TLDR Tech / Fintech
How a Silicon Valley startup became a crypto lifeline for Venezuela
Crypto fintech Kontigo pitched itself as a stablecoin-based financial platform for inflation-hit Latin American users. Behind the scenes, the company became a key channel for moving money into and out of Venezuela, enabling transactions that helped bypass US sanctions as the government increasingly relied on dollar-pegged crypto to route oil revenues. That exposure has triggered bank and payments shutdowns from firms like JPMorgan Chase and Stripe.
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