#usdt
🇻🇪 USDT – the financial artery of the Venezuelan economy (WSJ)

• Venezuela's state oil company, PdVSA, has begun accepting payments for oil in stablecoins, primarily USDT, moving away from banks and dollar transactions.
• Up to 80% of the country's oil revenue has been processed through cryptocurrency schemes in recent years.
• Stablecoins allowed for faster money transfers, reduced the risk of blocking, and obscured the final recipients.
• For ordinary Venezuelans, USDT has become a lifeline: protection from the hyperinflation of the bolivar and a basic savings and payment instrument.
• Tether finds itself caught between two fires:
- On the one hand, USDT is exploited by sanctions.
- On the other, the company actively cooperates with the US and freezes suspicious wallets.

@Сryptoz ₿