No, El Salvador did not store its bitcoins on FTX

It would have been a lot – First country to have recognized Bitcoin as legal tender on its soil, El Salvador is opening up to cryptos. Its president Nayib Bukele is a staunch bitcoiner who promotes the topic whenever he can (even more so during the bull market). Bukele is easy to tweet and has accustomed us over the months to announcing publicly each time he “bought the dip on BTC” on behalf of El Salvador. Communication and risk management criticized on the networks, but not as much as if the country saw its precious BTC frozen on the insolvent FTX platform.

El Salvador deprived of BTC? It was just a rumor

When we remember Nayib Bukele tweeting that he was doing the sales by buying bitcoins from his toilet, we can legitimately wonder what risk management surrounded these crypto purchases. In addition to a market that has continued to decline since its first purchases in 2021, the management and custody of its BTCs raise questions.

And the current slump has brought up the subject, thanks to a smart guy who pretended to be a very popular news account. The impostor’s tweet implied that Nayib Bukele was actively looking for Sam Bankman-Fried, the CEO of FTX.

The real @tier10k account retweets the fake @stormxbt account that started the El Salvador bitcoin rumor

“We demand the immediate extradition of SBF and Trabucco, Washington must respond within 48 hours” otherwise… Otherwise nothing given that it is fake news, which nevertheless took off to be taken live on CNBC by a guest.

Mike Novogratz, took this tweet at face value and raised the possibility during an interview on Thursday.

Binance boss Changpeng Zhao denied that FTX hosted Salvadoran BTCs, after trading with Nayib Bukele, as the reports BitcoinMagazine.

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