Venezuela's recent moves are indeed aggressive. The state oil company PdVSA is directly settling oil exports in USDT, with 80% of the revenue bypassing traditional banking systems—US sanctions seem to be somewhat ineffective.

The interesting part is that this is not just a government-level operation. The local currency has already collapsed, and ordinary people are turning to USDT to save money, transfer funds, and buy daily necessities. A stablecoin has unexpectedly taken on dual roles: serving as a "firewall" against sanctions for the government, and becoming a "lifeline" for ordinary people.

This raises new questions. On-chain transactions are fully transparent and traceable, but can regulators really keep it under control? A stablecoin issued by a private company has inadvertently become part of the global geopolitical machinery. Tether and US regulators are under immense pressure now. Honestly, this story is much more complex than it appears on the surface—whether to praise the resilience of stablecoins or to sound the alarm about potential risks, no one can say for sure.