El Salvador’s bitcoin-friendly president Nayib Bukele is on his way to another five-year term, according to exit polls which show him with an overwhelming lead shortly after voting ended on February 4th.
The result was widely expected as Bukele, who served since 2019 as president, enjoyed great popularity in the country and led in pre-election polling by a large margin.
“According to our numbers, we have won the presidential election with more than 85% of the votes and a minimum of 58 of 60 deputies in the Assembly,” tweeted Bukele.
Bukele made a splash during his first term cracking down on gang violence with mass incarcerations and betting big on bitcoin (BTC). In 2021, El Salvador became the first nation to adopt the largest cryptocy as legal tender, developed and introduced a crypto wallet Chivo to enhance bitcoin adoption and also started buying the asset as an investment. The move, while widely applauded by bitcoin enthusiasts, drew criticism from international organizations such as the International Monetary Foundation (IMF).
The country this year plans to issue its long-awaited bitcoin-backed “Volcano bonds” after receiving regulatory approval in December, which would fund a BTC mining industry powered solely by renewable energy.
Cypherpunk Technologies is expanding its massive bet on Zcash by launching what it calls the…
MapleStory Universe is putting artificial intelligence in the hands of game creators with the launch…
Kalshi is making another major move beyond prediction markets, filing with the Commodity Futures Trading…
Coinbase is bringing high-leverage decentralized derivatives directly into its Base App through an integration with…
Hong Kong's first regulated Hong Kong dollar stablecoin is moving beyond testing and into real-world…
Cybersecurity researchers at Rapid7 have uncovered a sophisticated crypto fraud operation that used nearly 885,000…