Venezuela Looks to Tether for Oil Sales as Sanctions Return

Venezuela’s national oil company PDVSA looking for According to Reuters, it was introduced to Tether (USDT) as a way to circumvent new US sanctions. PDVSA is reportedly looking to further integrate the use of USDT as a hedge against freezing foreign bank accounts. Tether is the world’s largest dollar-pegged stablecoin. Tether did not respond to CoinDesk’s request for comment by press time. Reuters reported that PDVSA uses intermediaries to obfuscate on-chain trails during cryptocurrency transactions.

Shiba Inu is an Ethereum-based ecosystem represented by the second largest dog-themed token, SHIB. raised $12 million in token sale round to build privacy-focused blockchain, according to Monday’s press release. The list of investors participating in this round is: Comma 3 Ventures, Big Brain Holdings, Cypher Capital, Shima Capital, Hercules Ventures, Animoca Brands, Morningstar Ventures, Woodstock Fund, DWF Ventures, Polygon Ventures, Stake Capital, Illuminati Digital Capital, Primal Capital. , Mechanism Capital and Spirit Dao have all purchased the new network’s upcoming utility and governance token TREAT. The deal was completed by Shiba Inu Mint SA, an ecosystem development company established in Panama, the press release added.

Cryptocurrency trading firm FalconX has introduced a new prime brokerage service to enable financial institutions to trade remotely managed funds from regulated bankruptcies on exchanges. FalconX’s Prime Connect, announced Tuesday, also includes post-trade settlement, institutional credit, and portfolio margin, the company said in a press release shared with CoinDesk. Deribit, the world’s leading crypto options exchange, has integrated FalconX’s prime broking and custody solution for the first time. Following the collapse of FTX, the cryptocurrency industry recognized the need to store customer assets in a storage environment that is completely isolated from the assets of exchanges, brokers, and trading companies.

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