Philippines Ex-Senator Manny Villar Denies He is Endorsing Cryptocurrency

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January 15, 2020 – Former Senator Manny Villar refuted a statement claiming that he was endorsing a cryptocurrency.

The businessman, the richest man in the Philippines according to Forbes Magazine, has denied a claim in posts circulating on social media claiming that he was endorsing a cryptocurrency program. He said in a statement:

“I wish to warn the public about a false social media posting claiming that I endorsed a cryptocurrency trading program. I have never made any such endorsement nor have I engaged in the said bitcoin trading program. This is obviously a scam and I ask the public to protect themselves from such unscrupulous act.”

We are not able to see any of these posts anymore but seen the above, implying that the businessman is engaged in cryptocurrency. We have also seen another post that looks like a mere “photo op” with Mr. Villar but the caption indicated that he entered “the world of cryptocurrency”.

A similar event happened in 2018 when Senator Koko Pimentel had to publicly deny that he was involved in a “PH Global Coin”. He said in a statement, “There is no partnership between me and DCC, or the Senate and DCC. I met with these people as a matter of courtesy to visitors. I am shocked at their bold claims of an agreement between us using pictures that politicians normally have with visitors.

From the picture above, only Senator Manny Pacquiao has publicly supported a cryptocurrency, which is his own – Pac Coin. Pac Coin from GCOX trading platform is set to allow users to use the tokens in exchange for Pacquiao merchandise, among other things.

Manny Villar, a former Philippine Senator is the richest man in the Philippines in 2019 according to Forbes Magazine. He has businesses across industries including home developer Vista Land. His Wife, Cynthia is a Senator.

This article is published on BitPinas: Philippines Ex-Senator Manny Villar Denies He is Endorsing Cryptocurrency


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A business ad graduate from the Pamantasan ng Lungsod ng Maynila, Mike is the website manager of Bitpinas.com. He is responsible for almost every content you see on the site, from topic/news selection to editing of articles. Mike believes correct information about blockchain and cryptocurrency can empower people to make accurate decisions about the industry, which, in turn, should deter bad actors from taking advantage of crypto & blockchain. [Telegram @mikemislos]