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Central African Republic launches 'Sango Coin' cryptocurrency amid industry rout

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LONDON : Central African Republic will start selling a cryptocurrency it says will be worth $21 million next week, it said on Friday, amid a wider rout in the industry and scepticism over the project's feasibility in a poorly connected, war-torn country.The 'Sango Coin', described as a 'national digital c

LONDON : Central African Republic will start selling a cryptocurrency it says will be worth $21 million next week, it said on Friday, amid a wider rout in the industry and scepticism over the project's feasibility in a poorly connected, war-torn country.

The nascent cryptocurrency market is highly volatile, with bitcoin down some 55 per cent so far this year. Prices surged in 2020 and 2021, but have fallen sharply in recent months as investors ditch risky assets. In Central America, a big bet on bitcoin by El Salvador has soured in recent months as the cryptocurrency suffered a sharp drop, with its holdings falling by more than half in value to $49.4 million.

 

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Being cancer-stricken and begging CPF Board to repay overdue debt; that which in any case cannot be done as the money had been commingled and funneled to private entity Temasek Holdings for Ho Ching to wager on unviable, untenable and ultimately, invariably doomed gambles

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