Why the crypto crash hits different in Latin America

“As the Venezuelan economist Aarón Olmos of the Institute of Higher Administrative Studies (IESA) told Rest of World, people in Latin America began turning to crypto as a way to circumvent their unstable or stagnant economies. He said that in surveys he ran with crypto users in Venezuela, the most common response was, “I would rather have a digital asset whose price goes up and down than a currency whose only real trend is down, thanks to the political economy.””

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