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The crypto ecosystem in Venezuela is a product of ongoing economic collapse and international sanctions pressure, according to the TRM Labs team. Venezuelans are already heavily reliant on blockchain technology for banking after suffering through a decade of economic pressures; however, usage is likely to keep growing if conditions worsen in the South American country,…
The crypto ecosystem in Venezuela is a product of ongoing economic collapse and international sanctions pressure, according to the TRM Labs team. Venezuelans are already heavily reliant on blockchain technology for banking after suffering through a decade of economic pressures; however, usage is likely to keep growing if conditions worsen in the South American country,…
Nubank Vice-Chairman Roberto Campos Neto said the bank will test stablecoin credit card payments, as adoption of stablecoins accelerates across Latin America. Nubank, Latin America’s largest digital bank, is reportedly planning to integrate dollar-pegged stablecoins and credit cards for payments. The move was disclosed by the bank’s vice-chairman and former governor of Brazil’s central bank,…
During a press conference on Monday, Venezuela’s president, Nicolás Maduro, showed off a Huawei smartphone that China’s President Xi Jinping gifted him, calling it “the best phone in the world,” and making a bold claim. “The Americans can’t hack it, neither their spy planes, nor their satellites,” Maduro said. The phone looked like a Mate…
Lessons from hyperinflation lead more people to Bitcoin, according to Ledn co-founder Mauricio di Bartolomeo. When Venezuela was experiencing hyperinflation, Ledn co-founder Mauricio di Bartolomeo hedged against the collapsing local currency by shorting it in favor of the more stable US dollar. Today, he’s using a similar strategy — this time borrowing against his Bitcoin…
By any honest assessment, the Biden administration’s Venezuela policy has failed, and predictably so. Barely three months after unilaterally removing sanctions on the Maduro regime in October, the results are painfully clear. Rather than entice Caracas toward a democratic opening, Biden’s attempted rapprochement has only emboldened Maduro to crack down on opposition leadership and even…
Banco de Venezuela, one of the largest financial institutions in the country, was acquired by the sanctioned government in 2009. The world’s largest crypto exchange Binance has removed Banco de Venezuela as a payment method on its peer-to-peer (P2P) trading service. This follows similar moves with sanctioned Russian banks last week, and is likely part…
“How weak Biden fell for the ‘weaponization’ of Maduro’s migrants” The Cuban military dictatorship has unleashed three destabilizing rafter crises since taking power in 1959. They occurred in 1965, 1980 and 1994-95, all years when a Democrat was in the White House. During the Obama administration, more than 120,000 Cuban migrants found their way to US ports…
Five things to know about the end of Title 42 When a federal judge in November declared Title 42 illegal, “with great reluctance” he allowed the Biden administration to keep implementing the border management policy for five weeks. Those five weeks end Wednesday, and the Department of Homeland Security (DHS) will no longer have the…
“Ex-Florida congressman David Rivera arrested for false agency with Venezuela” Former Republican Florida Rep. David Rivera was arrested Monday on federal criminal charges of money laundering and representing a foreign government without registering. Rivera, who represented a Miami-area district in Congress from 2011 to 2013, had signed a $50 million consulting agreement with a state-owned…