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Thursday, 31 March 2022

The most distant star seen through Hubble + Volcano bonds for crypto enthusiasts in El Salvador

Astronomers have spotted what is believed to be the most distant star ever seen through the Hubble space telescope, according to the Associated Press. Earendel, which means rising light, is believed to be among the first generation of stars born after The Big Bang. The image of the star picked up by Hubble is believed to be from 12.9 bn years ago, breaking the previous record of 9 bn years. With the Big Bang believed to have taken place 13.8 bn years ago, this makes it one of the oldest stars we’ve seen. Astronomers expect to observe even more distant stars and galaxies with the newly launched (and pretty expensive) James Webb Space Telescope, which could “provide us with another piece of this cosmic puzzle that is the evolution of our universe,” National Science Foundation’s NOIRlab’s Vinicius Placco said.

El Salvador is targeting crypto enthusiasts for its USD 1 bn worth of so-called “volcano bonds,” after big bond investors turned their noses up at the offer, the Financial Times reports. Crypto exchange Bitfinex — which will host the issuance — told the FT it’s expecting interest from investors holding huge sums of BTC to help cover the bonds. Half of the proceeds are set to go to crypto investments, while the other half will fund El Salvador’s planned volcano-powered “BTC city,” where the digital coins would be mined using geothermal energy. Traditional investors are doubtful of the plan, arguing that it could make it harder for the country to access traditional debt markets and affect its relationship with global lender the IMF.

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