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Tag: Venezuela

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Tether Will Freeze Wallets Evading Venezuelan Sanctions
Investors are still gauging macroeconomic factors, one observer said. Read full article
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Venezuela Turns To Crypto For Oil Sales To Evade Fresh Round Of U.S. Sanctions
Venezuela’s state-owned oil company, Petróleos de Venezuela S.A. (PDVSA), is using Tether’s USDT — the industry’s largest dollar-backed stablecoin — to skirt new US sanctions, which are aimed at crippling the government of embattled President Nicolás Maduro.

USDT: Venezuela’s Solution… Read full article
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Venezuelan State Oil Company to Accelerate USDT Adoption for Settlements; Tether Vows to Uphold OFAC Sanctions
PDVSA, the state-owned Venezuelan oil company, would be preparing to migrate more of its payments portfolio to USDT, a dollar stablecoin, to avoid being affected by the restitution of U.S. sanctions. Reuters reported that the company started receiving payments in… Read full article
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First Mover Americas: Venezuela Looks to Tether for Oil Sales as Sanctions Return
DYDX also has a large unlock scheduled but is not experiencing the same pricing pressure. Read full article
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Venezuela’s Oil Giant PDVSA Turns to Crypto amidst Heightened Sanctions
Coinspeaker
Venezuela’s Oil Giant PDVSA Turns to Crypto amidst Heightened Sanctions
Amid renewed sanctions from the United States government due to President Nicolás Maduro’s failure to fulfill electoral agreements signed in 2023, Venezuela is embracing crypto to navigate the economic… Read full article
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Venezuela reportedly turns to USDT for oil export as US sanctions bite
Geoff Kendrick, head of digital assets research at Standard Chartered, is still optimistic about Bitcoin, with his firm setting a year-end price target of $150,000. Read full article
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USDT: Venezuela’s State-Run Oil Company Embraces Tether (USDT) Amidst U.S. Sanctions
According to a report by Reuters, Venezuela’s state-run oil company, PDVSA, is increasingly turning to the digital currency Tether (USDT) for its crude and fuel exports as the United States reimposes oil sanctions on the country. Three people familiar with… Read full article
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Venezuela Looks to Tether to Bypass Sanctions: Reuters
Venezuela's state-run oil company started experimenting with Tether in 2023. Read full article
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