Nayib Bukele: FTX is the opposite of Bitcoin

The president of El Salvador has joined in giving his opinion on the FTX exchange debacle.

Few hours ago, the president of El Salvador, Nayib Bukele, launched on Twitter his opinion on the FTX case, making a comparison between the collapsed exchange platform and the electronic cash network Bitcoin.

- Advertisement -

For the president, “FTX is the opposite of Bitcoin” since this protocol “was created precisely to prevent Ponzi schemes, bank runs, the likes of Enron, WorldCom, the Bernie Madoffs, the Sam Bankman-Fried…”.

With this he makes a clear allusion to historical financial catastrophes, their involved and includes the creator of FTX as one more of these cases.

He adds that this technology also avoids “bailouts and reallocations of wealth”, something that Satoshi Nakamoto himself, creator of Bitcoin, referred to in the first group of transactions of this network, the genesis block, by anchoring as metadata the message “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”.

This message refers to a headline published that day in The Times of the United Kingdom, translated as “Chancellor on brink of second bailout for banks”.

Likewise, Bukele, who achieved the legalization of this digital currency in his country, says that Bitcoin, launched as a network in January 2009, “Some understand it, others still don’t. We are still early. We are still early.” And he ends his message with “🌎/21m” pointing to the scheduled shortage of 21 million coins, which would be divided among all the inhabitants of the world.

Previous Articles:

- Advertisement -

Latest News

Prosecutors Weigh Charges Against Dragonfly Over Tornado Cash Ties

U.S. prosecutors are considering charges against Dragonfly Capital over its investment in Tornado Cash’s...

Prosecutors Weigh Charges Against Dragonfly Capital Over Tornado Cash

Prosecutors in New York said they may file criminal charges against employees at Dragonfly...

US, UK Employees Risk Data Leaks Using Chinese GenAI Tools, Study Finds

Employee use of Chinese generative AI tools in the US and UK is widespread...

Chris Larsen Sells $175M XRP, Sparks Centralization Concerns

Chris Larsen, Ripple's co-founder, transferred $175 million in XRP during a recent price rally,...

GENIUS Act Spurs Debate Over Stablecoin Redemption and Run Risks

The U.S. GENIUS Act on stablecoins has raised concerns about the safety and redemption...

Must Read

Forex Trading Vs Crypto Trading: Which One Should You Choose?

So you're trying to decide between two types of trading: Forex and cryptocurrency.Forex trading is the big player in the trading world, with lots...