False information circulating online suggests that El Salvadoran President Nayib Bukele is seeking the immediate extradition of FTX CEO Sam Bankman-Fried and Alameda Research co-CEO Sam Trabucco for their crimes of losing El Salvadoran bitcoins.
Binance CEO Changpeng Zhao quelled the rumors on his Twitter account, saying that “the amount of misinformation is insane” and that he “just exchanged information with President Nayeb.” He said President Booker told him, “We don’t have any bitcoins in FTX, we’ve never had any business with them. Thank God!”
Man, the amount of misinformation is insane.
I just exchanged information with President Nayib. “We don’t have any bitcoins in FTX, we’ve never had any business with them. Thank God!” he said. https://t.co/CrM5wd24Ha
— CZ Binance (@cz_binance) November 10, 2022
Billionaire Mike Novogratz apologized to President Bukele and the people of El Salvador on his Twitter account in an interview with CNBC for spreading misinformation in a video that has since been removed, And shared, “I fell for ‘fake news,’ and while I mentioned I didn’t confirm, I should.” Novogratz thanked Binance’s CZ for “pointing this out.”
Apologize @nayibbukele and the people of El Salvador. I’m in love with “fake news” and while I mentioned I didn’t confirm it, I should.
thanks @cz_binance point out.
I absolutely love what you are doing in El Salvador.
— Mike Novogratz (@novogratz) November 10, 2022
related: El Salvador’s Bitcoin Decision: Tracking Adoption One Year Later
El Salvador has reportedly purchased 2,301 bitcoins (BTC) for about $103.9 million since 2021. El Salvador’s government says it sees BTC as a powerful tool to attract foreign investment, create new jobs and reduce reliance on the U.S. dollar. President Bukele has previously mentioned that the main focus of the endorsement of BTC is to provide banking services to over 80% of unbanked Salvadorans.
After the fallout from FTX’s bankruptcy issues, rumors began to circulate online that the Central American country El Salvador made history in 2021 by making bitcoin legal tender because it was in trouble for holding some or all of its bitcoin in FTX.