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Venezuelans Sent Over $460 Million in Remittances Using Crypto in 2023

Bitcoin.com
Venezuelans Sent Over 0 Million in Remittances Using Crypto in 2023
bitcoin.com
Venezuelans Sent Over 0 Million in Remittances Using Crypto in 2023The Venezuelan migrant population, now exceeding 7 million, has used crypto to send over $460 million in remittances to the ones left behind in the country. According to Chainalysis, 30% of Venezuelan households received some form of remittance in 2023, with 9% using crypto as rails to reach their receivers efficiently. Venezuelan Migrants Sent Almost […]
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Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal

Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal

Crypto remittances in Venezuela surge as economic situation worsens

Coin Telegraph
Crypto remittances in Venezuela surge as economic situation worsens
Bitcoin mining

Sanctions from the United States, spiraling inflation and government corruption have created an economic nightmare for Venezuelans.

As the economic situation in Venezuela continues to worsen, crypto remittances from family members living abroad have surged to support residents inside the country suffering from persistent inflation and supply issues.

In 2023, cryptocurrencies accounted for 9% of the $5.4 billion in remittances sent to Venezuela, representing $461 million in value. Remittances to Venezuela have increased every single year since 2018, with the exception of 2020, according to Chainalysis.

Remittances are typically sent using services such as Western Union. However, comparatively steep fees, wait times and currency supply issues can often make these services, as robust as they are, unviable for individuals in the developing world.

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Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal

Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal

Ledn Co-Founder Mauricio Di Bartolomeo States Crypto Will Be a Determinant Factor on Latam Elections: ‘People Want Bitcoin’

Bitcoin.com
Ledn Co-Founder Mauricio Di Bartolomeo States Crypto Will Be a Determinant Factor on Latam Elections: ‘People Want Bitcoin’
Argentina
Ledn Co-Founder Mauricio Di Bartolomeo States Crypto Will Be a Determinant Factor on Latam Elections: ‘People Want Bitcoin’Mauricio Di Bartolomeo, co-founder and CSO of Ledn, a Canada-based bitcoin lending platform, stated that Latam citizens are shifting to elect governments supporting bitcoin as a better money alternative. In an interview with Bitcoin News, Di Bartolomeo stressed that presidents like Bukele in El Salvador and Milei in Argentina have shown Latam that proposals including […]
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Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal

Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal

Venezuela Likely to Keep Using Crypto to Bypass New Set of US Sanctions

Bitcoin.com
Venezuela Likely to Keep Using Crypto to Bypass New Set of US Sanctions
bitcoin.com
Venezuela Likely to Keep Using Crypto to Bypass New Set of US SanctionsAccording to Venezuelan dissidents and cryptocurrency analysts, the government of Venezuela is likely to keep using crypto to bypass the returning sanctions on oil and gold activities. Even when Nicolas Maduro’s administration seems to have been affected by corruption cases involving crypto, watchers report that these tools will keep diverting funds from regular channels. Venezuelan […]
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Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal

Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal

Latam Insights: Venezuela Seizes Over 11,000 Bitcoin Miners, Paraguay Cracks Down on Illegal Bitcoin Mining

Bitcoin.com
Latam Insights: Venezuela Seizes Over 11,000 Bitcoin Miners, Paraguay Cracks Down on Illegal Bitcoin Mining
Bitcoin
Latam Insights: Venezuela Seizes Over 11,000 Bitcoin Miners, Paraguay Cracks Down on Illegal Bitcoin MiningWelcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Venezuela seizes over 11,000 bitcoin miners to save energy, Paraguay cracks down on illegal bitcoin mining, and Brazil aims to finalize crypto regulations this year. Venezuelan Authorities Announce Bitcoin Mining Ban, Confiscate Over […]
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Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal

Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal

Venezuelan Authorities Seize Over 6,000 Bitcoin Miners in 2 New Operations; Over 17,000 Confiscated In Total

Bitcoin.com
Venezuelan Authorities Seize Over 6,000 Bitcoin Miners in 2 New Operations; Over 17,000 Confiscated In Total
Bitcoin (BTC)
Venezuelan Authorities Seize Over 6,000 Bitcoin Miners in 2 New Operations; Over 17,000 Confiscated In TotalVenezuelan authorities led by the National Power Ministry and Corpoelec, the state-owned power company, have seized over 6,000 bitcoin miners in two new operations. The ministry, which recently declared that it would disconnect all bitcoin miners due to its high energy consumption, has already confiscated over 17,000 miners from several mining farms. Venezuelan Authorities Advance […]
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Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal

Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal

Venezuelan Authorities Announce Bitcoin Mining Ban, Confiscate Over 11,000 Miners to Face the Nation’s Energy Crisis

Bitcoin.com
Venezuelan Authorities Announce Bitcoin Mining Ban, Confiscate Over 11,000 Miners to Face the Nation’s Energy Crisis
Bitcoin (BTC)
Venezuelan Authorities Announce Bitcoin Mining Ban, Confiscate Over 11,000 Miners to Face the Nation’s Energy CrisisThe Venezuelan National Power Ministry announced a special operation to disconnect all bitcoin mining farms from the grid. Authorities have seized over 11,000 bitcoin miners as the government seeks to reduce the power usage from high-power customers siphoning energy from the national electric system. Venezuelan Authorities Seize and Disconnect Over 11,000 Bitcoin Miners Amidst Energy […]
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Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal

Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal

Venezuela bans crypto mining to protect power grid

Coin Telegraph
Venezuela bans crypto mining to protect power grid
anti-corruption

This move follows a recent crackdown that involved confiscating 2,000 cryptocurrency mining devices as part of an anti-corruption initiative.

The Venezuelan government has joined the list of countries that have frowned on crypto mining due to its hefty electricity demands.

According to a local news outlet, Venezuela’s Ministry of Electric Power (MPPPE) has unveiled plans to disconnect cryptocurrency mining farms from the national grid. The move aims to regulate excessive energy consumption and guarantee a stable power supply for the population.

An X post from Venezuela’s National Association of Cryptocurrencies stated that crypto mining is prohibited throughout Venezuela. The move prioritizes energy stability over the burgeoning crypto-mining industry.

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Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal

Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal

Latam Insights: Venezuela to Leverage USDT for Sidestepping Sanctions, Chivo Wallet Disregards Hacking Allegations

Bitcoin.com
Latam Insights: Venezuela to Leverage USDT for Sidestepping Sanctions, Chivo Wallet Disregards Hacking Allegations
bitcoin.com
Latam Insights: Venezuela to Leverage USDT for Sidestepping Sanctions, Chivo Wallet Disregards Hacking AllegationsWelcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Venezuelan oil company PDVSA could use USDT to sidestep U.S. sanctions, Chivo Wallet denies hacking allegations, and Nubank expands its crypto functionality in Brazil. Venezuela Might Use USDT for Sidestepping Sanctions Venezuela is […]
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Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal

Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal

Latam Insights: Bitcoin Hurts El Salvador Credit Opportunities, Paraguay Supports Selling Power to Crypto Miners

Bitcoin.com
Latam Insights: Bitcoin Hurts El Salvador Credit Opportunities, Paraguay Supports Selling Power to Crypto Miners
bitcoin.com
Latam Insights: Bitcoin Hurts El Salvador Credit Opportunities, Paraguay Supports Selling Power to Crypto MinersWelcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Bitcoin hinders El Salvador’s credit talks with the IMF, the Paraguayan Senate issues a statement supporting bitcoin miners, and Venezuela unveils a crypto-linked corruption scheme. Bitcoin Reportedly Hurts El Salvador Credit Opportunities With […]
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Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal

Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal

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