Venezuela is becoming increasingly dependent on cryptocurrency transfers due to the ongoing economic crisis. In 2023, cryptocurrencies accounted for 9% of the $5.4 billion sent into the country in the form of transfers, which is $461 million. 📈 Despite the creation of the state cryptocurrency "Petro" in 2018, it has not become widespread due to corruption and lack of status legal tender. Petro was shut down in 2024, but that didn't stop the government from using digital assets to circumvent US sanctions.