Crypto companies promote job creation to prevent young people from joining gangs

The fight against the gangs that the administration of President Nayib Bukele has been undertaking since he began his administration, but which has intensified in recent weeks with the Exception Regime approved by the Legislative Assembly, has received the approval of several members of the community. crypto. Even big businessmen in the digital ecosystem have offered to support Salvadoran families affected by the violence.

The latest announcement of support for the country was made by Changpeng Zhao, CEO and founder of Binance, the world’s largest cryptocurrency exchange, who assured on his Twitter account that the firm he runs promotes a project that offers jobs to young Salvadorans to keep them out of criminal groups.

«We at Binance take a different approach to help with gang problems in El Salvador: create jobs for youth» the CEO of Binance posted.

Zhao confirmed that in the last two weeks, they hired seven Salvadorans, made 13 offers, and posted 50 job openings, the majority of which were in Spanish.In addition, he pointed out that by the end of the year, they hope to have welcomed hundreds more young people into their operations.

«Through our training program, everyone will learn about crypto and how we serve our community» he said.

This initiative joins that of Paolo Ardoino, head of technology development (CTO) of the Tether and Bitfinex companies, who reported a few weeks ago on the creation of a bitcoin fund that will be used to rebuild the social fabric of the country affected by gang violence. To date, the donation capital has exceeded 36 units of bitcoin, which is currently equivalent to more than $1.4 million.

According to Bloomberg, Zhao has a net worth of $96 billion and is ranked as the 11th richest person in the world. In 2021, the company he runs generated $20 billion in commissions and trades.

This Chinese-Canadian businessman visited El Salvador a few weeks ago as part of the thirteenth investment mission in the fields of banking and crypto managed by the Embassy of El Salvador in the United States.

On the tour he took in the territory, he arrived at El Zonte, in La Libertad, to obtain information about the impact of the crypto ecosystem in the area. The Asian also took the opportunity to make purchases with bitcoin in local businesses; he also tasted the area’s iced coffee, paid for with cryptocurrency.