According to financial statements, El Salvador's custodial wallet called "Chivo Wallet" is on the verge of bankruptcy.

I've been saying here in this sub since 2021 that the Bitcoin Law was going to fail, since salvadorans lack the tech knowledge to use cryptocurrencies. Not only that, cash was/is king my country. Even people cannot use an ATM, let alone a crypto wallet.

Nayib Bukele's crypto dreams failed misserably. You gotta remember that the Bitcoin Law was approved in less than 3 hours, and to no ones surprise it lacked the tools to allow independent oversight.

Sadly, Bukele shenanigans with Bitcoin only costed 1.6 BILLION DOLLARS of taxpayers' money... So far...