Venezuela

Bitcoin

2026-10-02 19:15:58

Cornell index finds higher Bitcoin ownership where banking access is weak and currencies are unstable

Cornell University’s new Bitcoin Adoption Index says the highest shares of people who have ever owned bitcoin were found in El Salvador, Venezuela, and Nigeria, based on a survey of 25,880 respondents across 25 countries. The report argues that the leaders are not wealthy financial hubs, but places where national currencies have been unstable and access to dollars or dependable banking is difficult. In those settings, bitcoin is described less as a speculative asset and more as a practical workaround. Cornell also found that understanding of Bitcoin’s core mechanics remains limited: 58% of respondents did not know the supply is capped at 21 million coins. The study was fielded by Morning Consult between Dec. 16, 2024 and March 10, 2025, in partnership with several Cornell-affiliated and nonprofit groups.

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Donald Trump

2026-10-01 21:10:46

TechCrunch says Trump reportedly consulted Grok before Venezuela invasion plan

According to TechCrunch, U.S. President Donald Trump reportedly sought input from his AI chatbot Grok before an operation to invade Venezuela and capture President Nicolás Maduro. The report says the consultation took place ahead of the action. TechCrunch also said Grok reportedly responded in a supportive way. The claim centers on the use of an AI chatbot in connection with a major political and military decision, with Trump, Venezuela, Maduro, and Grok all named in the report. No additional details were provided in the source digest beyond TechCrunch’s account.

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Venezuela

2026-09-30 15:17:35

Venezuelan police arrest suspect accused of breaching Binance accounts and moving funds

Venezuelan authorities have arrested a suspect accused of illegally accessing Binance user accounts and transferring funds, according to a Techub News report citing Wu Blockchain. The suspect, identified as Brayan José Briceño Durán, was detained on Sept. 29 in Carabobo state by the Scientific, Penal and Criminal Investigation Corps, or CICPC. Police alleged that the suspect used forged identity documents and computer-based methods to gain unauthorized access to Binance accounts. Authorities said the transferred funds were then used to buy high-end cars, mobile phones, and computers. The suspect has been handed over to prosecutors, and the case remains under investigation. No further details on the amount of funds involved or the number of affected accounts were disclosed in the report.

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Venezuela

2026-09-15 15:44:57

Venezuela Weighs Adopting the U.S. Dollar as an Official Currency

Techub News, citing Crypto Briefing, reported that the Venezuelan government is considering making the U.S. dollar an official currency. The move is being weighed as a way to stabilize the economy, reduce inflation, and attract foreign investment. The report also said such a step could come with a significant trade-off: Venezuela may lose monetary sovereignty. The brief did not provide a timeline or further policy details, and no additional implementation plan was disclosed in the source summary. The report frames the proposal as a potential economic stabilization measure rather than a finalized decision. At this stage, the available information is limited to the government’s consideration of the idea and the stated goals and risk attached to it.

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USDT

2026-09-15 13:54:32

USDT tied to failed Venezuela oil deal that left Orlen out about $230 million

Cointelegraph reported that Tether’s USDT was used in parts of a failed Venezuelan oil transaction that resulted in roughly $230 million in losses for Polish state-owned energy group Orlen. The deal took place in late 2023, when Venezuela’s state oil company PDVSA began requiring some payments in USDT as it sought to bypass U.S. financial sanctions. In November 2023, Samer Awad, a former executive at Orlen Trading Switzerland, led a purchase of 6 million barrels of Venezuelan crude from PDVSA. On Dec. 4, Orlen sent a $230 million prepayment to Dubai-based seller Hannon International Middle East. According to the report, Hannon then used multiple crypto brokers and intermediaries to convert funds into USDT, but much of the money disappeared through layered transfers. Orlen ultimately received only about $29 million worth of crude and terminated the contract. The report also said Warsaw regional prosecutors opened an investigation into the related oil contracts in January 2025.

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Coinbase

2026-09-12 07:56:10

Coinbase co-founder Fred Ehrsam takes a Venezuela oilfield bet through Primavera

Coinbase co-founder Fred Ehrsam has moved beyond crypto and venture investing into Venezuelan oil, backing a project that sits at the intersection of energy policy, political risk and capital allocation. Through Primavera Infinita, a company he co-founded with Stanford graduate Manuel Iribarren, Ehrsam signed a production participation contract with Venezuela’s state oil company PDVSA in early September for the Budare-Elotes block. PDVSA’s long-term target is for the block to add more than 70,000 barrels a day. The move stands out against Ehrsam’s background. He worked as a foreign exchange trader at Goldman Sachs, co-founded Coinbase with Brian Armstrong in 2012, and later launched crypto investment firm Paradigm in 2018. His broader investment record also includes OpenAI, Anthropic and SpaceX. The report argues that the real bet is not only on oil production, but on how long the current political opening in Venezuela remains in place. The article also places Ehrsam’s move in a wider pattern across crypto wealth. BitMEX co-founder Arthur Hayes has disclosed exposure to oil, metals and defense names alongside BTC and ETH, while Tether has used profits and excess capital to build a portfolio spanning energy, agriculture, land and AI, including a controlling stake in Adecoagro. Together, those cases point to a shift: crypto capital is no longer focused only on bringing real-world assets on-chain, but is increasingly buying and operating physical assets directly.

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Coinbase

2026-09-11 02:21:38

WSJ: Coinbase co-founder Fred Ehrsam moved to Venezuela to pursue oil ambitions

The Wall Street Journal reported that Coinbase co-founder Fred Ehrsam spent months living in a luxury hotel in Caracas while building local connections as he pursued a long-shot plan to become one of Venezuela’s largest oil producers. Ehrsam, 38, had no prior experience in the oil and gas business, according to the report. He has nonetheless emerged as a potential participant in U.S. President Donald Trump’s push to revive Venezuela’s declining oil sector. Earlier this year, Primavera, a company Ehrsam co-founded, signed a production-sharing contract last week with Venezuela’s state oil giant Petróleos de Venezuela. The report links the crypto billionaire’s latest move to the country’s energy industry rather than the digital asset sector.

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Policy Regula

2026-09-02 03:05:11

US energy secretary says Venezuela crude output could more than double in coming years

US Energy Secretary Wright said on Sept. 2, after arriving in Venezuela, that agreements to be signed in Caracas by US and other international oil companies are expected to help lift Venezuelan crude production by more than 100% over the next few years. He said investment tied to those deals would "substantially increase" oil volumes available to the market and put downward pressure on prices. Wright also said the biggest constraint on gasoline and diesel prices at present is refining capacity, not crude supply alone. He added that US gasoline prices are expected to fall in the coming weeks, citing Trump administration measures that eased refinery regulations. Venezuela once produced more than 3 million barrels per day in the late 1990s, but output later dropped sharply because of underinvestment, poor management, and US sanctions. In recent months, the country has been producing about 1.1 million to 1.2 million barrels per day, according to the report cited by BlockBeats from Jin10.

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