, #Haiti, #Nigeria ect.#Bitcoin was created to remove corrupt and flawed central authorizes.#Bitcoin > #FTX pic.twitter.com/uukuxyumHi
— ₿itcoin Xoe 🇭🇹 (@Bitcoin_Xoe) November 14, 2022
Crypto markets explode
The crypto markets exploded in the light of the latest events.
The announcement from Binance CEO Changpeng Zhao has triggered an immediate rise in the price of Bitcoin and the overall crypto markets.
Zhao explained to everyone that he’s forming an “industry recovery fund” to support companies and projects that are struggling with liquidity in the aftermath of the collapse of FTX.
“To reduce further cascading negative effects of FTX, Binance is forming an industry recovery fund, to help projects who are otherwise strong, but in a liquidity crisis. More details to come soon. In the meantime, please contact Binance Labs if you think you qualify.”
He continued and said the following:
“Also welcome other industry players with cash who wants to co-invest. Crypto is not going away. We are still here. Let’s rebuild.”
Stay tuned for more news.