• El Salvador’s president Nayib Bukele berated biased media outlets who predicted the country would face debt defaults due to losses from the crypto winter.
• Bukele pointed out that El Salvador successfully repaid its $800 million dollar bond without any external aid.
• Bukele has been a vocal advocate for the use of bitcoin and has been promoting it as a solution to the country’s economic challenges.
The President of El Salvador, Nayib Bukele, recently spoke out against media outlets that have perpetuated biased and inaccurate reports about the country’s financial situation. In a tweet on January 24, 2023, Bukele highlighted the success of El Salvador in repaying its $800 million dollar bond without any external aid, despite the negative predictions of some media outlets. This news comes at a time when El Salvador has been at the center of global attention since it became the first country to make bitcoin legal tender in 2021.
Bukele has been a vocal advocate for the use of bitcoin and has been promoting it as a solution to the country’s economic challenges. He believes that the digital currency has the potential to attract investment and create new opportunities for El Salvador. Additionally, Bukele has pointed out that the crypto winter that led to the decline in bitcoin price made media outlets predict debt defaults and financial doldrums for El Salvador’s Economy.
In his tweet, Bukele noted the lack of coverage of the successful payment of the bond, and he expressed his frustration at the legacy media outlets for their biased disposition towards the country. He accused them of “lying and lying and lying” and then going silent when their lies were exposed. Bukele also encouraged citizens of El Salvador to embrace bitcoin, claiming that it is a “powerful tool” that can help the country’s economic development.
The president of El Salvador has made his stance clear: that media outlets should not be so quick to make baseless predictions about the country’s financial situation. His advocacy for the use of bitcoin and other digital currencies is also an indication of his commitment to creating a better future for El Salvador and its citizens.
•Tether (USDT), the dominant stablecoin, has surpassed payment operators Mastercard and Visa in transaction volume processed in 2022.
•The data, sourced from CoinGecko and Mastercard and Visa’s respective websites, indicates that the use of stablecoins is on the rise.
•Despite the overall challenges faced by the cryptocurrency market in 2022, the increasing use of stablecoins highlights the continuous growth of the blockchain industry.
The rise of stablecoins in the blockchain industry has been a remarkable story. In 2022, Tether (USDT), the dominant stablecoin, has surpassed payment operators Mastercard and Visa in transaction volume processed. This news, sourced from CoinGecko and Mastercard and Visa’s respective websites, indicates that the use of stablecoins is on the rise and highlights the continuous growth of the blockchain industry.
USDT handled around $18.2 trillion worth of transactions in 2022, while Mastercard processed $14.1 trillion and Visa processed $7.7 trillion. This impressive milestone was met with mixed reactions on Twitter, with some pointing to „fake volume“ and „wash trading“ to dismiss the validity of the data. Many users in the cryptosphere distrust tether, citing a lack of transparency in the company’s operations. The company is responsible for regularly issuing large sums of money on the blockchain, with many accusing it of printing money at will.
Despite these concerns, the increasing use of stablecoins highlights the immense potential of blockchain technology and its ability to provide users with improved speed and privacy. Furthermore, the increasing use of stablecoins could help to drive further adoption of cryptocurrencies, as it provides users with an easier entry point into the industry.
The rise of stablecoins is a positive development for the blockchain industry, and it will be interesting to see how it continues to progress over the coming years. With the increasing popularity of stablecoins, more companies and users may be enticed to join the blockchain revolution, allowing the industry to reach new heights.
• A community member accused by Terraform Labs (TFL) of refusing to return misallocated airdrops has responded, denying the accusations.
• The community member, Jimmy Le, stated that he had been working hand-in-hand with the company in resolving the issue.
• Jimmy said the problem began in May of 2022, when the organization’s CEO, Do Kwon, posted a criterion on reviving the organization’s ecosystem via government approval.
Recently, a member of the Terraform Labs (TFL) community, Jimmy Le, has come forward to refute allegations made by the blockchain organization that he had refused to return mistakenly donated airdrops. In a statement released on his Twitter account @stablejim, Jimmy clarified that he had been actively engaged in resolving the issue with TFL instead of ignoring requests.
The genesis of the issue dates back to May of 2022, when the CEO and founder of Terra (LUNA), Do Kwon, posted a criterion on reviving the organization’s ecosystem via government approval. Do Kwon then outlined the measures for holders to acquire LUNA depending on when and how much they held USTC.
Jimmy Le stated that he collaborated with TFL to resolve the situation from the start, and was never unresponsive or neglectful. He explained that he had been transparent and provided details on his activities to the organization and the community.
According to Jimmy, he had been working with TFL to find a resolution to the problem, but the blockchain organization had inadequate communication strategies. He also accused TFL of presenting only one perspective on the Genesis airdrop incident and omitting certain details.
Jimmy concluded his statement by emphasizing that he had been cooperating with TFL throughout the resolution process and that he was never unresponsive or neglectful. He also urged TFL to provide a more detailed account of the incident and to improve their communication strategies.
• Worlds, an industrial metaverse firm, recently completed a $21.2 million Series A1 funding round.
• The funds will be used to bolster its AI solutions and expand its technology.
• The global metaverse market is expected to grow from $61.8 billion in 2022 to over $426 billion by 2027.
Worlds Enterprises, Inc., a web3 project that claims to have developed a 4D system for building the industrial metaverse, has recently announced the completion of its $21.2 million Series A1 funding round. The round was led by U.S.-based venture capital firm Moneta Ventures, with participation from Chevron Technology Ventures, Piva Capital and more.
Worlds is an industrial metaverse firm that aims to bring artificial intelligence (AI) based automation to the operations of large firms in various industries. The firm believes that its solution will help companies unlock unrealized value by allowing them to measure, analyze, and reimagine their businesses. With the recent funding round, Worlds will be able to bolster its AI solutions and further expand its technology.
The industrial metaverse project is an especially timely development, given that many web3 projects and businesses related to bitcoin (BTC) have been forced to lay off workers or shutter operations due to the prolonged market downturn and FTX contagion. This makes Worlds‘ success even more impressive, as the firm has managed to secure the needed funds despite the current crypto winter.
Experts project the global metaverse market to grow from $61.8 billion in 2022 to over $426 billion by 2027. This is a compound annual growth rate (CAGR) of 47.2%. Companies that are able to take advantage of this growth are likely to be well positioned to succeed in the future. With its recent Series A1 funding round, Worlds is well positioned to capitalize on this growth.