BitFinex and Tether Establish Aid Fund for Victims of El Salvador's Brace Gang
In a show of solidarity, the crypto community, led by Paolo Ardoino, CTO of Bitfinex and Tether, has established a relief fund to aid families affected by the ongoing gang violence in El Salvador. Last year, President Nayib Bukele's bold decision to declare Bitcoin a legal tender in the country sparked a wave of support from the crypto community. This support has now taken a new form, as the relief fund aims to encourage other donors to help El Salvadorians in need. The relief fund, comprising 25 Bitcoins, will be deployed in collaboration with the El Salvadorian government and community groups for fair distribution. Paolo Ardoino, who has repeatedly purchased cryptocurrency concepts since last year, has expressed his concern for the situation in El Salvador, stating in a tweet, "Now more than ever, the families of El Salvador need our support." The prominent gangs causing significant disruption in El Salvador are M-18 and MS-13. Many criminal goons involved in homicide and extortion are currently active in the country. Despite the challenges, the relief fund is a testament to the resilience of the El Salvadorian people and the solidarity of the crypto community. In recent months, many crypto community leaders have visited El Salvador to discuss crypto use cases and support netizens who have become victims of gang massacres. The visits have been instrumental in fostering a stronger bond between the crypto community and El Salvador. International organizations, private donors, and local community groups have also joined forces to coordinate aid efforts for families affected by the gang violence in El Salvador. Bitcoin, as a result, has become the cryptocurrency accepted for these aid measures. However, there is no new information about the recent visits by crypto community leaders to El Salvador or the collaboration with the El Salvadorian government or community groups. Additionally, there is no mention of any new crypto addresses or other donation methods in this initiative. As the situation in El Salvador continues to unfold, the crypto community's support for the country remains unwavering. Paolo Ardoino's relief fund initiative is aimed at establishing a fair and resilient monetary system for the future of El Salvador, providing a beacon of hope amidst the ongoing challenges.
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