El Salvador is doubling down on its bet on cryptocurrencies even in the midst of a bear market. The first country to declare Bitcoin as legal tender is now working on a Digital Asset Issuance Law, which would facilitate operations with any crypto asset.
It would be easy to write crypto’s obituary right now. The technological ecosystem has never quite managed to justify the logic of its existence or reach the mass adoption its boosters have promised for years.
Crypto venture firm Multicoin Capital told investors in a letter on Thursday that FTX’s collapse and the price declines across the industry has pushed the fund down by 55% this month