Nayib Bukele, a proponent of bitcoin and the president of El Salvador, along with Changpeng Zhao, the CEO of Binance, have attacked well-known cryptocurrency critic Peter Schiff.
Bukele recalled one of Schiff’s tweets from January of this year, in which he ridiculed BTC and implied that if the price fell any more, MicroStrategy CEO Michael Saylor and Bukele might be forced to sell their BTC holdings. In response, the president of El Salvador enquired about Schiff’s bank.
In reaction to President Bukele’s comment, the CEO of Binance uploaded a meme that he claimed was “appropriate for the situation.” Since El Salvador recognized BTC as official cash last year, President Nayib Bukele has been under fire, even from Schiff.
Since his bank in Puerto Rico was shut down, Peter Schiff has come under fire from BTC supporters. Given Schiff’s position in the bitcoin community as a critic of Bitcoin, many saw it as an opportunity to show the potential of the cryptocurrency to achieve financial freedom.
Due to the alleged negative capital of $1.3 million by the end of 2020 and the fact that “as a result, the company is categorized as insolvent,” regulators “terminated” Euro Pacific International Bank’s operations on July 1. Peter Schiff established Euro Pacific International Bank in Puerto Rico.
On July 4, Schiff used a Twitter thread to explain why the nation’s regulators decided to liquidate the bank rather than approve a sale to a highly qualified buyer “despite no evidence of crimes.”
A meeting between the executives of the central bank and the president of Senegal was mentioned in a tweet by the CEO of Binance. Binance just announced zero-fee trading for 13 BTC spot trading pairs beginning on July 8 as part of its fifth anniversary celebration.
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