Tether Steps In Where Bolivian Dollars Tap Out 🪙

Bolivia is moving toward a regulatory framework that would recognize Tether's USDt (USDT) as a payment currency, allowing the stablecoin to circulate alongside the boliviano and the US dollar for payments and savings, according to Economy and Public Finance Minister Jose Gabriel Espinoza. The proposal, which remains under review and would include anti-money laundering safeguards, marks another step in the country's effort to integrate digital assets into its financial system following the lifting of its crypto ban in 2024. Bolivia remains on the Financial Action Task Force's gray list.

The initiative comes as Bolivia grapples with a prolonged US dollar shortage after pressure on foreign exchange reserves forced the government to abandon its long-standing currency peg earlier this year. The resulting gap between the official and parallel exchange rates has increased demand for dollar-denominated alternatives such as USDT, which has become an increasingly popular payment tool in the country.

Elsewhere in the industry, Bitcoin miners pursuing AI infrastructure strategies are facing heightened investor scrutiny over insider stock sales. According to Blocksbridge Consulting, executives at TeraWulf, Cipher Digital, Riot Platforms and Core Scientific have disclosed stock sales in recent months, many executed under prearranged Rule 10b5-1 trading plans. Strategic investors have also trimmed holdings, including Tether, which reduced its stake in Bitdeer following the company's AI-driven rally. Blocksbridge noted that the TEM AI Infrastructure Growth Index has fallen 16% over the past month, with most stocks in the 20-company index down over the past month through July 8, as investors assess whether the benefits of miners' strategic pivots will flow to public shareholders.

CleanSpark, one miner pressing ahead with its AI pivot, saw its shares jump as much as 22% after signing a 20-year data center lease in Georgia that could generate up to $6.6 billion in contracted revenue.