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📊 Bank profits in Venezuela: record figures crossing into the crypto ecosystem
By the end of July, Venezuela’s financial system reported an accumulated net profit of 710.417 million bolívares, equivalent to 1.437 million dollars, according to the firm Aristimuño Herrera & Asociados. This represents a year-over-year jump of 800.1% in local currency and 55.9% in foreign exchange, a sign that traditional banking is sailing through waters of high profitability.
For those who operate in the P2P market and the cryptocurrency ecosystem in Venezuela, these figures are not only a financial data point: they’re a barometer of liquidity in bolívares, competition for the dollar, and demand for digital assets like USDT.