I hope you are having a great Friday. Thanks again for reading Barracuda.
In case you missed it, here are the latest briefs to keep you up-to-date:
In Brazil, the Federal Police raided some crypto exchanges | 6 October
The Gilinski factor could shake up Colombia’s crypto regulatory sandbox | 28 September
Asian fentanyl trade will pose increasing risk to Mexico-based crypto exchanges. | 22 September
From Latin America this past week, here are the most important updates on Bitcoin, blockchain and crypto politics in the news right now:
A hack against the Mexican military exposed cybersecurity vulnerabilities within AMLO’s government. The hack was carried out by environmentalist collective Guacamaya and targeted other militaries in the region.
In Brazil, former president Lula Ignacio da Silva is the favorite candidate to beat in Brazil’s run-off. Two economists close to him have plans to build a Latin America CBDC called SURCOIN that would theoretically unite Latin America’s currency system.
In El Salvador, president Nayib Bukele claims that his country exported $33 million in electricity in the first eight months of the year. Last year, El Salvador was a net importer of electricity.
Bukele’s op-ed in Bitcoin Magazine criticizes the global financial elites. Cory Klippsten, an investor with El Zonte Capital, came out with a hard defense of Nayib following Bukele’s bid for a second and unconstitutional term in office.
The Bukele is highly exposed to investment activity related to Bitcoin. Jessica Bukele is in charge of managing digital services investment advisor for the country’s foreign investment unit InvESt. This is Nayib Bukele’s cousin. She has been at work quietly carrying out investor activity at PROESA.
El Zonte land is trading hands at $205,000 per acre in some coastal areas. US financial firms are interested in gaining exposure to El Zonte real estate.
The US lifted sanctions on Chevron’s oil activity in Venezuela. This is a good sign for energy and mining investors with a high appetite for risk who want exposure to Venezuela’s Bitcoin mining industry.
In Colombia, Green party member Julian Lopez has taken the crypto baton from Mauricio Toro and is leading crypto legislation in congress. Colombia’s BanRep thinks Toro’s bill fell short and wants to press ahead on the development of a CBDC.
Argentina’s state-run YPF has started to supply electricity to a private Bitcoin miner. The pilot project will start with a 1MW facility in the Vaca Muerta region.
Argentina’s MakerDAO allocated $500 million into US treasury bonds. The stablecoin managed by MakerDAO, DAI, is backed significantly by Circle’s USDC.
Uruguay’s Central Bank is advancing a regulatory framework for crypto. US Bitcoin investor Tim Draper quietly lobbied Luis Lacalle Pou earlier this year in February.