Venezuela needs our help. The most effective way to do that right now is donations. I’ve linked the organizations that I’ve personally donated to below. Bitcoin: @PakoVM has set up a bitcoin donation page here pagos.dinerosinreglas.com/ap… GoFundMe: gofundme.com/f/emergency-rel… If you are interested in helping or donating, and are looking for guidance, send me a DM.

Shipping a truck to Choroní. Venezuela is magic realism.

Holding #bitcoin through the pandemic gave many around the world the economic stimulus that their governments failed to provide.

I'll just leave this here...

I'll just leave this here...

BREAKING: 1 Colombian Peso = 1 Satoshi #Bitcoin

What growing up in Venezuela has taught me: - "Bad Money" never dies, it just resets. - Most people have no clue what causes inflation. - Even less people get the concept of taxation by inflation. - Empresarios can be demotivated and corrupted without fair competition rules.

As my dad likes to say… “Venezuelans come from the future”

The future is orange. And we’re here for it @hodlwithLedn!

Big day for Bitcoin so far: - @krakenfx acquires @InterchangeHQ (congrats @danheld & co.) - @ledgerx launches Bitcoin options for retail clients (congrats @juthica & co.) - Bitcoin price rallies after a Fed rate cut announcement for the first time ever. It's 10.38 AM.

When we moved to Miami after Chavez was elected, I remember my Cuban friends telling me "I'm so sorry about what happened to your country... at least you're here now- get comfortable, you're not going back" I remember answering "thank you, but what happened in Cuba can't happen in Venezuela". We all think it can't happen to us... until it does.

Europe has a bitcoin city! Lugano’s vibe is electric. It was my first time here, and I’ll be back very soon! Thank you for an unforgettable time @LuganoPlanB, and congratulations on a phenomenal event!

Landed in El Salvador. The #bitcoin energy in this country is incredible.

Not too long ago people would ask us... "Why aren't you growing as fast as Celsius?" "Why can't you offer 0% bitcoin-backed loans like Celsius?" Today, we are helping their loan clients refinance out of a long and messy bankruptcy. To all of you who believed in our "slow and steady" approach then, and to all of you who believe today, gracias!

Don’t sell. Use your bitcoin as collateral and borrow to get what you want/need. Much better option tax-wise

I need to break this down because I am too excited. The President (E) of Venezuela is encouraging people to download a crypto wallet (AirTM), AND to install a VPN service in order to access the platform. They will be distributing aid and disbursing using AitTM's P2P network 1/

From today's blog: Bad money doesn’t die. If there is a currency that should have died a long time ago, it is the Venezuelan Bolivar. In 15 years, it has lost so much value that the central bank had to intervene three separate times to rename the currency and change the denomination of the bills. In the process, it removed fourteen (14) zeroes from the bills. That is the number of zeros in 100 Trillion (100,000,000,000,000). To put this into context, Bloomberg publishes its “Cafe con Leche” indicator, which states that as of last week, the average price of a latte coffee in Venezuela was 61.52 bolívares. This means that, if you were using the same bills from 15 years ago, you’d be paying 615,200,000,000,000 Bolívares for a coffee. If you have issues reading that number out loud, I don’t blame you. That’s six hundred and fifteen point two trillion “original bolívares” for a coffee. Needless to say, the currency is absolutely useless as a “store of value”. The rapid inflation also renders it useless as a “unit of account”. The bolivar is so useless as a unit of account, that even the Venezuelan regime announced its most recent salary adjustment in U.S. dollar terms, and not in the “national currency”. For further context, the chart below shows that at peak hyperinflation, it took just 3 months for the bolivar to lose 90% of its value. Lastly, there are two use-cases left for the bolivar as “medium of exchange”: as spare change when you don’t have exact amounts to pay with U.S. dollars, and of course, for government-related payments. The government forces you to pay Venezuelan taxes in bolívares, and issues subsidies and salary payments to government workers in bolívares. So, to recap: the bolívar is no bueno as a store of value, useless as a unit of account, and has 2 narrow use-cases as a medium of exchange. However, herein lies the key of why bad money doesn’t die: politics. One way to look at it is the following: countries can’t go bankrupt. If a country with the ability to print its own currency does not generate enough revenue to meet its expenses, it prints the difference. By doing so, it directly hurts all of its citizens that are saving in that currency. And - over a long enough time frame of this behaviour, the hope is that the citizenry becomes crippled by the pain, and votes the irresponsible government out democratically. However, this model breaks under certain scenarios. One such scenario is when democracies derange into dictatorships. This has happened in Venezuela, Zimbabwe, Cuba, Iran and many other countries. Do you see a pattern here between dictatorships and broken money? Many of the countries mentioned above, are - by many accounts, failed states. For context, in Cuba, they just announced that chicken won’t be coming in its monthly subsidy “meal box” to anyone over the age of 14, until further notice. No democracy means no opportunity for change. This is why thousands of people risk their lives every day to sail from Cuba to the United States, or to cross the Darien Jungle escaping Venezuela on foot to try to make it to the U.S. There is a very good reason why millions of Cubans, Venezuelans, Zimbabweans, Iranians, and many more use a currency that they know is broken: they don’t have a choice. And the sad reality is that democracy looks to be a long way away for these people. So much so, that they would rather risk their lives trying to leave, than continue to live in a system that has caused them so much pain - and yet, they feel like they can’t change. Tyrannical governments have no democratic pressure. They will never give up their right to print the national currency. Doing so means giving up their financing. And giving up their financing means facing justice. Through better money, like bitcoin, we can greatly diminish the political power of the national currency. Not using their currency effectively makes every unit of money they print directly fuel inflation. It forces the regime to operate in a constant state of hyperinflation - as we are witnessing in Venezuela today. Using better money diminishes the power of the ruling dictator. The hope is that, over time, this pressure allows for a change in government. However, we have not seen this in Cuba, North Korea, Zimbabwe, or many of the other countries that we’ve referenced in the last few decades. Now that we’ve covered why the worst of the worst of currencies have not died since, let’s take a look at why even some of the good ones are nearly impossible to kill - because of simple game-theoretic reasons. Reason 1: Most governments around the world run deficits - meaning, they spend more than they make. According to OECD data, during 2022 there were only 5 governments that ran at a surplus: Ireland, Norway, Sweden, Denmark and the Netherlands. Everyone else spent more than they made - and if you look back, the trend is pretty clear. Most governments run consistent deficits, regardless of macroeconomic or geopolitical reasons. Fact 2: Economic decisions that lead to surpluses lower popularity. Economic decisions that lead to deficits get you re-elected. Most people don’t understand the complexities that connect government spending with inflation and the local exchange rate vs. the U.S. dollar - even in developed economies. All things being equal, if you ask 10 people on the street if they’d like a new social program or subsidy, most of them will likely say yes. Very few people will ask you how it's being funded - or what will they have to pay for it. Conversely, if you tell the same 10 people that a subsidy or social program is being reduced or cut, they will ask you why and where is that money going instead. This, combined with the fact that competing political parties have competing agendas, means that even in a healthy democracy, a new entrant to the government has a high incentive to run budget deficits to fund programs that “undo” the actions of the previous government and help its voting base. Because of all of the above, I believe that FIAT currencies will continue to exist throughout my lifetime. And since all governments are playing the same game, all currencies will decay in value over time. Governments will point you to the value of the local currency vs. the value of another local currency, to show that they have “kept it stable”. But because they are all dropping, this will fool people into thinking local currencies are holding up their value in absolute terms, but every day they will be able to purchase less. Case in point: the Canadian dollar is known by most to be a stable currency. It is currently trading at 1.36 USD/CAD right now. It was trading at the same level in January 2018. If the value of the Canadian dollar has not changed since 2018 until now relative to the U.S. dollar, then why are Canadian government workers demanding double digit salary increases? Because it's not about how much value a currency loses versus another. It's always about the value a currency loses versus assets and commodities. To track the true value of your local currency, use bitcoin or gold. And if you want to protect the value of your hard earned money, save in Bitcoin. For the full article with images and references, visit: blog.ledn.io/en/bad-money-do…

Hard to put a day like today into words. Immensely grateful to our team of 65+ for their hard work and dedication. It takes a big family to make these services a reality. Thank you to our investors for their continued support. And most most of all - THANK YOU to our clients!

Red-pilled 3 people at a barbecue today. I love planting the #Bitcoin seed. That's the farming I like to do.

1/ @GalaxyHQ just published the first digital asset lending industry report in years. Some highlights: - The three largest lenders in CeFi, @tether, @galaxyhq, and @hodlwithLedn, control ~90% of the market share - Ledn’s loan book at the end of Q4 2024 was larger than Coinbase’s (and that was before we did $114 M in January…wait until you hear about how the rest of Q1 2025 was 🔥) - Excluding institutional-focused lenders like Tether, Galaxy and Coinbase, Ledn has over 50% of the market share in CeFi consumer and business loans. This is larger than all other reported lenders combined Link to report: galaxy.com/insights/research… 1/n

Javier Milei could be the next president of Argentina. He wants to kill the Argentinian Central bank and dollarize the economy. He's not the first LatAm leader with this idea. Here's what happened to inflation in Ecuador after its economy was dollarized back in January, 2000.

A Venezuelan migrant (whom I know) worked for a month in Peru to send $150 back to his mom in Venezuela. Remittance services wanted ~$20 to do the transaction. It is our duty to end this. #Bitcoin

Javier Milei is the new president of Argentina!

Six years ago ago we used to ring a bell at the office every time we got a loan application (which didn’t happen that often). Today we process more volume in one day than we did in all of our first year. If you believe in something, keep going. Hard work pays off.

You can ignore Bitcoin, but you cannot avoid the consequences of ignoring Bitcoin.

Incredibly excited about the future of @hodlwithLedn. Thank you to our investors for your continued support throughout this journey. To our dearest Ledn clients: we couldn't be here without your trust and support. Thank you! We're just getting started!

The Cantillon effect tends to produce massive economic inequality between those who friend regimes and those who don't. When printing during hyperinflationary cycles, fresh batches are given to *friends* first.

Bitcoin brings the family together.

Incredibly proud of our team for how far we've come - and could not be more excited about where we're going. Thank you to everyone that has supported us, and believed in us so far.

The last few days have brought eery reminders of Venezuela: - The daily presidential addresses, watched in a collective gasp to see the size of your benefit - The panic buying, empty shelves in some places - "Caserolazos" or clapping for heath workers - General restrictions

Standing room only at the @MicroStrategy Bitcoin for Corporations opening keynote! The revolution will be televised.

Boating around Amsterdam with the @hodlwithLedn crew!

My thoughts around Proof of Reserves and why it matters for Bitcoin. Thank you @BitcoinMagazine. bitcoinmagazine.com/articles…

Inflation is coming to every developing country outside the U.S. - and fast. A few ideas on what you can do: - Get rid of your local currency *now*, get USD. Don't wait until stimulus $ hits the street. - Don't store your USD in a local bank. They will likely fail. 1/n

Bad money doesn’t die. It resets. Buy bitcoin.

U.S.: We are going to go BRRR 💸💸 * Low to no inflation * Rest of the world: We are ALSO going to go BRRR 💶💶 * Hyperinflation, capital controls, eventual dollarization *

Another milestone for the longest running Proof of Reserves program in the lending industry @hodlwithLedn. Year to date we’ve originated over $1B in loans, and surpassed $100M in ARR. Lots more cooking 👨‍🍳, stay tuned! To all of you who have supported us: gracias totales!

Why fintech is eating banks, and why Bitcoin will eat fintech - all in one tweet.

Price always looks good on a @theBLOCKCLOCK

The middle class is what holds a society together. Saw this fall apart in Venezuela. The same is happening in North America - but in slow motion. Buy #Bitcoin

#Venezuela congress member (Legitimate) declares that the Maduro regime has issued an internet blackout in the country to prevent the spread of information. All services blocked outside of whatsapp.

Ni ellos mismos le paran bola a maburro y siguen usando twitter/X. No aguantan ser el ridículo mundial y la pela que están llevando en las redes. Ilon Motts poniéndolos en su lugar… Tic toc…

It's been 6 years now, but it feels like yesterday. The bitcoin I had mined with so much effort had tripled in price. I was elated-- and I wanted more. But BTC was the only thing I could sell to grow my business.. I was torn. I sold. And never wanted to sell again... 🧵 1/n

Every other weekend I would drive down this road. When I was young, it was with my parents and brothers to enjoy the beach as we fished and snorkeled. When I got older, it was with my friends to go surfing and have fun. Imagine losing that to communism. Te extraño Venezuela.

Chavismo expropriated one of Venezuela's telecom companies in 2007 as a "great accomplishment". Drunk on oil during 2013, the regime sent it's corporate dividends cheque to Chavez in heaven with helium balloons. Yes, that actually happened. See image below.

Heading back from El Salvador but I couldn’t go without getting myself some @BeanofFire! What’s happening in this country is truly special. You can breathe the energy and see the progress. I’ll be back soon. And I know I’m not the only one.

In Venezuela we say “laugh about it, so it doesn’t make you cry”

I hereby submit my application to join the @VibeCapitalMgmt team as an LP (Latino Partner). Thank you for your consideration.

A lot is said about Venezuelan politicians... but it takes courage to do these kinds of things, when you are at the mercy of paid thugs - in plain sight, with the entire apparatchik against you.

Is it a bird? Is it a plane? No! It's the Brazilian Real/USD pair! Watch out for other high flying currencies in LatAm, coming soon!

Very good work by @cburniske and @JackTatar in their Cryptoassets book. I made a summary of the formulas and key insights from the book here. medium.com/@mauriciodibartol…

Fun fact: Gasoline in Venezuela is so subsidized that rn the lowest denomination bill (=USD$0.01) is 100X higher than the cost of a full tank of gas. So much so, gas stations have started giving it away for free because they can't make change. Ppl literally fill up & drive away

Stepping on human rights, the haute couture way.

A pro-Bitcoin candidate was elected president of the U.S. for the first time in history. What does this mean for the crypto the industry? And who stands to benefit most? Check out my first piece for @ForbesCrypto to dive into the details! forbes.com/sites/mauriciodib…

Could not be more proud of this team. Today we're super excited to announce: - Our strategic collaboration with @Gen_Capital - The launch of our USDC Savings Account Now you can shelter your savings from inflation and earn the top risk-adjusted rate on your Bitcoin and USDC.

Watching you go from no-coiner to holder has been my favorite bitcoin story arch this week!

Estoy en Toronto procesando créditos para clientes en San Fernando de Apure, Venezuela. El orgullo que siento no es normal. Amo al internet. Amo al Bitcoin.

Abróchense los cinturones! Se viene semana cargada para Bitcoin y los mercados financieros: 🔸 Actualización de Shanghai para Ethereum el Miércoles 🔸Data de inflación de EE.UU y China 🔸 7 Discursos de la Fed, se publica la minuta de su última reunión Decisión de tasas del Banco Central de Canadá y más!

I’ve been having some great conversations with Celsius borrowers who are interested in refinancing their loans with @hodlwithLedn. I have a tremendous amount of sympathy for what you’ve all been through and it’s been great meeting so many of you through this process. 1/n

I am by no means an expert on Iran, but here's a quick authoritarian dictionary for mis amigos: Restrictions on exchanges = Bitcoin capital controls National Mining Framework = We need to find/tax miners Government Mining Revenue = Taking energy from citizens to get Bitcoin

The @OsloFF was the most inspiring event I’ve been a part of. It was surreal to listen to people’s stories from all corners of the world, and how bitcoin is making an impact in the fight for freedom. Flying home supercharged w energy and new friends. Gracias @gladstein & @HRF!

Incredibly proud of our team @hodlwithLedn for completing our most recent Proof-of-Reserves attestation. Ledn clients can now check that their balances as at July 31st at 11:59 PM were included in the report. Down to the Satoshi (or cent). Big thanks to the team @ArmaninoLLP!

Venezuela will be free. We will rebuild our system with freedom money. Si se puede. Gracias @gladstein @MariaCorinaYA

You know it’s not institutional investors buying at these prices (or at all). I almost feel bad about shirts that will be lost with $EOS and $TRON.... almost.

Price-fixing/rationing of animal protein is a pretty good leading indicator in my experience.

Huge milestone for our team today. We're live with Canada's first ever Bitcoin savings account - and the first one ever available to Spanish speakers. Couldn't be more proud. Next stop: Latinoamérica!

Growing up in Venezuela I never thought we'd become the poster child for inflation and authoritarianism. "That could never happen here"... many said.. "we are different". Yes, it can. And no, you're not. Opt out of fiat. Save in Bitcoin.

Damn. You can now build your own @COLDCARDwallet. @nvk takes takes the open source ethos to a whole other level. So great to see! Go #Bitcoin!

Polls officially closed in Argentina. Preliminary results/estimates should start coming out shortly.

.@aantonop's speeches were ahead of his time - this one is gold

South Sudan: I am the king of hyperinflation. Venezuela: *hold my beer*

Huge move for Canada's Bitcoin ecosystem 🇨🇦 Congrats @francispouliot_, @BitcoinBrains and the @BullBitcoin_ team as well as @Excellion, @Mario_Gibney and the crew at @Blockstream.

People in LatAm are quitting their jobs to join Play-to-Earn games at an incredible rate. The pay is much better and so are the working conditions. Reminds me of when GPU mining went viral in Venezuela.

Americans have been shorting the dollar using real estate for decades (that's what a mortgage is - borrow to short USD, backed by real estate). Most have done extremely well. Soon everyone will find out that they can now do this with #Bitcoin - and it's not just for Americans.

A United States Congressman just said "Shitcoin". @Melt_Dem, you bring out the best in them.

Hoy es un día importante en Venezuela. Todos sabíamos que no iba a ser facil. Gloria al bravo pueblo luchando en las calles. 💛💙❤️

It’s a big day for us at @hodlwithLedn! We’re proud to announce our regulatory approval in the Cayman Islands. Onwards 🚀

It’s almost as if we’ve been saying (and seeing) this for years…

Somewhere in Toronto…

In my happy place @TheBitcoinConf

Canadians still have to walk to a bank branch to make a wire transfer in the year of our lord 2023. #Bitcoin

Hanging with @OPENDIME, @Coinkite and the fam at the @bitcoinemb in Mexico City. Life's good.

Cheers to new block heights! #Bitcoin

Massive thank you to @andreloja and the entire @BitcoinAtlantis team for putting together an unforgettable event. Flying back more bullish than ever on #Bitcoin!

Has a Bitcoin halvening ever coincided with a U.S. election year? 2020 is shaping up to be a perfect storm.

Thank you Satoshi. That's it, that's the tweet.

Hey Toronto! Come hang with us and talk Bitcoin on November 12th at the usual 6.15 (pm). Hosted by @Coinkite and @hodlwithLedn. We're getting the fancy room at @regularsbar!

BTC quietly grinding higher...

The disconnect: SUNACRIP, Venezuela's newest cartel (aka Maduro regulator) is charging an 11.8% fee on all Bitcoin/crypto remittances converted. It is also quoting a bid price BELOW the localbitcoins rate As incompetent as they are evil. cc: @nic_carter @alegw @PeterMcCormack

100% this.

Los buenos somos, y seremos más. Siempre.

The flippenning is almost complete. @hodlwithLedn

At peak hyperinflation, it took just 3 months for the Venezuelan Bolivar to lose 90% of its value. Crazy chart, and even crazier to live through. This is why we bitcoin.

Just voted for the first time ever as a Canadian. Politics may not be perfect - but living in a democracy is a privilege that should be celebrated. You don’t know what you have until it’s gone.

Hoy es un día muy especial. A todos los que la vieron antes que Wall Street, felicidades! Hoy hay que celebrar. A los que todavía “no la ven” - buena suerte. La van a necesitar! #Bitcoin

New bitcoiners popping out of everywhere...

You can do both at @hodlwithLedn

My dad believed in bitcoin before I did. True story.

Great take by @michael_saylor. Speaking from experience, not taking "dollars off the table" when I was selling bolivares was the second best financial decision I ever made. The first one was co-founding @hodlwithLedn to lend dollars against #Bitcoin.

Few things are more fun than being on your favourite Bitcoin podcast. Thanks for having us on @TFTC21 @MartyBent!