In 2023, Brazil’s revenue agency reported that Tether (USDT) accounted for 80% of all crypto transactions in the country. By mid-October, USDT transactions hit R$ 271 billion, or about $55 billion. Interestingly, this amount doubles Bitcoin’s transaction volume, which stands at R$ 151 billion or $30 billion. Stablecoins like USDT aim to hold a steady […]
Related Posts
Brazil’s Record Capital Outflows Continue in October 2024
Foreign investors withdrew R$2.5 billion ($438.6 million) from the Brazilian stock market in October 2024. This outflow continues a year-long trend. By October’s end, foreign investors had pulled out R$30.7 billion ($5.39 billion) from Brazil’s B3 exchange. The exodus raises questions about investor confidence in Latin America’s largest economy. President Lula da Silva faces criticism […]
Surge in Global Cargo Theft Amid Rising Costs; Latin America Most Affected
In 2023, cargo theft rates surged worldwide, particularly in Latin America where Mexico, Brazil, and Argentina reported the highest incidents. According to TT Club and BSI Screen Intelligence, inflation has notably driven the increase in thefts, especially of food and beverages. Violent thefts involving cargo vehicles became more frequent in Chile, Colombia, Argentina, and Peru. […]
Ibovespa Climbs as Brazil Faces Economic and Natural Challenges
On a day buzzing with economic forecasts and policy deliberations, Brazil’s Ibovespa index ascended, closing up by 0.44% at 128,154 points, reflecting a surge of 555 points. In parallel, the commercial dollar dipped slightly by 0.13% to R$5.15, amidst a session marked by volatility. The financial markets also witnessed a decline in future interest rates […]