Bitfinex donates 36 BTC to Salvadoran businesses to support economic development

Cryptocurrency exchange Bitfinex has reportedly donated 36 bitcoins and $600,000 worth of rope to small businesses in El Salvador as part of supporting economic development in the community. Bitfinex announced Thursday that the funds are being distributed in socially disadvantaged communities such as Ilopango, Soyapango, and Apopa, where gang violence and extortion of small business owners are most common. These donations will be funded through recipients’ Bitcoin wallets, including the state-funded Chivo wallet, and will support environmentally friendly business initiatives that employ local workers. In addition to funding the donation, Bitfinex’s parent company iFinex Inc. is also working with the El Salvador government to create a new regulatory framework for digital assets and securities, the company said.