Salvadoran Volcano Bonds Set to Launch in Q1 2024
The approval of the regulatory framework for the Salvadoran Bitcoin Volcano Bonds has reignited discussions about these on-chain debt instruments. These bonds, to be issued by Bitfinex Securities utilizing Blockstream technology, are now expected to be launched in Q1 2024. The Bitcoin Office in El Salvador emphasized the significance of this development, stating that it is just the beginning of new capital markets centered around Bitcoin in the country. The head of the Bitcoin Office, Stacy Herbert, mentioned that the size of the offer is being worked on and is estimated to be around $1 billion. The issuance of these sovereign bonds will contribute to the development of Bitcoin-based capital markets.
Unblock Global Raises $15 Million for Flare Gas Mining in Argentina
Unblock Global, a Bitcoin mining company, has secured $15 million in funding to capitalize on the opportunities presented by flare gas for Bitcoin mining in Argentina’s Vaca Muerta, a significant oil reserve in the country. The funds raised, with the participation of Crusoe Energy, Pampa Energia, and Petrocuyo, will enable the reduction of oil emissions in Vaca Muerta by burning 10% of methane found in flare gas. Tomas Ocampo, founder of Unblock Computing, highlighted the environmental impact of this project. Unblock Global is the second company to implement such a bitcoin flare-mining initiative.
Argentine President Milei Trims Ministries to Cut State Expenses
Javier Milei, the newly elected President of Argentina, has taken steps to fulfill his campaign promise of reducing state expenditure by slashing several ministries. This shock adjustment policy aims to decrease public spending by 5% of the country’s GDP. Milei has also planned a reduction in public subsidies for energy and transportation for the upcoming year, alongside devaluing the Argentine peso by over 50%. Economy Minister Luis Caputo expressed concern over the current economic situation, describing it as the worst legacy in the country’s history, with increasing poverty among Argentines.
Hot Take: Latam Insights – A Roundup of Crypto and Economic News in Latin America
Welcome to Latam Insights, your source for the latest crypto and economic news in Latin America. In this edition, we cover the upcoming launch of Salvadoran Volcano Bonds in Q1 2024 to fund Bitcoin City’s construction. Similarly, Unblock Global has raised $15 million to harness flare gas possibilities for Bitcoin mining in Argentina’s Vaca Muerta. Finally, newly appointed Argentine President Javier Milei is slashing ministries as part of his efforts to reduce state expenditure and tackle economic challenges. Stay tuned for more updates on crypto and economic developments in Latin America by subscribing to our Latam newsletter.
By
By
By
By
By
By