Retail Venezuelans are increasingly using USDT on peer-to-peer marketplaces to hedge against hyperinflation. The government is also reportedly parking oil revenues in TRON-based USDT.
Rumors of a 600,000 BTC Venezuelan "shadow reserve" (~$60B) resurfaced after Maduro's arrest, but markets were largely unmoved. Analysts say there is no verifiable on-chain evidence to support the claim.
SEC Chair said it remains unclear whether Venezuela actually controls $60 billion in Bitcoin, while several blockchain analysts said they could not verify the claim. The uncertainty leaves regulators and markets without clear evidence on provenance and enforcement options.
Nicolás Maduro pleaded not guilty this week in a New York court after U.S. authorities seized him in Caracas, and the case has prompted fresh questions about whether his regime used cryptocurrencies to move money or evade sanctions.
Cut off from traditional dollar rails, Venezuela is increasingly using dollar-pegged stablecoins for payments, remittances and savings. The shift highlights stablecoins' practical role as cross-border payment rails while raising regulatory and compliance questions.
The U.S. is preparing to freeze and seize Venezuela’s Bitcoin holdings after the capture of Nicolás Maduro, who faces narco-terrorism charges in a New York federal court. The move could mark a major test of how state-held crypto is treated under U.S. sanctions and asset-forfeiture law.
Bitcoin surged about 1,671% after Nicolás Maduro's sudden ouster, as traders and Venezuelan buyers rushed into crypto before U.S. markets responded. P2P and OTC volumes spiked, signaling local demand and liquidity dislocations.
Nobel Prize–winning Bitcoin advocate María Corina Machado is one of three candidates vying to replace Nicolás Maduro following his reported capture on Saturday. Her rise could shift Venezuela’s crypto policy and draw renewed market attention to BTC in the region.
JPMorgan has frozen accounts tied to two venture-backed stablecoin startups operating in Venezuela amid unresolved compliance concerns. The move underscores mounting regulatory pressure on crypto firms in high-risk jurisdictions and could disrupt local on‑ramps and liquidity.
Economist Asdrúbal Oliveros reports Venezuela now collects about 80% of its crude oil sales revenue in Tether’s USDT. The shift underscores growing use of stablecoins for cross-border energy payments amid FX constraints and sanctions.