Two weeks ago the infamous “Volcano Bitcoin Bond” finally made its way to the El Salvador legislature for final approval — a legislature completely controlled by Nayib Bukele’s New Ideas Party.

While final rubber-stamping occurs through an economic commission, also made up almost exclusively of New Ideas party members, it’s worth talking about more than just why the Volcano Bitcoin Bond has been widely mocked by financial experts. Specifically, why two companies deeply intertwined in the crypto industry — Bitfinex and Blockstream — are supporting a fascist.

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