DECRYPT · 2026-11-05 22:16 UTC

Bitcoin Fixes This? Paraguay President Resigns After Bank Lockout Hits 60% of Country

Paraguayan President Santiago Peña resigned after Ueno Bank's collapse locked out 2.9 million customers (60% of adults) and $800 million in public funds; he was impeached 78-0 minutes later. The banking crisis has revived Bitcoin advocates' argument that self-custodied crypto avoids intermediary risk, though it carries its own challenges like key loss. Paraguay's central bank placed Ueno into resolution after its solvency ratio fell below legal minimums and announced deposit guarantees up to roughly $36,000 per depositor.

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