Peter Schiff Is Finding The End Of BTC Supporters Since His Bank Closes In Puerto Rico
Bitcoin Bull and El Salvadoran President, nb bukeleAlong with the CEO of Binance, Changpeng Zhao has taken aim at renowned cryptocurrency critic Peter Schiff.
How is your bank doing?
— nayibbukele (@nayibbukele) 6 July 2022
Bukele recalled a tweet by Schiff in January of this year in which he criticized BTC and suggested that Microstrategy CEO Michael Sayer and Bukele may have no choice but to give up their BTC holdings if The price drops further. The President of El Salvador responded by asking about Schiff’s bank.
It’s a bit old, but well suited for this purpose. I pic.twitter.com/coUP7gIaCR
— CZ Binance (@cz_binance) 7 July 2022
Binance CEO Posted, in response to President Bukele’s reply, a meme he said was “fit for this purpose”. El Salvador President Nayib Bukele has also received criticism from Schiff, as El Salvador accepted BTC as legal tender last year.
Peter Schiff has been facing a slew of BTC supporters since the closure of his bank in Puerto Rico. Given Schiff’s reputation as a critic of bitcoin in the crypto community, many see it as an opportunity to demonstrate the potential of cryptocurrencies to achieve financial freedom.
Regulators on July 1 “shut down” Euro Pacific International Bank’s operations by the end of 2020 due to an alleged negative capitalization of $1.3 million and the fact that “as a result, the entity is classified as insolvent. ” Euro Pacific International Bank was founded by Peter Schiff in Puerto Rico.
On July 4, Schiff used a source on Twitter to explain why the country’s regulators had decided not to approve the sale to a highly qualified buyer “despite no evidence of guilt”, but to a bank. Proceed to close.
As reported by U.Today, El Salvador bought nearly $1.5 million worth of bitcoin amid the recent market crash, bringing its total to 2,318 bitcoins.
Binance CEO meets with Senegal’s President
In Senegal , met with His Excellency the President of the Central Bank and Binance Angels. pic.twitter.com/7Bmsd9MoLv
— CZ Binance (@cz_binance) 6 July 2022
Binance CEO Has tweeted about the meeting with the President of Senegal and the officials of the Central Bank. Binance recently celebrated its fifth anniversary, during which it announced zero-fee trading for 13 BTC spot trading pairs starting July 8.