đ A meeting without cameras that shook the economic agenda
The White House confirmed that Donald Trump and the acting president Delcy RodrĂguez held a meeting this Tuesday, September 22, at the Lotte New York Palace hotel, as part of the reception that the U.S. president hosted for foreign leaders during the UN High-Level Week. There was no press, no joint statements, and no official agenda was published. Far from diminishing its impact, this secrecy makes it the strongest political signal the country has received in years.
This is the first direct contact between a U.S. president and a Venezuelan ruler since the extremely brief coincidence between Barack Obama and NicolĂĄs Maduro at the Panama-hosted Summit of the Americas in 2015. In the room were the Secretary of State, Marco Rubio; the Treasury Secretary, Scott Bessent; the chief of staff, Susie Wiles; and the deputy chief of staff, Stephen Miller. The mere presence of Rubio and Bessent suggests the conversation touched two folders that directly interest us: sanctions and money.
đ Sanctions, oil and the dollar that is used on the street
Caracas brought to the table its recurring request: the lifting of the measures that still limit the countryâs international financial operations. On the U.S. side, the goal declared by Rubio has been to stabilize Venezuelaâs economy before discussing any political transition. And the chosen vehicle is crude oil: the oil deal that would give Washington control over a significant portion of Venezuelaâs reserves, with fields whose potential is estimated in the tens of billions of barrels.
For the average citizen, all of that sounds far away. But itâs not. Any easing of sanctions that allows correspondent banks to process payments again, open letters of credit, or liquidate foreign currency has an almost immediate effect on the supply of dollars in the formal market. And when formal supply moves, the parallel market also movesâalmost always in the same direction, but with more noise.
đ What does the P2P market expect from all this?
The Venezuelan peer-to-peer market lives on the gap and on speed. Each high-impact political announcement turns into minutes of a wave of orders: some rush to buy USDT thinking the bolĂvar will weaken, and others dump stablecoins expecting that an eventual financial normalization will bring the official exchange rate closer to the parallel one. Neither of the two readings is automatically correct.
đ° USDT as a barometer of country risk
In Venezuela, USDT works as a mix of safe haven, unit of account, and means of payment. When political risk rises, demand for tether grows and the price in bolĂvares tends to stretch. When a piece of news appears that sounds like an openingâlike this meetingâpart of the market interprets that more legal dollars could enter, and sells crypto to switch into bolĂvares or physical currency. That impulse usually lasts only a few hours and then corrects.
Our recommendation is the same as always: donât operate in panic. Diplomatic meetings generate headlines, not regulations. Until there is an official text, a license issued by the OFAC, or a Treasury statement, what exists is expectation. And expectation is paid dearly in spreads when the market is thin.
đĄď¸ Digital banking and remittances: the other front
If anything could truly change with this rapprochement, itâs the cost of moving money. Today, people receiving remittances face high fees and long processing times; thatâs why so many Venezuelans moved toward crypto onramps and digital wallets. An eventual banking reconnection would make sending traditional foreign currency cheaper, but it could also push crypto platforms to compete with better rates and less friction. The user wins in any scenario where there are more options.
Watch out for one detail: the oil deal and reserves are a matter of state, but the flow of dollars into the real economy depends on how that income is distributed. If the money arrives at PDVSA and the Treasury but doesnât trickle down to commerce, P2P will keep being the escape valve for whoever needs operational foreign currency.
đ Read the full article: https://pitbullchain.com/noticias/trump-y-delcy-a-puerta-cerrada-lo-que-mira-el-mercado-del-dolar-y-el-usdt-624214
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