Venezuelan oppositioner highlights crypto’s role amid crisis
A Venezuelan oppositioner Leopoldo Lopez praised crypto as a tool to overcome censorship but also addressed its dependency on corrupted banks. As Venezuela struggles with a humanitarian crisis, crypto has become a vital tool for many Venezuelans seeking to preserve their savings. At the same time, the bolivar (VES), the official currency of Venezuela, has lost its value. Leopoldo Lopez, the founder of Venezuelan political party Voluntad Popular and a close associate of Venezuela’s best-known opposition leader Juan Guaido, has told Chainalysis in an interview that crypto currencies, particularly stablecoins, helped Venezuelans overcome volatile inflation rates, which averaged 3634% between 1973-2023. Chart comparison between VES value and crypto purchases with the national currency | Source: Chainalysis You might also like: Venezuela authorities seize Bitcoin mining machines from notorious prison Lopez acknowledged that cryptocurrencies played a key role for Ve...