USDT just saved a sanctioned regime. HUGE.
PDVSA used $USDC to bypass US sanctions. They demanded crypto payments for oil. This stablecoin became Venezuela's lifeline against hyperinflation. They even required upfront $USDC payments. Intermediaries processed payments through $USDC for sales to Chinese refiners. Tether claims cooperation with OFAC, freezing sanctioned addresses. They froze 41 Venezuela-linked wallets by 2024. This exposes crypto's role in sanctioned economies. $USDT fueled Venezuela's economy amid 270%+ inflation. Crypto accounted for 10% of grocery payments by 2024. Sanctions remain in place.
Not financial advice.
