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Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency-based news from last week. In this edition, we discuss the recent proposal from El Salvador to settle their trade transactions with Russia using crypto, and how this might encourage other nations to do the same. El Salvador Might Start … Read more
The trillion-dollar coin, an idea that surged as a solution to raising the U.S. debt ceiling on more than one occasion, was recently revealed to have been considered by the government several times. Memos obtained via FOIA requests by journalist Jason Leopold show that, even though it was considered outrageous by some, it was seriously … Read more
Over the past 24 hours, as market values have declined significantly, many observers have begun discussing the current crypto market cycle and the potential for digital currency prices to recover. Data indicates that hundreds of billions of dollars have exited the crypto economy, but some believe a rebound similar to 2020 could still occur. Onlookers … Read more
Xapo Bank has entered the UK market, becoming the only licensed banking group to offer a combined interest-bearing USD and bitcoin account. “We’re proud to announce we have successfully passported our banking license into the UK. This means we are allowed to offer our banking services directly to the UK market,” said the CEO of … Read more
Felix Sosa, president of the National Power Administration of Paraguay (ANDE), has disregarded reports indicating that a mass exodus of cryptocurrency mining companies could be brewing. Sosa stated that no cryptocurrency company had left the country yet and that there were over 400 MW in projects awaiting approval by the institution. No Cryptocurrency Mining Companies … Read more
Economist and gold advocate Peter Schiff has warned investors that a sharp drop in bitcoin’s price could trigger mass bitcoin exchange-traded fund (ETF) liquidations. “If so, brace for a Crypto Black Monday,” he cautioned. He believes that bitcoin has been in a major bear market for almost three years. Peter Schiff Warns of Sharp Decline … Read more
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: El Salvador proposes using crypto as a tool to complete international settlements with Russia, Argentina registers its first bitcoin-funded company, and the Polymarket Venezuelan presidential election bet is still undecided. Russian Diplomat: El … Read more
U.S. Congressman Ro Khanna will host a meeting to help Vice President Kamala Harris improve her relationship with the cryptocurrency industry. This is the second event of its kind in two months to aid Harris’ campaign efforts amid the Biden administration’s tough stance on crypto assets. Meeting Arranged to Help Vice President Kamala Harris Mend … Read more
After peaking at 677 exahash per second (EH/s) on July 25, Bitcoin’s network hashrate declined to 629 EH/s as of Aug. 4. The recent uptick in Bitcoin’s mining difficulty, coupled with the subsequent drop in its price, has driven bitcoin mining revenue to record lows. Monthly Bitcoin Fee Revenue Drops 75%, Hashrate Slides 48 EH/s … Read more
Mercado Libre, a financial and e-commerce service company with its own cryptocurrency token, became the largest company in Latin America after announcing its financial results for Q2. Mercado Libre announced a net income of $531 million, significantly surpassing the expected $432 million. Other numbers were also positive, including a 36% growth in sales in Brazil, … Read more