Welcome to Latam Insights, where crypto meets chaos and economics tries to keep up. This week: Brazil pops the first XRP ETF, Argentina laughs in the face of the mighty dollar, and Paraguay’s electricity might take a nosedive thanks to some very enthusiastic Bitcoin miners. Grab your popcorn 🍿.
XRP ETF Lands in Brazil—Because Regulated Crypto is the New Black
Hashdex, the global crypto overlord, announced on X (formerly Twitter, because why not confusing everyone?) the launch of XRPH11, hailed as the “world’s first XRP ETF”—or, as they put it, “another crypto milestone on the Brazilian stock exchange.” Translation: Now you can buy XRP without worrying if your basement keyboard miner will short-circuit the economy.
The company gushed about their shiny new toy:
Hashdex just launched XRPH11, giving investors secure and regulated access to XRP — aka that crypto which promises lightning-fast, pocket-friendly international payments and possibly fewer sleepless nights.
This is the ninth crypto ETF they’ve dropped in Brazil, and their 33rd product worldwide. Because who doesn’t want 33 ways to gamble on digital money?
Argentina: Officially Winning at Beating the Dollar Like It’s Mario Kart
Against every economist’s eyebrow raise, Argentina is somehow managing to keep the U.S. dollar in check. They shifted gears from currency control to a free-floating system without sending the peso into an existential crisis. President Milei must be secretly humming “Eye of the Tiger.”
Monday’s market party included the dollar exchange rate dropping near 1,100 pesos per dollar—a cool 4% dip intraday—which is basically like the peso saying, “Watch me work.”
Dollar futures also took a dive close to 6%, hinting traders expect the peso to keep its glow-up going, potentially nudging the central bank to step in at about 1,000 pesos per dollar. Who knew currency wars could be so dramatic?
Paraguay’s Electricity Grid: Facing an Impending Bitcoin-Induced Meltdown ⚠️
Bitcoin mining fans got a little too excited in Paraguay, a country blessed with cheap hydroelectricity. But according to the Paraguayan Industrial Union (UIP), if this mining mania keeps soaring, the power grid could toast itself by 2029. Yep, the fandom has consequences.
Julio Fernández, head honcho at the UIP’s Center for Economic Studies, sounded the alarm on how power demands have gone full Big Bang over the past few years.
Fernandez warned:
Itaipu and Yacyreta are no longer enough. We’re consuming more than one Itaipu turbine per year. Basically, live fast, mine hard, and hope the lights don’t go out.
Fun fact: Almost 100% of Paraguay’s electricity comes from the massive Itaipu dam, which pumped out 83.879 TWh in 2023. That’s a lot of juice, but apparently not enough to keep up with crypto’s relentless hunger.
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2025-04-28 02:58