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Apr 12, 2022
Bitfinex and Tether Set Up Relief Fund To Help Affected El Salvador Citizens
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The digital space has yet again taken matters into its hands after the Ukrainian crisis, by intervening in El Salvador's ongoing gang violence. The widely-renowned cryptocurrency Tether owned by popular crypto exchange Bitfinex has raised 36 Bitcoin (BTC) to help families in El Salvador.
CTO of Bitfinex and Tether, Paolo Ardoino took to Twitter to share the link to the Bitcoin address where the funds will be raised.
The Crypto Community Chips In
At the beginning of the fundraising, Bitfinex and Tether had donated 25 Bitcoin worth $1 million, using BTC's current rate. On April 11, the value increased to 36 Bitcoin which is approximately worth $1.5 million.
Ardoino also highlights the efforts led by President Nayib Bukele to adopt Bitcoin in El Salvador. In his Twitter thread, he applauded the initiative taken by the country's government and the populace.
With the aim to achieve a better, fair, and resilient monetary system for El Salvador, Paolo Ardoino urges the crypto community to support the citizens of the country.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Priyanka is an active crypto enthusiast. Having graduated with a BA in Journalism and Mass Communication, she is a passionate content writer with a strong understanding of financial content. She has been writing on crypto and blockchain-related topics for the last three years and is an active trader.