DeFi News Daily Official TheBitTimes.com

The International Monetary Fund’s (IMF) executive board approved a $1.4 billion loan with El Salvador on Wednesday that requires the bitcoin-centric state to scale back its involvement with the cryptocurrency.   The deal was initially struck last December and required the approval of the IMF board. Its goal is to strengthen El Salvador’s public finances, governance, and growth while addressing the risks of its “Bitcoin project.” The IMF’s Deputy Managing Director and Acting Chair, Nigel Clarke, said the program, “will confine government engagement in Bitcoin-related economic activities, as well as government transactions in and purchases of bitcoin.” "Globalism" has outmaneuvered Bukele and #Bitcoin.@IMFNews just granted El Salvador a $1.4B loan. In exchange, the Bukele administration agreed to reduce government involvement in #Bitcoin, including halting Bitcoin purchases. Defund @bitcoinofficesv https://t.co/5h26nsBqX6 pic.twitter.com/ux51GWsT5...

In one of the most surprising developments of the leading cryptocurrency’s ongoing bull run, the country of Bhutan has seen a remarkable 39% of its total GDP made up entirely of its Bitcoin investment. Indeed, the accumulation of BTC has now reached $1.14 billion for the small country. Located in the Himalayas, the small nation has seemingly followed the lead of El Salvador. The pro-Bitcoin nation made the crypto legal tender in 2021. Moreover, it has also seen its BTC investment surpass the $1 billion mark, showing the impact that digital assets can have on developing economies. JUST IN: 39% of Bhutan’s GDP is in #Bitcoin, totaling $1.14 billion. — Watcher.Guru (@WatcherGuru) November 20, 2024 Also Read: Bhutan’s Bitcoin Holdings Surpass $1 Billion Amid BTC Bull Run Bhutan Bitcoin Holdings Reach $1.14 Billion as It Dominates Nation’s GDP 2024 has been a monumental year for Bitcoin and should go down as its most important ever. The asset has seen its importance ...

Authorities in El Salvador have unveiled a new citizenship-by-investment program that will provide visas and passports for up to 1,000 people. The country’s authorities and Tether launched the corresponding program. One of the conditions is the desire to invest 1 million US dollars in Bitcoin (BTC) or Tether (USDT) in the country. If all the seats are filled, it is expected to generate $1 billion for El Salvador and become an essential source of income for countries with similar programs, such as Vanuatu, which earns millions of dollars annually from its citizenship by investment program. You might also like: El Salvador pioneers first Bitcoin mining pool, boosting renewable energy However, the cost of citizenship in El Salvador was significantly higher compared to neighboring Caribbean countries, which started at $100,000. In addition, Alistair Milne, founder of cryptocurrency hedge fund Altana Digital Currency, wrote on X (Twitter) that El Salvador’s offer is...

El Salvador is launching its first Bitcoin mining pool, called Lava Pool, aiming to decentralize mining and leverage renewable energy. El Salvador is set to establish its first-ever Bitcoin mining pool after a historic collaboration between Volcano Energy and Luxor Technologies. The initiative aims to harness El Salvador’s distinct regulatory advantages and renewable energy capacity.  While part of this energy will be earmarked for Bitcoin mining , the remaining supply will offer economical electricity options to El Salvador’s local communities. Excited to announce the launch of Lava Pool in collaboration with @LuxorTechTeam. By launching the first #Bitcoin mining pool from El Salvador, we aim to further decentralize bitcoin's hashrate, and to strengthen the country's energy infrastructure. ️ https://t.co/Ef9okyBI5y — Volcano Energy (@Volcano_Energy) October 4, 2023 El Salvador’s strategic ambitions in Bitcoin mining Mining pools are collecti...

Join Our Telegram channel to stay up to date on breaking news coverage McDonald’s, a multinational fast food chain, has said it will accept Bitcoin as payment in Lugano. Lugano is a city in Switzerland that has a population of 63,000 people. The city is becoming quite a hub for cryptocurrency adoption in Western Europe. McDonald’s to accept Bitcoin and USDT payments A video post on Twitter by Bitcoin Magazine on October 3 depicted an order for food on the McDonald’s digital kiosk, after which people paid for the order at a regular register using a mobile application. In the video, the logo of USDT could be seen alongside the Bitcoin symbol on the cash register machine. However, this move is not surprising, given that Lugano announced plans to accept Bitcoin, USDT, and LVGA tokens as legal tender. On March 3 this year, Lugano signed a memorandum of understanding with Tether Operations Limited to launch “Plan B.” The plan involves Tether creating...