Stablecoin Buying Rises in Argentina as Peso Tumbles
Industry insiders claim Argentina is experiencing a rise in stablecoin buying as black market dollar market prices spiral upward. Per Globo, the nation is in the grips of the “worst political crisis in 21 years,” with hy...
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Per Globo, the nation is in the grips of the “worst political crisis in 21 years,” with hyperinflation eating up the value of the fiat peso.
Last week, Bloomberg reported:
“The official [dollar exchange] rate is 287 pesos per dollar, while the black market trades at about 600 pesos on the streets of Buenos Aires.”...
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