Welcome to Latam Insights, a compilation of the most relevant crypto news from Latin America over the past week. In this edition, Bolivia evaluates Tether’s USDT inclusion in its payment system, Venezuela’s crypto P2P economy reaches new highs, and an Argentine federal judge issues new fund freezes in the Libra case.
Key Takeaways
Bolivia is exploring integrating USDT into its financial system to combat a severe foreign currency crisis.Venezuelan Binance P2P volumes reached $1.38 billion, acting as a primary forex channel rivaling oil exports.An Argentine judge froze crypto wallets tied to the Libra token after police traced millions in transfers.Indeed, after the 2020 ban was lifted in June 2024, trading volumes skyrocketed, with numbers rising over 600% in the first six months of 2025.
$1.38 Billion in One Month: How Venezuela’s Binance P2P Market Now Rivals Its Oil ExportsAlejandro Grisanti, Director and Founding Partner at Ecoanalitica, an economic consulting firm, announced that they had developed a new methodology to estimate the true size of Binance’s national peer-to-peer (P2P) market, stressing that the findings were remarkable.
Grisanti highlighted that these numbers prove Binance “has moved beyond being a niche market to become one of the country’s primary channels for buying and selling currency, reflecting the ongoing limitations of the traditional foreign exchange market.”
The volumes are relevant, as they represent 88% of all foreign currency sales executed by the central bank in June and 75% of the country’s monthly total oil exports.
Argentine Judge Orders Urgent Freeze of Crypto Wallets Tied to Controversial Libra TokenThe move scrutinized eight wallets labeled as “Libra team,” which had direct involvement in the token launch after Argentina’s President Javier Milei promoted it on social media. The report recorded the moves of these wallets, with four consolidating nearly $57 million into an address that was blocked and released by the United States District Court for the Southern District of New York, after it determined that the funds were no longer at risk of dissipation.
The referenced wallet allegedly mixed funds using several other wallets. On May 10, there was a massive fund movement that funneled nearly 500K through an interoperability protocol into a Tron address. This wallet also tried to obfuscate its transactions, but out of 17 movements executed, at least 10 passed through Binance. Similarly, eight wallets are linked to Bybit, two to OKX, and two to Bitfinex.
