Bitfinex and Tether Donate 25 BTC to Support El Salvadoran Families Hit by Gang Violence

Bitfinex, in partnership with USDT issuer Tether, has created a digital asset fund and donated over $1 million in bitcoin to help families in El Salvador harmed by the country’s ongoing gang violence.

Bitfinex chief technical officer (CTO) Paolo Ardoino said that the company has partnered with Tether to support El Salvadoran families affected by the violence perpetrated by “pandillas” – a Spanish word for “gangs” – in the Central American country.

Bitfinex and Tether both launched a cryptocurrency relief fund to assist victims, and each donated 25 bitcoin (worth moreover $1 million at the time of writing) to start the campaign. Families in El Salvador, according to Ardoino, are in desperate need of assistance from the crypto community. A statement from the Bitfinex CTO said:

“Over the past months, I have seen a number of leaders from our community knocking on the president’s door, taking selfies and publicly announcing support. It’s now time to act. Helping families affected by pandillas > buying jets and Lambos.”

Ardoino also encouraged people to make crypto donations, saying that the companies will work with local governments and community groups to guarantee that the gifts are given properly and under careful supervision. In a recent tweet, the Bitfinex executive revealed that close to $2 million in BTC have been donated to assist El Salvadoran families affected by the gang violence.

On March 26, 2022, 62 people were killed in El Salvador, which the government blamed on criminal gangs, in what was described as the most deadly 24-hour period in over 30 years. As a result, the country’s parliament declared a state of emergency the next day, March 27.

Earlier this month, President Nayib Bukele issued a letter indicating that he would not be attending the Bitcoin 2022 Conference due to “unforeseen circumstances” in El Salvador that needed his presence.

Meanwhile, Bukele has taken “tough” strategies to counter the rise in gang-related violence in the troubled Central American country. On April 12, El Salvador’s President tweeted that officials had arrested over 11,000 terrorists in the last 19 days.

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