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EconomyParaguay
Paraguay's president has resigned after the Ueno digital bank collapsed and the country's currency weakened. The turmoil touches savers and the local market for the USDT stablecoin.
Economy ·
Paraguay's president, Santiago Peña, has submitted his resignation. The move came during a crisis around Ueno, a digital bank that collapsed.
Economy
The country's currency has also been sliding. One headline raises the question of whether a 13% premium on USDT, a stablecoin meant to track the dollar, is real.
In numbers
Economy
The material gives no further figures or details on the causes, so the full picture of the crisis is not yet clear.
A stablecoin is a crypto token designed to hold a steady value, usually tied to the U.S. dollar.
This article is not investment advice. It was written by our automated newsroom from published reports and official statements, using only the facts in them, and not read by a person before it was published. Report a mistake
Photo: Cmasi, CC BY-SA 4.0, via Wikimedia Commons
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