🚨🚨 EL DORADO P2P EXCHANGE CEASES OPERATIONS IN VENEZUELA 🚨🚨

Here’s the deal with El Dorado P2P in Venezuela, as I see it!

It turns out that El Dorado P2P, that platform we used to exchange our stablecoins for bolívares, is gone from Venezuela! The CEO himself, Guillermo Goncalvez, announced that they would suspend operations immediately. I can only imagine the bitter pill it was for him, because he even denied that they had any intention of promoting speculation with the parallel dollar.

And the truth is, the Venezuelan government is really cracking down on currency exchange houses. Recently, about 20 people were arrested just for managing Instagram accounts that published the price of the parallel dollar, which is always different from that of the Central Bank of Venezuela. And not only that, they were accused of terrorism and money laundering! It’s crazy how things are getting around here.

El Dorado was a way out for many of us, especially with this inflation that gives us no respite. But well, as you can see, despite Goncalvez insisting that they were not involved in speculation, the closure of El Dorado makes it clear how difficult it is to operate here with so many restrictions and the economy as it is. I wonder if this will affect other platforms, like Binance, which we also use a lot. I hope they don’t start blocking our access as well. We’ll see what happens!