#usdt
π»πͺ USDT β the financial artery of the Venezuelan economy (WSJ)
β’ Venezuela's state oil company, PdVSA, has begun accepting payments for oil in stablecoins, primarily USDT, moving away from banks and dollar transactions.
β’ Up to 80% of the country's oil revenue has been processed through cryptocurrency schemes in recent years.
β’ Stablecoins allowed for faster money transfers, reduced the risk of blocking, and obscured the final recipients.
β’ For ordinary Venezuelans, USDT has become a lifeline: protection from the hyperinflation of the bolivar and a basic savings and payment instrument.
β’ 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.
@Π‘ryptoz βΏ
π»πͺ USDT β the financial artery of the Venezuelan economy (WSJ)
β’ Venezuela's state oil company, PdVSA, has begun accepting payments for oil in stablecoins, primarily USDT, moving away from banks and dollar transactions.
β’ Up to 80% of the country's oil revenue has been processed through cryptocurrency schemes in recent years.
β’ Stablecoins allowed for faster money transfers, reduced the risk of blocking, and obscured the final recipients.
β’ For ordinary Venezuelans, USDT has become a lifeline: protection from the hyperinflation of the bolivar and a basic savings and payment instrument.
β’ 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.
@Π‘ryptoz βΏ
β€11π₯2
βͺοΈ Consumer Price Index (CPI) (YoY) (Dec)
Actual: 2.7%
FORECAST: 2.7%
PREV: 2.7%
βͺοΈ Consumer Price Index (CPI) (MoM) (Dec)
Actual: 0.3%
FORECAST: 0.3%
PREV: 0.3%
βͺοΈ Core Consumer Price Index (CPI) (MoM) (Dec)
Actual: 0.2%
FORECAST: 0.3%
PREV: 0.2%
βͺοΈ Core Consumer Price Index (CPI) (YoY) (Dec)
Actual: 2.6%
FORECAST: 2.7%
PREV: 2.6%
@Π‘ryptoz βΏ
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β€25π2
Money is in gold for now, crypto is moving sideways.
Once the hype around precious metals fades, liquidity will flow back into BTC and ETH.
@Cryptoz
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1β€22π₯5π3π3
#BTC Hashprice Hits $0.03 per TH
Bitcoinβs hashprice β the revenue miners earn per terahash β has dropped to around $0.03/TH, putting heavy pressure on mining profitability.
As a result, the network adjusted mining difficulty down by 11%, marking the largest negative difficulty change since Chinaβs mining ban in 2021.
@Cryptoz
Bitcoinβs hashprice β the revenue miners earn per terahash β has dropped to around $0.03/TH, putting heavy pressure on mining profitability.
As a result, the network adjusted mining difficulty down by 11%, marking the largest negative difficulty change since Chinaβs mining ban in 2021.
@Cryptoz
β€7π₯4π―1
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JUST IN: πΊπΈ Treasury Secretary Bessent calls to pass crypto market structure legislation.
@Cryptoz
@Cryptoz
β€3π2
π Banks refused to compromise on stablecoin yields.
A new meeting was held at the White House on the CLARITY bill about the crypto market structure with representatives from banks and the crypto industry.
The banking side brought a document with a firm stance:
β A complete ban on any rewards to stablecoin holders.
β A ban not only on financial interest but on any bonuses.
β Strict supervision and an enforcement mechanism.
The banks' argument β protecting deposits. Yields on stablecoins could trigger outflows from the traditional banking system and hurt lending to the real economy.
@Cryptoz
A new meeting was held at the White House on the CLARITY bill about the crypto market structure with representatives from banks and the crypto industry.
The banking side brought a document with a firm stance:
β A complete ban on any rewards to stablecoin holders.
β A ban not only on financial interest but on any bonuses.
β Strict supervision and an enforcement mechanism.
The banks' argument β protecting deposits. Yields on stablecoins could trigger outflows from the traditional banking system and hurt lending to the real economy.
@Cryptoz
π€ Up to 10% of Bitcoinβs market cap could flow into privacy coins.
The founder of Digital Currency Group stated that in the coming years, 5-10% of capital from BTC will move into privacy-focused cryptocurrencies like Zcash (#ZEC).
Bitcoin remains the core asset in the portfolio, but a 500x increase is unlikely unless the dollar collapses.
However, the privacy coin sector has the potential for 100x-1000x growth.
@Cryptoz
The founder of Digital Currency Group stated that in the coming years, 5-10% of capital from BTC will move into privacy-focused cryptocurrencies like Zcash (#ZEC).
Bitcoin remains the core asset in the portfolio, but a 500x increase is unlikely unless the dollar collapses.
However, the privacy coin sector has the potential for 100x-1000x growth.
@Cryptoz
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American Hodl on how each cycle compounds in difficulty, tough emotional moments in the hodling journey, life-changing money & how plebs are struggling with the nihilism of everyday life.
@Cryptoz
@Cryptoz
π1