How the Venezuelan government is using crypto and stablecoins like USDT to manage the downturn; Venezuela sells most of its oil to China and is paid in crypto (Anatoly Kurmanaev/New York Times)

TechmemeSunday, November 2, 2025 at 4:45:01 AM
How the Venezuelan government is using crypto and stablecoins like USDT to manage the downturn; Venezuela sells most of its oil to China and is paid in crypto (Anatoly Kurmanaev/New York Times)
Venezuela is turning to cryptocurrency and stablecoins like USDT to navigate its economic challenges, particularly as it sells most of its oil to China and receives payments in crypto. This shift is significant as it highlights how countries facing economic downturns can leverage digital currencies to stabilize their economies and engage in international trade, potentially reshaping global financial dynamics.
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