📈 As Venezuela's economy continues to crumble, crypto remittances are stepping in to save the day! In 2023, a whopping 9% of the $5.4 billion sent to the country was in crypto, a total of $461 million. Who needs Western Union when you've got Bitcoin, right?

Despite sitting on the world's largest oil reserves, Venezuela's economy is as stable as a three-legged chair. Their attempt at a state-backed cryptocurrency, the "Petro", was about as successful as a chocolate teapot, and was shut down in 2024.

Now, the government is eyeing crypto for oil trade, but Tether isn't playing ball, freezing USDT assets held by Venezuela. Meanwhile, the country's power grid is struggling more than a cat in a bathtub, leading to a ban on crypto mining.

It's a rollercoaster ride in Venezuela, but one thing's for sure - crypto is playing a bigger role than ever before! 🎢