Bitcoin rises 2%; El Salvador seeks Binance help – Crypto Moves

RIYADH: Bitcoin, the leading cryptocurrency internationally, traded higher on Thursday, rising 2.40 percent to $42,864.29 as of 8:00 a.m. Riyadh time.

Ether, the second most traded cryptocurrency, was priced at $3,021.55, up by 3.08 percent, according to data from Coindesk.

El Salvador asks Binance for help

El Salvador has sought the support of cryptocurrency exchange Binance after the country implemented bitcoin as a legal tender and issued bitcoin bonds, reported Milena Mayorga, El Salvador’s ambassador to the United States, on Wednesday.

Binance Chief Executive Officer Chanpeng Zhao, known as CZ, told reporters that he is visiting El Salvador Thursday and meeting President Nayib Bukele and ambassador Mayorga told reporters.

“Bukele’s presidency would be remembered in heroic terms for its bold bet on the future,” said CZ while praising the country for taking on such a pivotal role in adopting bitcoin.