Nayib Bukele

The crypto community took a victory lap Tuesday with the news that the price of Bitcoin hit an all-time high of $69,210. Those celebrations cooled when the value dropped a full 8% just a few hours later, but it marked a stunning recovery from the crypto crash of 2022. For the fans, Bitcoin’s rally was evidence that cryptocurrency is a good investment after all. There’s just one problem: adjusted for inflation, Bitcoin is actually worth less than it was three years ago. He Tossed His Bitcoin, Now He Wants It BackLet’s do…

El Salvador's ruling party lawmakers approved a bill to eliminate for 15 years taxes on companies developing artificial intelligence (AI) and other computer programming work in a bid to make the country a more attractive tech destination. The tech tax cut was championed by President Nayib Bukele, who first touted the legislation late last month. Bukele's New Ideas Party dominates the country's Congress. The bill exempts eligible companies from income tax, capital gains and local government taxes, as well as tariff…

Photo: Handout (Getty Images)El Salvador, which has already lost tens of millions of taxpayer dollars on its authoritarian millennial president’s beleaguered effort to embrace cryptocurrencies, now says it plans to open a “bitcoin embassy” in Texas. The Central American country’s continued commitment to bitcoin comes despite last year’s crypto winter and surveys showing the overwhelming majority of its citizens have simply never used it. Milena Mayorga, the country’s ambassador to the U.S. says she discussed the embassy…

El Salvador’s President Nayib Bukele has proved his dislike of journalists in the past, and a report from this year showed his government used Pegasus spyware to infect reporters’ phones.Photo: MARVIN RECINOS/AF (Getty Images)A number of El Salvador-based journalists are suing the notorious makers of the prolific Pegasus spyware suite in U.S. court, alleging the company sold the repressive Bukele regime spyware used to hack their phones.In the lawsuit filed on Wednesday in federal court in San Jose, California, attorneys…

Salvadoran President Nayib Bukele speaks in La Libertad, El Salvador, on August 26, 2022.Photo: Alex Pena/Anadolu Agency (Getty Images)Nayib Bukele, the president of El Salvador, announced late Wednesday that his government plans to buy one Bitcoin every day starting on Thursday. And while Bukele hasn’t said when the purchases will stop, it will likely prove a shockingly dumb decision, based on the massive loss he’s already taken by buying bitcoin at an all-time-high last year.“We are buying one #Bitcoin every day…

Nayib Bukele, El Salvador’s bitcoin president. Photo: Marvin Recinos (Getty Images)Shocker folks, it turns out El Salvador’s decision to make bitcoin legal tender wasn’t such a great idea after all.This week, credit agency Fitch downgraded El Salvador’s debt rating from CCC to CC around 14 months after the company’s tech bro president and budding authoritarian, Nayib Bukele, made Bitcoin a nationally recognized legal currency. That credit ding, according to CoinDesk, stems partly from the country’s embrace of bitcoin…

Photo: No-Mad (Shutterstock)Truth Social, the Twitter-like social platform for the ultra-right and Trump sycophants, has a QAnon problem (yes, I heard your collective gasp). More than that, conspiracist accounts have become a celebrated and regular part of the greater Truth Social community, thanks to major Republican officials and the titular former president himself “retruthing” the conspiracist nonsense (alright, you can stop gasping—the collective shock has truly run dry).Researchers with media watchdog group…