El Salvador's President Nayib Bukele has agreed to difficult loan terms from the International Monetary Fund (IMF) to keep his administration afloat. The terms require the disclosure of wallet addresses and Bitcoin holdings of all legal persons controlled by the state, including Chivo users in the government. These conditions aim to reduce the risks associated with El Salvador's exposure to Bitcoin's volatility and pseudonymity. Bukele has agreed to shut down the Chivo service entirely. The IMF will release the $1.4 billion loan in successive disbursements tied to milestone reviews, with the first release set at $200 million. The debut of Chivo in El Salvador faced controversies and coincided with an increase in the stock price of Athena Bitcoin Global. However, Athena's shares have since plummeted, and the company's hacked ATM network has struggled to remain online. Attempts to distract from the roll-back of Bitcoin are being made in Bukele's administration, with official social media accounts now focusing on other topics such as celebrations, real estate offerings, and gold holdings.



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