Paraguay Bank Collapse Shows Why Bitcoin Was Created as USDT Hits Premium

Paraguay bank crisis is showing why Bitcoin was created in the first place. USDT sellers reportedly demanded premiums of up to 13% after authorities placed major digital lender Ueno Bank into resolution. The crisis left 3 million customers temporarily unable to access their accounts. Some peer-to-peer (P2P) listings showed Tether’s USDT trading around 6,942 Paraguayan guaraníes. That compared with the central bank’s November 4 dollar reference of 6,144.02 guaraníes. The USDT premium shows growing demand for dollar-denominated assets outside conventional banking. It also revives a question that shaped Bitcoin’s creation: what happens when people cannot freely access money held inside financial institutions? Paraguay Bank Crisis and Demand for Digital Dollars The Central Bank of Paraguay initiated Ueno Bank’s resolution process on November 3.

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