Latin Americans are using stablecoins and crypto to combat inflation and access banking services where traditional systems have failed, according to the co-CEO of Bybit LATAM. The Latin American region is tapping into blockchain-based services for payments and access to financial services, signaling that the crypto industry serves more than just financial speculators chasing the next memecoin pump. Latin American citizens are increasingly using cryptocurrency to replace the region’s inadequate banking infrastructure, allowing them to facilitate digital payments and create stablecoin-based savings accounts. “LATAM adoption is quite high. People are using stablecoins for daily life, so it’s a whole different market,” said Patricio Mesri, co-CEO of cryptocurrency exchange Bybit’s Latin American division. “Crypto is actually changing the lives of people. You see adoption in Argentina, Venezuela, Bolivia and Mexico increasing rapidly,” he told Cointelegraph during an interview at the European Blockchain Convention...
Andreessen Horowitz is reportedly raising about $10 billion for new AI and defense investments, notably excluding crypto, despite its bullish stance on decentralization. Venture capital firm Andreessen Horowitz (a16z) is reportedly seeking to raise about $10 billion to invest in the artificial intelligence and defense industries, but crypto, long one of its flagship sectors, is notably missing. According to a Thursday Financial Times report citing anonymous sources, a16z is aiming to raise about $10 billion for new investments, including $6 billion for investing in more mature companies, $1.5 billion for each of the company’s AI applications and AI infrastructure funds, and over $1 billion for a defense and manufacturing-focused vehicle. No crypto-focused fund was mentioned, marking a rare omission for one of Silicon Valley’s most influential backers of the digital asset industry. Read more