- El Salvador president called out Bloomberg for publishing “fake news”.
- Bloomberg published the same negative story 11 times in a month.
- Previously, Binance CEO tagged a report by Bloomberg as ‘poop journalism.’
Nayib Bukele, the Bitcoin-lover president of El Salvador, called a publication on Bloomberg fake news. Bukele claimed the article about El Salvador’s failing Bitcoin revolution ‘is full of lies,’ noting that the mainstream media recently started acting as if they cared about his country’s citizens.
Bukele wrote a tweet on Twitter:
In the article, the renowned US-based publishing firm claimed almost no one in El Salvador uses Bitcoin (BTC) and that the few who bought it after the president made it legal tender have lost big, given the current price of the crypto.
Interestingly, the contentious article Bukele tagged marks the eleventh time in the last 30 days Bloomberg is reposting it, criticizing El Salvador and its president. Neil Jacobs, the host of the Bitcoin News Show, believes Bloomberg is trying hard to create propaganda.
Jacobs highlighted the stunt by Bloomberg:
The crypto community believes Bloomberg has been deliberate with its negative reportage about the Bitcoin industry. Last month, the CEO of Binance, Changpeng Zhao, also called out Bloomberg for a misleading news report.
The report claimed Binance’s reserves comprised primarily of an owned token, BUSD, the third largest stablecoin based on supposedly reliable data. CEO Zhao described the write-up as ‘poop journalism,’ clarifying that its exchange was not the issuer of BUSD. Instead, the third-party company Paxos, under the regulation of NYDFS, had been in charge of the BUSD issuance.
Additionally, Zhao said the BUSD tokens under Binance’s watch remain in the form its customers sent them without conversion. Later, Bloomberg took down the erroneous news.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
