USDT in focus after Maduro’s arrest as Tether underpins Venezuela’s oil trade
The post USDT in focus after Maduro’s arrest as Tether underpins Venezuela’s oil trade appeared on BitcoinEthereumNews.com.
Venezuela is experiencing sanctions and hyperinflation after former president Nicolás Maduro was arrested on January 3, 2026, during a military operation and transported to the U.S. But even under these conditions, USDT Tether continues to support oil trade and everyday payments in the South American country. The main oil company in Venezuela decided to use USDT for oil sales to avoid the problems of a failed banking system. Analysts and economists stated that the state-run oil company in Venezuela utilized USDT for oil transactions and to circumvent the traditional banking system, which is currently experiencing numerous issues. Venezuela used USDT to pay for oil sales after sanctions blocked normal banking routes In 2020, the U.S. imposed strong sanctions on Venezuela that led to the decline of the banking system and pushed many foreign banks out of the country. The state-owned oil company Petróleos de Venezuela began using USDT to enable buyers to transfer USDT from one digital wallet to another. Some of them even set up special addresses for oil sales, while others used exchange agents. This new payment system allowed oil shipments to continue even when normal payment paths remained closed. Eighty out of every 100 dollars the country received from oil came through digital currencies. Because the payments are recorded on a public ledger, it’s easier to track transactions and maintain accurate records. However, U.S. officials began tracking the payments and even partnered with Tether to freeze many digital wallets linked to these oil payments due to irregularities. Some analysts claim that investigators used these records to track funds that the Maduro government had moved illegally. This didn’t stop people and businesses in Venezuela, though, because they continued using USDT to sell oil, move money, and survive the harsh conditions brought about by heavy sanctions and long-term economic…
Filed under: News - @ January 12, 2026 2:22 am