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Venezuela collects 80% of oil sales revenue in USDT - Cryptopolitanwww.cryptopolitan.com/venezuela-collects-80-oil-revenue-in-usdt/
276 sats \ 3 comments \ @coinfabulator 23 Dec econ

I can't speak as to the reliability of cryptopolitan, but it's been around for a while. If this article is true, things are about to get very interesting. Donald Trump is currently directing the US to commit acts of war against Venezuela in order to force regime change. Imagine if through sanctions, the US is able to force Tether to freeze Venezuela's USDT.

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87 sats \ 0 replies \ @Undisciplined 23h

I wonder if the switching cost to other payment rails is very high. It seems like it probably isn’t.

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11 sats \ 0 replies \ @freetx 21h

Not saying this is whats happening but "real 3d chess" goes like this:

  • Create lots saber-rattling and impose lots of banking sanctions on large resource producers
  • Force producers to get paid in stablecoins, tacitly accept this
  • Pass laws that stablecoin companies must back 1:1 their stablecoins with UST
  • You just created lots of buyers of your debt.
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0 sats \ 0 replies \ @winteryeti 11h

...then Tether wouldn't really be decentralized anymore, would it? Time to dump USDT and watch it de-peg.

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