Cryptocurrency exchange Bitfinex, in collaboration with USDT issuer Tether, recently launched a digital asset fund and donated over $1 million in bitcoin to assist families in El Salvador affected by the ongoing gang violence in the country.
Crypto Relief Fund Initiative is Bootstrapped With 25 BTC
Bitfinex chief technology officer (CTO) Paolo Ardoino revealed that the company teamed up with Tether to support El Salvadoran families who have been hit by the violence perpetrated by “pandillas” – a Spanish word for “gangs” – in the Central American country.
Both Bitfinex and Tether created a cryptocurrency relief fund to support victims, and have also contributed 25 bitcoin (worth over $1 million at the time of writing), to bootstrap the initiative. According to Ardoino, families in El Salvador are in dire need of support from the crypto community.
A statement from the Bitfinex CTO said:
“Over the past months, I have seen a number of leaders from our community knocking on t