Venezuela looks to Tether to bypass sanctions: Reuters

Venezuela is using USDT to bypass sanctions, Reuters reported.
This is the country's second experiment with crypto as a means to bypass sanctions.

CoinDesk Analysis Team CoinDesk

Venezuela's state-owned oil company, PDVSA, is looking to Tether (USDT) as a means to bypass new sanctions placed on it by the United States, Reuters reported.

Reuters reported that PDVSA is trying to integrate more usage of USDT as a hedge against having foreign bank accounts frozen. Tether is the world's largest dollar-pegged stablecoin.

Tether did not respond to a request for comment by CoinDesk by press time.

Reuters reported that PDVSA uses intermediaries when trading crypto in order to obfuscate the on-chain trail.

Venezuela launched its first experiment with crypto in 2018 as a way to bypass the dollar, but it never really took off, with no major exchanges accepting it and the government sunsetting the program in early 2024.

Author

CoinDesk Analysis Team

CoinDesk

CoinDesk is the media platform for the next generation of investors exploring how cryptocurrencies and digital assets are contributing to the evolution of the global financial system.

Ripple slides to $1.45 as downside risks surge

Ripple edges lower at the time of writing on Tuesday, from the daily open of $1.48, as headwinds persist across the crypto market. A short-term support is emerging at $1.45, but a buildup of bearish positions could further weaken the derivatives market and prolong the correction.

Bitcoin slips below $68,000 as defensive stance limits recovery

Bitcoin edges lower on Tuesday, extending consolidation in a trading range for over ten days. Market conditions remain defensive, with sustainable recovery depending on renewed spot demand, report says.

Crypto Today: Bitcoin, Ethereum, XRP upside looks limited amid deteriorating retail demand

The cryptocurrency market extends weakness with major coins including Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) trading in sideways price action at the time of writing on Tuesday.

Meme Coins Price Prediction: Bears push Dogecoin, Shiba Inu, Pepe to the ropes

Meme coins, including Dogecoin, Shiba Inu, and Pepe, are under pressure on Tuesday, extending Sunday’s decline. The derivatives data show substantial outflows from DOGE, SHIB, and PEPE futures Open Interest, primarily driven by long-side-skewed liquidations.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: BTC bears aren’t done yet

Bitcoin (BTC) price slips below $67,000 at the time of writing on Friday, remaining under pressure and extending losses of nearly 5% so far this week.