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El Salvador Maintains Bitcoin Accumulation Strategy Despite IMF Pressure

El Salvador Maintains Bitcoin Accumulation Strategy Despite IMF Pressure

El Salvador is continuing its strategy of accumulating Bitcoin as a strategic reserve, including its 'one Bitcoin a day' purchasing policy. This commitment persists despite recent changes to the country's digital-asset infrastructure and agreements with the International Monetary Fund (IMF). The National Bitcoin Office has refuted claims of a shift towards stablecoins, reaffirming El Salvador's status as a 'Bitcoin-only country' and stating there are no plans for the government to operate new crypto wallets following the transfer of Chivo Wallet to a private operator. The IMF's latest review confirms that a private entity now holds majority ownership and operational control of Chivo, with the government retaining a minority stake and custodial duties for customer assets. The IMF program, however, does not anticipate further Bitcoin accumulation beyond documented donations, distinguishing between the government's broader Bitcoin vision and specific commitments under the IMF agreement.
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Coinbase's Trillion-Dollar Threshold—and What Got It There

Coinbase's Trillion-Dollar Threshold—and What Got It There

Coinbase has processed trillions of dollars in transactions. We explore the key strategies, from regulatory focus to institutional services, that fueled its rise.
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Citi Raises Bitcoin and Ether Price Targets Amid Strong Crypto Activity

Citi Raises Bitcoin and Ether Price Targets Amid Strong Crypto Activity

Citi Raises Bitcoin and Ether Price Targets Amid Strong Crypto Activity
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IMF Commends GCC Economies' Resilience Amid Global Uncertainty

IMF Commends GCC Economies' Resilience Amid Global Uncertainty

The International Monetary Fund (IMF) has lauded the resilience of Gulf Cooperation Council (GCC) economies and the effectiveness of their economic and financial measures. This commendation was made during a joint meeting of GCC Ministers of Finance and Economy and Central Bank Governors with the Managing Director of the IMF, Kristalina Georgieva, held in Manama, Bahrain. His Excellency Mr. Jasem Mohamed Albudaiwi, Secretary General of the GCC, highlighted that despite a complex economic and geopolitical landscape, including disruptions in energy production, shipping, logistics, and trade, GCC economies have sustained growth momentum. This resilience is attributed to years of prudent economic policies, strong financial buffers, robust banking systems, and strategic investments in infrastructure, connectivity, and economic diversification. The IMF's recognition underscores the GCC's ability to navigate global uncertainties and maintain stability.
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Why Most Investors Misread ASIC Mining

Why Most Investors Misread ASIC Mining

Many investors see ASIC mining as a simple path to crypto wealth, but the reality is far more complex. Here's what they're getting wrong.
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IMF, Argentina talks to continue in coming weeks for third EFF review

IMF, Argentina talks to continue in coming weeks for third EFF review

Oct 1 (Reuters) - The International Monetary Fund said on Thursday it will continue discussions with Argentina over the coming weeks with the view to reaching a staff-level agreement on the third review of the country's extended fund facility program.
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Why BlackRock IBIT and Fidelity FBTC Critics Got One Thing Right

Why BlackRock IBIT and Fidelity FBTC Critics Got One Thing Right

BlackRock's IBIT and Fidelity's FBTC are smashing records, but critics are right about one fundamental flaw: the surrender of self-sovereignty.
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Former Central Bank President Carlos Acevedo States El Salvador's Pension Reform Aims to Stabilize Public Finances, Not Increase Benefits

Former Central Bank President Carlos Acevedo States El Salvador's Pension Reform Aims to Stabilize Public Finances, Not Increase Benefits

Carlos Acevedo, former president of El Salvador's Central Reserve Bank (BCR), stated in an interview published by El Mundo on September 28 that the country's planned pension reform for 2027 is primarily a fiscal measure, not a social one. According to Acevedo, the reform's main objective is to steady public finances rather than to increase pension benefits for retirees. This reform is a component of El Salvador's loan agreement with the International Monetary Fund (IMF), with its implementation date pushed from February 2026 to 2027. The state's debt to private pension funds has significantly increased, reaching US$11.48 billion in March 2026, up from US$8.2 billion at the end of 2022. A 2022 reform halted interest payments on most of this debt, and economist César Villalona estimates the debt will exceed US$12 billion by December, with US$3.58 billion in unpaid interest accrued since 2022. Acevedo suggests that workers with private pension accounts should anticipate a later retirement age or higher contri...
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Senegal's $44 billion debt dilemma: To whom does it owe money and why it matters

Senegal's $44 billion debt dilemma: To whom does it owe money and why it matters

(Fixes typo in paragraph 5) By Libby George LONDON, Sept 29 (Reuters) - Senegal must persuade the International Monetary Fund that its groaning debt pile is on a sustainable path before it can unlock much-needed Fund financing.
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Bitget Restarts Bitcoin Withdrawals After $387.5 Million Wallet Breach

Bitget Restarts Bitcoin Withdrawals After $387.5 Million Wallet Breach

Bitget Restarts Bitcoin Withdrawals After $387.5 Million Wallet Breach
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Former El Salvador Public Works Minister David Gutiérrez Miranda to Face Trial for Embezzlement

Former El Salvador Public Works Minister David Gutiérrez Miranda to Face Trial for Embezzlement

A San Salvador court has ordered David Gutiérrez Miranda, former Public Works Minister under ex-President Antonio Saca, to stand trial for embezzlement. The charges stem from alleged acts between December 2005 and January 2007, during which Gutiérrez Miranda oversaw the second section of the Diego de Holguín road project. Prosecutors from the Attorney General’s Office (FGR) allege that his failures led to US$10.6 million in undue payments to a builder. The contract stipulated 420 days for completion, but the road remained unfinished despite monthly payments. The FGR initially filed charges in January 2022, estimating the loss at US$13.7 million, which a later financial audit revised to US$10.6 million. The court has issued an arrest warrant for Gutiérrez Miranda as he has failed to appear before the court, and the trial cannot commence until his appearance.
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Explainer-Senegal's $44 billion debt dilemma: To whom does it owe money and why it matters

Explainer-Senegal's $44 billion debt dilemma: To whom does it owe money and why it matters

By Libby George LONDON, Sept 29 (Reuters) - Senegal must persuade the International Monetary Fund that its groaning debt pile is on a sustainable path before it can unlock much-needed Fund financing. But proving this is much more complex than simply spending less or earning more.