El Dorado CEO: Venezuela Highlights Stablecoins’ Use Case as a ‘Tool for Resilience’

October 24, 2024 Bitcoin.com

bitcoin.com

Guillermo Goncalvez, founder and CEO of El Dorado, a Latam-focused P2P exchange, has reflected on the rise of stablecoins from a niche product to a widely used tool in Venezuela. Goncalvez states that, as Venezuelans shift to using the dollar due to devaluation, stablecoin remittances have soared, demonstrating that these are a viable alternative when […]

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Venezuelans Crave USDT as Dollar Exchange Rate Explodes

October 17, 2024 Bitcoin.com

bitcoin.com

Venezuelans have ramped up the use of Tether’s USDT, as it has become one of the largest sources of dollar liquidity in national markets. While the government has tried to contain the black market exchange rates by injecting dollars into the banking sector, it has enjoyed limited success, with Tether adoption ramping up as an […]

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Latam Insights Encore: Venezuela Can Grow to Be Latin America’s Crypto Haven

October 14, 2024 Bitcoin.com

bitcoin.com

Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency news from last week. In this edition, we examine the possibility of Venezuela growing to become the top cryptocurrency market in Latam and the key elements that are holding it back from realizing its potential. Latam Insights Encore: Venezuela […]

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Latam Insights: Venezuela Reaches Crypto Milestone, Consortium Announces Real Stablecoin

October 12, 2024 Bitcoin.com

Avalanche

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue, Chainalysis states Venezuela was the country where cryptocurrency markets grew most last year, Brazilian giants team to launch a real-pegged stablecoin, and Littio leveraged Avalanche to offer yield-bearing dollar-based savings accounts. Chainalysis Latam […]

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Chainalysis Latam Report Highlights Major Crypto Growth Milestone in Surprising Nation

October 12, 2024 Bitcoin.com

Argentina

A Chainalysis report reveals that Argentina surpassed Brazil in cryptocurrency value received during the period examined, highlighting the high adoption of stablecoins in Latin America. However, Venezuela was the market that grew the most, rising by 110% despite the current political and economic turmoil the nation is facing. Chainalisis Latam Report: Argentina Beats Brazil, Venezuela’s […]

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Venezuela opposition’s Bitcoin reserve plan must overcome political turmoil first

September 18, 2024 Coin Telegraph

Bitcoin

Opposition leader María Corina Machado proposed adding Bitcoin to Venezuela’s reserves for a new era led by Edmundo Gonzalez.

Venezuelan opposition leader María Corina Machado‘s proposal to include Bitcoin (BTC) in the country’s national reserves appeals to both Venezuelans and Bitcoin supporters alike.

However, there’s a lingering distrust in the country’s political system and uncertainty over whether this proposal could realistically help the current crisis or if it’s just political posturing.

On Sept. 6, Machado acknowledged in an interview that many Venezuelans turned to Bitcoin as a “lifeline” during the country’s hyperinflation crisis, using it not only to preserve their wealth but also to fund their escape from the country.

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Latam Insights Encore: The Venezuelan Perfect Storm Highlights Bitcoin’s Key Use Case

September 10, 2024 Bitcoin.com

Bitcoin

Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency-based news from last week. In this edition, we discuss how bitcoin is being leveraged by both the opposition and the government in Venezuela, highlighting one of its most significant traits: uncensorability. Latam Insights Encore: Venezuelan Situation Shows Bitcoin’s Utility […]

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Latam Insights: Venezuelan Opposition Leader Proposes Bitcoin Reserve; Maduro Wants to Retake the Crypto Path

September 9, 2024 Bitcoin.com

Bitcoin (BTC)

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue, Venezuelan opposition leader María Corina Machado proposes creating a bitcoin reserve, Venezuelan President Nicolás Maduro states that the country must retake the crypto path, and a GAFILAT report indicates that bitcoin has not […]

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Venezuelan Opposition Leader Proposes Establishing a Bitcoin Reserve

September 8, 2024 Bitcoin.com

bitcoin reserve

Maria Corina Machado, head of the political coalition that contests the victory of Nicolas Maduro in Venezuela, has proposed establishing a bitcoin reserve for the country. Machado stated that bitcoin represented a lifeline for many Venezuelans, that protected their wealth from rampant hyperinflation and announced a bitcoin donation campaign to help them in their democratic […]

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Venezuelan President Nicolas Maduro Proposes Retaking the ‘Crypto Path’

September 3, 2024 Bitcoin.com

bitcoin.com

Venezuelan President Nicolas Maduro discussed the possible future of the national cryptocurrency system following the so-called PDVSA-Crypto scheme, which resulted in the loss of $20 billion in unaccounted oil sales paid in crypto. Maduro stated that the country needed to retake the crypto path but gave no indications regarding the revival of the national cryptocurrency […]

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