After it was suggested that the President of El Salvador Nayib Bukele was holding some of the nation’s Bitcoin on the FTX cryptocurrency exchange, the CEO of Binance, Changpeng Zhao (CZ), came out to update the crypto space on the alleged rumors.
On November 10, CZ took to Twitter to clarify the online misinformation after Billionaire Mike Novogratz, a supporter of the Terra (LUNA) ecosystem before its collapse, suggested that El Salvador owned Bitcoin on FTX during an interview with CNBC’s Squawk Box:
“I don’t know if it’s true the El Salvadorian government’s crypto was on FTX, and they were calling for the extradition of Sam [Bankman-Fried]. The fallout will be far.”
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In response, CZ exposed the misinformation and disclosed his messages with the President from earlier today (November 10):
“Man, the amount of misinformation is insane. I exchanged messages with President Nayib a few moments ago. He said, “we don’t have any Bitcoin in FTX, and we never had any business with them. Thank God!”
Bitcoin community fights back against Novogratz
It’s worth mentioning that these comments did not go down well with other crypto community members like Stacey Herbert from the ‘Max & Stacey report‘ tweeting Squawk Box needs to correct the statement.
A short while afterward, Novogratz hurriedly extended his apologies to President Buckle as well as the citizens of El Salvador, stating he fell for the ‘fake news’, and added, “while I mentioned I hadn’t confirmed it, I should have.”
Meanwhile, despite being hampered by the ongoing debacle surrounding FTX, Bitcoin (BTC) has managed to rebound, adding $15 billion in 15 minutes after the new U.S. Consumer Price Index (CPI) report revealed better results for October than previously expected, stopping the decline of the largest digital asset.
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