“Bitcoin doesn’t care about who you are or what your feelings are. Bitcoin represents equal opportunity to participate in a system not encumbered by our legacy fiat structures." - White Rabbit

Happy Wednesday, Bitcoiners!

It's The Bitcoin Dispatch, here with your daily dose of Bitcoin news!

In today’s newsletter:

• Lebanon's Economic Meltdown: Angry Depositors Ignite Banks, Accuse Central Bank Bigwigs of Grand Theft

• U.S. Senators Scramble to 'Rein In' El Salvador's Bitcoin Revolution

• Bitcoin Rewards Giant Fold Makes a Splash in El Salvador

🇱🇧 Lebanon's Economic Meltdown: Angry Depositors Ignite Banks, Accuse Central Bank Bigwigs of Grand Theft

Crisis in Lebanon? Now there's a headline that makes the mainstream media drool. Beirut's boiling over, with angry depositors taking to the streets and giving the banks a good ol' fashion riot treatment. You thought your ex was angry when you forgot their birthday? Picture that, but with a mob setting banks on fire. All because their life's savings have up and vanished like a magician's assistant. And let's not forget about our pals at Lebanon’s central bank, who are knee-deep in fraud, embezzlement, and corruption allegations. Yeah, it's as bad as it sounds.

But hold your horses! There's more! The National dropped a bombshell, pointing the finger at Salameh and his bro, saying they pulled off an embezzlement scheme bigger than the Bitcoin market cap. And what's the damage, you ask? Oh, nothing major, just losses of almost $70 billion, wiping out depositors' savings and triggering inflation that would make a Weimar Republic economist blush. Now, more than 80% of the population is in poverty. Meanwhile, the rest of Lebanon's financial institutions have morphed into ghost towns, with ATMs drier than a desert and bank tellers who might as well be scarecrows. This folks, is what a broken economy looks like. And not a peep from the auditing firms before the whole thing went belly-up. Way to drop the ball, guys.

Opt out; choose Bitcoin.

💰 River Rakes in $35 Million in Series B, Paving the Way for a Bitcoin-Powered Economic Future!

So, guess who's rolling in dough? River, a Bitcoin tech and finance wunderkind, just wrapped up a $35 million Series B fundraising round. Kingsway Capital led the way, with big shots like Peter Thiel and other firms, including Cygni, Goldcrest, and Valor Equity Partners, hopping on the bandwagon. River's got quite the bag of Bitcoin goodies, from zero-fee orders and mining to a Bitcoin wallet that plays nice with both on-chain and Lightning Network transactions.

CEO Alex Leishman couldn't stop raving about Bitcoin's potential, given its growing popularity among businesses and institutions. Leishman reckons that with the recent bank failures and bailouts, betting on Bitcoin with a reliable partner isn't risky but rather the smarter move. And get this, River's Lightning API is seeing a boom in demand. Companies are itching to integrate with the Lightning Network for instant Bitcoin transactions. River's even got El Salvador's Chivo wallet hooked on their service. And Leishman? He swears by River's responsible practices, steering clear of reckless risks that the crypto world is notorious for. He's got his eyes on a brighter economic future with Bitcoin leading the way. And you know what? I'm all in for this ride.

Source: Bitcoin Magazine

🇸🇻 Bitcoin Rewards Giant Fold Makes a Splash in El Salvador

Fold, that Bitcoin rewards champ, is making serious moves – they're busting into El Salvador and setting up shop right in the heart of Latin America. Remember Fold, right? These are the geniuses who gave us the first Bitcoin rewards Visa Debit Card back in 2020. Their aim? To make Bitcoin as easy as pie for anyone and everyone.

Fold's big boss, Will Reeves, is over the moon about this. "El Salvador, that hotbed of Bitcoin love and a pioneer in playing around with monetary tech – what better place for Fold to spread its wings in Latin America," he says. And he's got the point – El Salvador's been all over Bitcoin like white on rice. Fold's got big plans for the region, including some hush-hush partnerships they're set to announce soon. And with Fold's Bitcoin rewards infrastructure clocking over a cool billion in volume, this is no small potatoes. Even Stacy Herbert from El Salvador's National Bitcoin Office is thrilled to roll out the red carpet for Fold, calling it a match made in heaven. So, stay tuned, folks. Fold's about to make it rain Bitcoin in El Salvador.

Source: BM

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That's a wrap for today. Until next time.

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