El Salvador removes BTC price feed from Chivo app to crack down on arbitrage ...
Users of the Salvadoran government’s Chivo wallet will not be able to see frozen price quotes until the feature has been removed to deter arbitrage scalpers. The Salvadoran government has moved to prevent users of its Chivo digital wallet from gaming the app’s price freeze feature to glean risk-free profits through arbitrage.On Oct. 19, Chivo’s Twitter account announced that wallet users will not be able to see the reference price provided for trades executed using the price freeze feature — which allows traders to retain the Bitcoin (BTC) price quoted by the app for up to one minute.Chivo....
Related News
River’s Lightning service is the backbone for Chivo Wallet in El Salvador and removes the need for developers to have their own Lightning infrastructure.
The country’s central bank chief does not see the recent Bitcoin adoption move hampering plans to secure an IMF loan. Douglas Rodriguez, president of the Central Reserve Bank of El Salvador, has dismissed fears that the country adopting Bitcoin (BTC) as legal tender will scupper plans for a $1.3-billion loan facility from the International Monetary Fund (IMF).According to Bloomberg on Tuesday, Rodriguez stated that the central bank does not see any risks associated with the Bitcoin Law even as it prepares to secure an extended loan facility from the IMF.Indeed, the central bank described....
Another month, another Bitcoin mined using volcanic power. That’s what’s happening in El Salvador, the little country that could. Plus, Moneygram alters its business. Problems and solutions with Chivo ATMs and the Chivo ecosystem as a whole. Stars in Bitcoin Beach and direct reports from the ground. This edition of our now regular news roundup […]
While the world burns, El Salvador opens the Chivo Pets hospital. Not everything is lost. In this edition, we also highlight the famous visitors from all walks of life that have recently been to the country. And, of course, we have some feel-good stories and visit El Zonte. It’s not News From El Salvador if […]
El Salvador tapped crypto software firm AlphaPoint to fix numerous problems with its state Chivo wallet and help citizens adopt Bitcoin.