Kontigo faces service cutoffs from multiple institutions due to involvement in Venezuela sanctions controversy
Show original
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!
A welcome pack worth 6200 USDT for new users! Sign up now!
According to The Wall Street Journal, the crypto fintech company Kontigo, invested by an exchange Ventures, has become embroiled in controversy for allegedly facilitating the flow of funds into and out of Venezuela's economic system. Disclosure materials show that stablecoins are gradually becoming an important means of settlement for Venezuela's oil exports, with some funds flowing in through local banks, over-the-counter channels, and licensed crypto trading platforms, including Kontigo. Currently, institutions such as JPMorgan, Stripe, and Bridge have severed services with Kontigo, and some users have reported restrictions on the platform's PayPal payment channel. Kontigo has also recently suffered a hacker attack, with a significant decline in on-chain wallet transaction activity. The company is conducting an internal compliance review and emphasizes its adherence to U.S. sanctions and relevant legal requirements.
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!
You may also like
Guoyuan International: Maintains Buy Rating on Shuidi (WDH.US), AI-Driven Rapid Performance Growth
After Waterdrop (WDH.US) released its Q2 2026 results, Guoyuan International issued a research report maintaining a "Buy" rating on Waterdrop with a target price of $1.25.
智通财经•2026/09/16 10:46

TD Cowen Initiates Arcus Biosciences at Buy
MT newswire•2026/09/16 10:42
Social Buzz: Wallstreetbets Stocks Mostly Higher Premarket Wednesday; Broadcom, Micron Technology to Advance
MT newswire•2026/09/16 10:38
SK Hynix South Korea Union Members Vote in Favor of Revised Wage Agreement
MT newswire•2026/09/16 10:37
Crypto prices
MoreBitcoin
BTC
$75,920.02
-1.45%
Ethereum
ETH
$2,404.1
-3.08%
Tether USDt
USDT
$0.9991
-0.04%
BNB
BNB
$711.06
-1.04%
XRP
XRP
$1.29
-7.93%
USDC
USDC
$0.9999
-0.01%
Solana
SOL
$97.25
-3.63%
TRON
TRX
$0.3346
-1.20%
Zcash
ZEC
$1,208.61
+5.74%
Hyperliquid
HYPE
$77.89
-1.89%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now