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Latam Crypto News: Mexico Investigates Worldcoin

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BeInCrypto comprehensive Latam Crypto Roundup brings Latin America’s most important news and trends. With reporters in Brazil, Mexico, Argentina, and more, we cover the latest updates and insights from the region’s crypto scene.

This week’s roundup covers Mexico’s investigation into iris-scanning project Worldcoin, MicroStrategy CEO’s speech in Argentina, and more.

María Corina Machado Proposes Bitcoin as Venezuela’s Reserve Asset

María Corina Machado, leader of Venezuela’s opposition to Nicolás Maduro’s government, has introduced a bold proposal to tackle the country’s economic crisis: adopting Bitcoin as a national reserve asset.

“We are grateful for the lifeline that Bitcoin provides, and we hope to adopt it in a new and democratic Venezuela,” Machado said in an interview with Alex Gladstein, Strategy Director at the Human Rights Foundation.

During the interview, Machado emphasized Venezuela’s economic collapse, noting that inflation has skyrocketed by 8,000,000% since 2016. This catastrophic situation has forced millions of Venezuelans to flee the country in search of stability. In addressing Venezuela’s economic woes, Machado stressed the pivotal role Bitcoin has played for many. 

“Some Venezuelans found a lifeline in Bitcoin during hyperinflation, using it to protect their wealth and finance their flight. Today, Bitcoin bypasses government-imposed exchange rates and thus helps many of our people. It has evolved from a humanitarian tool to a vital means of resistance,” she explained.

Read more: How to Protect Yourself From Inflation Using Cryptocurrency

Countries with the Highest Inflation
Countries with the Highest Inflation. Source: X/@FocusEconomics

Machado also highlighted how Latam country’s citizens have turned to crypto to shield their assets amid hyperinflation, stressing that the cryptocurrency could be crucial in rebuilding the nation’s economy.

“We visualize Bitcoin as part of our national reserves, helping to rebuild what the dictatorship stole. […] Fortunately, unlike bank transfers, which the regime usually blocks, Bitcoin donations cannot be seized. Let’s use this technology to achieve the change that Venezuela desperately needs,” she concluded.

Machado’s proposal positions Bitcoin not only as a financial tool but as a cornerstone for the country’s recovery and resistance against government control.

MicroStrategy CEO Praises Bitcoin During Visit to Argentina

Phong Le, CEO of MicroStrategy, recently attended the “MicroStrategy World: Buenos Aires Edition” event in Argentina, where he shared his insights on Bitcoin and the future of corporate solutions.

During his keynote speech, titled “Let the Data Lifeblood Flow & Bitcoin for Corporations and Government,” Le discussed the impact of artificial intelligence in the workplace, as well as the company’s strategy regarding AI and Bitcoin. He reaffirmed his strong belief in cryptocurrencies, calling Bitcoin “the best financial technology ever invented.”

Reflecting on MicroStrategy’s Bitcoin journey, Le recounted the company’s decision to add BTC to its balance sheet in 2020. He noted the coin’s rise from $11,000 to $67,000 and acknowledged the market downturn following the collapse of fraudulent entities like FTX and Terra Luna.

“In 2020, our company decided to put BTC on its balance sheet. Later, Square did the same. Three months later, Tesla. This is what we call corporate adoption,” he explained.

Read more: Who Owns the Most Bitcoin in 2024?

From a geopolitical standpoint, Le believes Bitcoin could play a key role in shaping the global financial landscape. He predicted that more countries would follow El Salvador’s lead, which adopted Bitcoin as legal tender in 2021.

Le also touched on the upcoming US presidential elections, noting Donald Trump’s pro-Bitcoin stance. “If you want to be the most powerful or relevant country, you have US dollars, you have gold, and you should have BTC,” Le stated. MicroStrategy remains the largest institutional Bitcoin holder, with 226,500 BTC — over 1% of the total Bitcoin supply.

El Salvador’s Financial System Converted Only $6.6 Million to Bitcoin, Reports GAFI

A recent report from the Latin American Financial Action Task Force (GAFILAT) highlights the minimal impact Bitcoin has had in El Salvador since its adoption as legal tender. Despite being the first country to embrace the cryptocurrency, the financial system has only converted $6.6 million to Bitcoin between 2021 and 2024. This amount represents a mere 0.03% of the assets managed by the country’s major banks.

While the Latam country’s government remains optimistic about Bitcoin, GAFILAT’s findings suggest that the crypto has yet to significantly influence the national economy. Remittances sent via digital wallets account for less than 1% of total remittances received. In the first seven months of 2024, Salvadorans abroad sent $49.7 million through digital wallets, a 6.3% decline compared to the previous year.

The report also notes that Salvadoran banks have set strict limits on automatic Bitcoin-to-dollar conversion, capping transactions at $200,000. Additionally, alert systems are in place to detect suspicious activity, though GAFILAT warns that digital asset exchanges still carry risks, including potential use for unregulated cryptocurrency transactions.

Read more: Crypto Regulation: What Are the Benefits and Drawbacks?

Since Bitcoin’s adoption in September 2021, the government established a convertibility trust managed by the Development Bank of El Salvador (Bandesal). However, details regarding the amounts converted remain classified.

Meta has announced that it will inform users in Brazil about how their personal data is used to train its Artificial Intelligence (AI). Notifications will be sent via email and through Facebook and Instagram, asking for permission to use their data.

In July, Meta suspended its Generative AI tool in Brazil after the National Data Protection Authority (ANPD) requested changes to its privacy policy. Despite Meta’s efforts to comply with AI regulations in the country, the tool was halted. Now, the Brazilian Ministry of Health will inform citizens about how Meta plans to use their data, with users given the option to decline.

“We are disappointed with the ANPD’s decision. AI training is not unique to our services, and we are more transparent than many in the industry who have used public content to train their models,” Meta explained. “Our approach complies with Brazilian privacy laws, and we will continue to work with the ANPD to address their concerns. This is a setback for innovation and AI competitiveness, delaying the benefits of AI for people in Brazil.”

Read more: How To Invest in Artificial Intelligence (AI) Cryptocurrencies?

Global efforts to regulate AI remain scattered. In March, the European Parliament passed a regulation aimed at curbing AI practices that infringe on human rights. This includes bans on AI for biometric categorization and unauthorized photo or video captures.

“Thanks to the Parliament, unacceptable AI practices will be banned in Europe, and the rights of workers and citizens will be protected. The new AI Office will help companies comply before the rules take effect. We are ensuring that human values remain central to AI development,” the Parliament stated.

Additionally, the United Nations General Assembly proposed a resolution to create governance systems for AI. The UN urged member states to avoid AI practices that violate human rights or hinder societal development, pushing for systems that promote safety, inclusivity, and sustainable technological growth.

Mexico’s INAI Launches Investigation Into Worldcoin

Adrián Alcalá, president commissioner of Mexico’s National Institute for Transparency, Access to Information, and Protection of Personal Data (INAI), announced that an investigation will be initiated against Worldcoin (WLD) for allegedly obtaining personal data without proper consent.

In recent weeks, Worldcoin has come under fire in several Latam countries, including Chile, Colombia, Ecuador, and Argentina, all raising concerns about crypto project’s data collection practices. The accusations center on improper handling and misuse of personal data. Alcalá confirmed that INAI will now look into potential data violations by Worldcoin, which has been operating in Mexico since last year.

“We initiated an ex officio investigation to analyze the possible data breach by Worldcoin. We invite all persons who feel their information was compromised to file complaints,” Alcalá shared on X.

Read more: What Is Worldcoin? A Guide to the Iris-Scanning Crypto Project

The company is also facing growing criticism from users who claim their privacy was violated. Customers have alleged they were “scammed” by not receiving the promised cryptocurrency payments, and some accuse the company of scanning the irises of minors.

In April, Mexican Congresswoman María Eugenia Hernández introduced a proposal to investigate Worldcoin’s operations. She highlighted the importance of safeguarding Mexicans’ personal data, noting that Mexico had not yet addressed the issue as other nations had. Hernández emphasized the need for clear rules on how private companies handle citizens’ biometric data.

“We cannot allow our citizens’ data to be in the hands of private individuals without clear guidelines for its use. It’s crucial to raise awareness about what this company is doing and the risks of continuing to exchange biometric data for a few cryptocurrencies,” Hernández said.

As the Latam crypto scene grows, these stories highlight the region’s increasing influence in the global market. Stay tuned for more updates and insights in next week’s roundup.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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3 Meme Coins to Watch For The Last Week of February 2025

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DOGEai, TST, and BROCCOLI are three meme coins drawing attention for the last week of February. DOGEai, launched on Solana, is up 110% in the past seven days, positioning itself as a leading AI meme coin.

TST remains one of the most popular meme coins on the BNB chain despite a recent correction. At the same time, BROCCOLI, inspired by Binance co-founder CZ’s dog, has also seen significant volatility.

DOGEai (DOGEAI)

DOGEai is an artificial intelligence coin launched on Solana. Its market cap is now $32 million, up 82% in the last seven days. This rise has positioned DOGEai as one of the most talked-about AI meme coins in recent days.

DOGEAI Price Analysis.
DOGEAI Price Analysis. Source: TradingView.

DOGEai leverages multiple narratives, including Dogecoin’s popularity, the growing interest in DOGE (Department of Government Efficiency), and the broader AI cryptos trend. It defines itself as “an autonomous AI agent here to uncover waste and inefficiencies in government spending and policy decisions,” offering bill summaries and insights into government expenditures.

If the current uptrend continues, DOGEai could test the resistance at $0.048, with potential targets at $0.059 and $0.069. However, if a downtrend emerges, DOGEai has support at $0.030, and if that level is lost, it could drop to $0.018 or even $0.0092.

Test (TST)

TST has emerged as one of the most popular meme coins on the BNB chain, benefiting from the chain’s growing volume, which recently even surpassed Solana.

In the days following its launch, TST reached a market cap close to $500 million, then entered a strong correction phase. Its market cap has since dropped to $78 million.

TST Price Analysis.
TST Price Analysis. Source: TradingView.

If the BNB narrative gains strength again, TST could benefit as one of its most popular meme coins and may test the resistance at $0.10. A breakout above this level could push TST to $0.20 or even $0.25 if buying pressure intensifies.

However, if TST fails to regain strong upward momentum, it could test the support at $0.0719 and potentially drop to its lowest levels since February 9.

CZ’S Dog (BROCCOLI)

BROCCOLI was launched a few weeks ago after Binance co-founder CZ revealed his dog’s name, sparking a flood of BROCCOLI tokens on the market.

The largest of these tokens quickly surged to a $249 million market cap in its early days but has since dropped to $52 million.

Like TST, BROCCOLI benefited from the recent rise of the BNB ecosystem but has since entered a strong correction phase. It is down 40% in the last seven days.

BROCCOLI Price Analysis.
BROCCOLI Price Analysis. Source: TradingView.

If the downtrend continues, BROCCOLI could test support near $0.04, and a break below this level could push it to its lowest price since launch.

However, if the BNB ecosystem and meme coins regain traction, BROCCOLI could benefit, especially given the popularity of dog-related meme coins like Dogecoin and Shiba Inu. In this bullish scenario, BROCCOLI could rise to test the resistance at $0.113.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Ethereum Rollback Debate Intensifies After Bybit Hack

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The crypto community is divided over calls for an Ethereum blockchain rollback following a massive security breach at Bybit.

On February 21, the exchange lost nearly $1.5 billion in ETH to hackers, sparking discussions about whether Ethereum should intervene to recover the stolen funds.

What is a Blockchain Rollback?

A blockchain rollback, also known as a reorganization, involves reversing confirmed transactions to restore the network to an earlier state.

This process usually happens after a major security breach or exploit. Validators must reach a consensus to discard the affected blocks, effectively erasing the malicious transactions.

Despite its potential benefits, a rollback remains a controversial and rarely used measure due to its impact on a blockchain’s trust and decentralization.

Blockchains operate on the principle of immutability, meaning transactions are expected to be final once confirmed. So, rolling back transactions challenges this principle, raising concerns about the security and reliability of the network.

Crypto Leaders Clash Over Ethereum Rollback Proposal

BitMEX co-founder Arthur Hayes has been vocal in advocating for a rollback to solve the ByBit hack. He pointed to the 2016 DAO hack, where Ethereum underwent a hard fork to recover stolen funds, as precedent.

Hayes argued that since Ethereum previously compromised on immutability, another intervention should not be off the table.

“My own view as a mega ETH bag holder is ETH stopped being money in 2016 after the DAO hack hardfork. If the community wanted to do it again, I would support it because we already voted no on immutability in 2016,” Hayes said.

JAN3 CEO Samson Mow also supported the rollback, stating it could prevent North Korea from using the stolen funds to fund its nuclear weapons program.

However, not everyone agrees. Pseudonymous crypto trader Borovik strongly opposed the idea, arguing that a rollback would jeopardize Ethereum’s credibility and neutrality.

Bitcoin advocate Jimmy Song also dismissed the possibility, stating that the Bybit hack cannot be compared to the 2016 DAO exploit. Song emphasized that the DAO hack allowed for a 30-day intervention, whereas the Bybit attack is already finalized, making a rollback impractical.

“I know people are expecting the Ethereum Foundation to roll back the chain, but I suspect it’s already too much of a mess to do it cleanly,” Song added.

Meanwhile, Ethereum supporter Adriano Feria introduced an alternative perspective. He argued that Bybit could have avoided this situation by using a Layer 2 (L2) solution with conditional reversible transactions.

According to Feria, blockchain technology needs some form of reversibility to ensure real-world adoption.

“Whether through social recovery or another pre-determined, immutable, and transparent decision-making process, real-world mass adoption will not work without reversible transactions. Without this capability, transactional activity will inevitably gravitate toward TradFi systems that already provide it,” Feria stated.

This debate raises a fundamental question for Ethereum: should it prioritize immutability or intervene in extreme cases?

While some see a rollback as a necessary response to an unprecedented loss, others fear it could undermine the core principles of decentralization. Ethereum’s next steps will likely shape its long-term credibility and trust within the crypto space.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Berachain (BERA) Falls 15% After Recent Rally Surge

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Berachain (BERA) is down almost 15% in the last 24 hours, with its market cap now at $778 million, although its price remains up nearly 20% over the past seven days. This sharp pullback comes after a strong rally between February 18 and February 20, when BERA reached levels above $8.5.

BERA’s Relative Strength Index (RSI) has dropped from overbought levels, signaling a loss of bullish momentum, while its Directional Movement Index (DMI) shows growing bearish pressure. As BERA navigates this correction phase, it faces key support at $6.1, with potential resistance levels at $8.5, $9.1, and $10 if bullish momentum returns.

BERA RSI Is Dropping Steadily After Touching Overbought Levels

Berachain Relative Strength Index (RSI) is currently at 50.6, down sharply from 86.7 just two days ago when its price surged above $8.5. RSI is a momentum oscillator that measures the speed and change of price movements, ranging from 0 to 100.

It is commonly used to identify overbought or oversold conditions, with values above 70 indicating overbought levels and below 30 suggesting oversold territory.

The steep decline in BERA’s RSI reflects a significant loss of bullish momentum after reaching overbought levels above 86, where a correction was likely.

BERA RSI.
BERA RSI. Source: TradingView.

With RSI now at 50.6, BERA is in a neutral zone, suggesting that buying and selling pressures are relatively balanced.

This could indicate a period of consolidation as the market digests recent gains. If RSI continues to decline below 50, it could signal increasing bearish momentum. This could lead to a further price drop for BERA.

Conversely, if RSI stabilizes and begins to rise, it could suggest renewed buying interest and a potential recovery in Berachain price.

BERA DMI Chart Shows Buyers Are Losing Control

Berachain Directional Movement Index (DMI) chart shows its Average Directional Index (ADX) currently at 50.5, after peaking at 60.2 yesterday, up from just 13.3 five days ago. ADX is an indicator used to measure the strength of a trend, regardless of its direction, ranging from 0 to 100.

Values above 25 typically indicate a strong trend, while values below 20 suggest a weak or sideways market. The sharp rise in ADX reflects a significant increase in trend strength, confirming that BERA has been experiencing strong directional movement recently.

BERA DMI.
BERA CMF. Source: TradingView.

Meanwhile, BERA’s +DI is at 24.4, down from 48.4 two days ago, indicating weakening bullish momentum. Meanwhile, -DI has risen to 15.1 from 4.9, suggesting growing bearish pressure.

This shift signals that the bullish trend that drove prices higher is losing steam, and selling interest is beginning to increase.

If -DI continues to rise above +DI, it could indicate a bearish crossover, signaling a potential reversal or deeper correction in BERA’s price. However, if +DI stabilizes and moves upward again, it could suggest a continuation of the uptrend, albeit with reduced momentum.

Will Berachain Fall Below $6 Soon?

Berachain surged 53% between February 18 and February 20, pushing its price above $8.5 after the coin struggled following its airdrop. However, after this sharp rally, BERA entered a correction phase and is currently down almost 15% in the last 24 hours.

This pullback suggests profit-taking and a shift in market sentiment as buyers hesitate to push prices higher. If the downtrend continues, BERA could soon test the support at $6.1, and a break below this level could lead to a further decline towards $5.48, reflecting increased selling pressure.

BERA Price Analysis.
BERA Price Analysis. Source: TradingView.

On the other hand, if Berachain can regain its bullish momentum from a few days ago, it could rise above $8.5 again, potentially testing the next resistance levels at $9.1 or even $10.

To confirm this bullish scenario, Berachain would need to see renewed buying interest and strong upward momentum. If buyers can defend key support levels and push the price above resistance zones, it could indicate the continuation of the uptrend.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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