Tether (USDT) CTO Paolo Ardoino announced on Twitter that Bitfinex and Tether have created a Bitcoin fund to help the families of those who were murdered by gangs in El Salvador.
"Bitfinex and Tether have set up a relief fund to help the families of the people affected by the pandillas in El Salvador."
$1M Initially Transferred to El Salvador Relief Fund
Paolo Ardoino added that they have donated 25 Bitcoins worth $1 million to start the Bitcoin charity fund. Ardoino praised El Salvador's president Nayib Bukele's "heroic" fight for his country's financial freedom since last year. The famous CTO said that the government and people of El Salvador are striving to create a better, fairer and more resilient financial system, while El Salvadoran families need their support right now.
Tether CTO stated that for months, representatives of the crypto community went to El Salvador to take pictures with Bukele and offered their support to this country, and now it is time to help victims' families in this country.
Criticizing the leaders of the cryptocurrency community, Ardoino said El Salvador should be helped instead of buying luxury cars and jets. After that, Ardoino shared his Bitcoin address, which can be used to donate to the country, with his followers.
In addition, Tether CTO said that the donated cryptocurrencies will be used in cooperation with the local government and will be subject to strict control to ensure fair distribution.