El Salvador President Confirms: No Bitcoin in FTX

El Salvador has been one of the pioneers in adopting bitcoin as a currency. However, amid the recent FTX collapse, concerns arose about the safety of the nation's Bitcoin holdings. After it was claimed that El Salvador’s president, Nayib Bukele, was holding part of the country’s Bitcoin on the FTX cryptocurrency exchange, anxieties spread quickly.

Responding to these concerns, President Nayib Bukele, also known as “The Bitcoin President”, claims to have never had any ties to the FTX crypto exchange. El Salvador has been steadfast in its Bitcoin strategy, but the country denied Novogratz's information to billionaire Changpeng Zhao, the CEO of Binance. This denial comes after speculation fueled by the rapidly changing situation surrounding FTX.

Changpeng Zhao (CZ), el empresario chino-canadiense y CEO de la plataforma Binance, la cual desistió de comprar a su competidora FTX, informó este jueves que se... [The implications are clear]: El Salvador has publicly distanced itself from the troubled exchange.

False information spreading online suggested that the president of El Salvador, Nayib Bukele, was seeking the immediate extradition of FTX CEO Sam Bankman-Fried. However, this has been refuted. The primary concern focused on whether the nation's Bitcoin reserves were exposed to the FTX debacle.

El Salvador’s president – who once admitted buying Bitcoin on his phone while naked – today assured his constituents that the country’s crypto holdings were safe and secure. The clarification reinforces El Salvador's commitment to Bitcoin while emphasizing its independence from the financial risks associated with FTX. The message is simple: El Salvador has no Bitcoin in FTX.