Crypto Biz: From shorting the Venezuelan Bolivar to shorting the US dollar

Ledn, a significant player in the Bitcoin lending space, boasts a loan book valued at $9.9 billion. Co-founder Mauricio di Bartolomeo, drawing on his experience navigating Venezuela’s hyperinflation, advocates for Bitcoin-backed loans as a hedge against a weakening US dollar, mirroring his past success shorting the Bolivar in favor of the dollar. Ledn’s platform allows Bitcoin holders to access dollar liquidity without selling their BTC.

Meanwhile, Guatemala’s largest bank, Banco Industrial, has integrated SukuPay’s crypto infrastructure into its mobile app, enabling users to receive US dollars more efficiently and cheaply than traditional methods. This integration marks a first for a major Latin American retail bank utilizing a crypto-native protocol for payment services, highlighting the increasing adoption of blockchain technology in the financial sector. SukuPay emphasizes the importance of making this technology “invisible” to the end-user for broader acceptance.

Concerns are rising within the US banking sector regarding yield-bearing stablecoins. NYU professor Austin Campbell suggests that the banking lobby views these stablecoins as a threat to their business model, which relies on low-interest deposits and higher-risk investments. The emergence of yield-bearing stablecoins like Figure Markets’ YLDS, offering competitive interest rates, is causing apprehension among traditional banks.

Despite recent market volatility triggered by President Trump’s tariff announcements, Bitcoin’s price has rebounded, exceeding $109,000. Michael Saylor’s Strategy firm continues its Bitcoin accumulation, recently purchasing 7,390 BTC, bringing its total holdings to 576,230 BTC and showcasing continued institutional interest in the cryptocurrency. This bullish sentiment is further reflected in the rising Bitcoin futures open interest. The overall market demonstrates resilience, with investors seemingly buying the dips and continuing to stack sats.