according to Bitcoin archiveTo boost the local Soyapango economy, El Salvador entrepreneurs operating in the region can claim a $ 100,000 Bitcoin grant.
💥 El Salvador: $ 100,000 #Bitcoin A grant given to entrepreneurs in the municipality of Soyapango to boost the local economy. 🙌
— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) June 26, 2022
Soyapango With 290,000 inhabitants, it is the third most densely populated area in El Salvador. Located east of the capital San Salvador, Soya Pango is the main road to the eastern part of the country.
Articles dated 2018 France24 Soyapango explained that the gang acted as a local government and was a violent area where lawn wars between rivals were common.
“Residents live in fear without road maintenance, garbage collection, or even hospitals. But the biggest problem is going to a neighborhood dominated by rival gangsters.”
Locals tend to leave “to survive” and local businesses face the threat of paying protection rackets.
El Salvador gangster
However, innocent people were randomly shot dead in late March, killing 62 people, triggering a more robust approach to the problem.
At that time, the Legislative Assembly enacted emergency powers to suspend certain civil liberties, including expanding the scope of arrestable crimes. It was said to be valid for 30 days from March 27th.
according to Reuters, Emergency measures were extended three times on June 25, suggesting that the situation was out of control. Christian Guevara, leader of the ruling New Ideas party, said the extension was what people wanted.
“We are determined to support as much as we need at the request of the government, not just another (extension), because that’s what people want.”
According to a survey, 70% of El Salvadorans consider these actions necessary to reduce gang crimes.
Bitfinex submits bill
Currently, there are no public details regarding the grant, such as the application and qualification process.
A Tweet The State Communications Secretary said Soya Pango entrepreneurs could receive a $ 100,000 Bitcoin “donation” funded by Bitfinex “to boost the local economy.”
El Salvador en La Mirade #Bitcoiners intern acionales. 🌎💸
Hoy emprendedores de Soyapango reciben un donativo en #Bitcoin valorado en $ 100,000 por parte de @bitfinex con el finde potenciarlae conomía de la zonona. 🤩 pic.twitter.com/9Sxzz11H3J
— Secretaría de Comunicaciones 🇸🇻 (@ComunicacionSV) June 24, 2022
April, Bitfinex CTO Paolo Aldoino Bitfinex and Tether tweeted that they have set up a relief fund to help those affected by the El Salvadoran gang. Both companies donated 25 BTC to get things started.
Bitfinex is a popular service provider for operating the Volcano Bond scheme in El Salvador. The scheme will increase government funding with the proposed Bitcoin City construction and fund the development of the infrastructure.
The project was scheduled to roll out earlier this year.But late for market conditions..
