Market
Latam Crypto News: Mexico Investigates Worldcoin

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

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 Conditions, Privacy Policy, and Disclaimers have been updated.
Market
How Did UPCX Lose $70 Million in a UPC Hack?

UPCX suffered a major hack today, with 18.4 million UPC tokens stolen from its management accounts. This amounts to about $70 million dollars, and the price of UPC fell drastically.
The hackers stole more UPC than is currently circulating in the markets and haven’t offloaded any assets yet. It is unclear who did this or how they will be able to secure their gains in other assets.
UPCX Suffers Major Hack
Cyvers, a crypto security firm that has tracked and uncovered several major crimes, identified a serious hack this morning. Multiple suspicious transactions took place involving UPCX’s management account, and the firm acknowledged suspicious activity. UPCX didn’t go into great detail, only describing a few security measures, but Cyvers showed the extent of the hack:
“It appears that someone gained access to the address 0x4C….3583E, upgraded the ‘ProxyAdmin’ contract, and executed the ‘withdrawByAdmin’ function, resulting in the transfer of 18.4 million UPC (approximately $70 million) from three different management accounts,” Cyvers claimed via social media.
UPCX is an open-source crypto payment system, and this hack may represent a serious blow to the company. According to CoinGecko data, the hackers stole significantly more UPC tokens than are currently available, which is around 4 million. Naturally, this caused the price to drop significantly, in an immediate drop of over 4%:

Although a $70 million hack will certainly damage UPCX individually, it’s unclear if it will actually impact the broader market much. The largest hack in crypto history took place a little over a month ago, and the community is still assessing the fallout. Meanwhile, UPCX is comparatively tiny; less than 10,000 X users viewed its post admitting to the security breach.
Since the UPCX hack took place, the recipient account hasn’t moved any of its UPC tokens. Indeed, it may be difficult for the perpetrator to convert these assets into usable fiat in the first place. If the hackers stole nearly 5x the amount of UPC tokens in circulation, any attempt to liquidate them will crash UPC’s token price even further.
Ultimately, the UPCX hack is strange for several reasons. Despite a large dollar amount, it hasn’t attracted a huge amount of buzz or impacted the market outside UPC. Hopefully, further analysis will identify the perpetrators, and possibly freeze the assets. Otherwise, the threat of a future sale could hamper UPC’s recover for the foreseeable future.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Ethereum Struggles to Break Out as Bear Trend Fades

Ethereum (ETH) enters the week with mixed signals as traders brace for tomorrow’s “Liberation Day” tariff announcement, a potential macro catalyst that could impact risk assets. While the BBTrend indicator remains deeply negative, it’s beginning to ease, hinting at a possible slowdown in bearish momentum.
On-chain data shows a slight uptick in whale accumulation, suggesting cautious optimism from large holders. Meanwhile, Ethereum’s EMA setup shows early signs of a trend reversal, but the price still needs to break key resistance levels to confirm a shift in direction.
ETH BBTrend Is Easing, But Still Very Negative
Ethereum’s BBTrend indicator is currently reading -11.66, slightly improved from -12.54 the day before, but still in negative territory for the second consecutive day.
The Bollinger Band Trend (BBTrend) measures the strength and direction of a trend based on how price interacts with the upper and lower Bollinger Bands.
A positive BBTrend suggests bullish momentum, with the price expanding toward the upper band, while a negative BBTrend indicates bearish momentum, with the price leaning toward the lower band. Typically, a value beyond 10 is considered a strong trend signal, making the current -11.66 reading a sign of continued downside pressure.

The persistent negative BBTrend suggests that Ethereum remains in a short-term bearish phase, with sellers still dominating the price action.
While yesterday’s slight uptick hints at a potential slowing of downward momentum, the indicator remains well below the neutral zone, meaning any reversal is still unconfirmed, despite Ethereum flipping Solana in DEX trading volume for the first time in 6 months.
Traders may interpret this as a warning to stay cautious, especially if ETH continues hugging the lower Bollinger Band. For now, price action remains fragile, and any bounce will need to be supported by a decisive shift in volume and sentiment to signal a meaningful reversal.
Ethereum Whales Are Accumulating Again
The number of Ethereum whales—wallets holding between 1,000 and 10,000 ETH—has ticked up slightly, rising from 5,322 to 5,330 in the past 24 hours.
While this is a modest increase, whale activity remains one of the most closely watched on-chain metrics, as these large holders often influence market direction. Whales’ accumulation can signal growing confidence in Ethereum’s medium—to long-term prospects, especially during periods of price uncertainty or consolidation.
Conversely, a decline in whale addresses typically suggests weakening conviction or profit-taking.

Although the recent uptick is a positive sign, it’s important to note that the current number of Ethereum whales is still below the levels observed in prior weeks.
This means that while some large holders may be re-entering the market, the broader whale cohort has yet to fully commit to an accumulation phase.
If the upward trend in whale numbers continues, it could support a bullish shift in sentiment and price. However, for now, the data points to cautious optimism rather than a decisive reversal.
Will Ethereum Break Above $2,100 Soon?
Ethereum’s EMA lines are showing early signs of a potential trend reversal, with price action attempting to break above key short-term averages.
If Ethereum price can push through the resistance at $1,938, it may signal the start of a broader recovery, potentially targeting the next resistance levels at $2,104, and if momentum builds—especially with supportive macro catalysts—increasing toward $2,320 and even $2,546.

On the flip side, if Ethereum fails to maintain its upward push and bearish momentum resumes, the focus will shift back to downside levels.
The first key support sits at $1,823; a break below that could expose Ethereum to further losses toward $1,759.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Binance Megadrop Launches KernelDAO

Binance Megadrop has announced its fourth project – KernelDAO (KERNEL), a restaking protocol supporting three key tokens Kernel, Kelp, and Gain.
Introduced in 2024, Binance Megadrop is a token launch platform that provides users with early access to promising crypto projects before their official listing.
KernelDAO and Binance Megadrop: Overview
KernelDAO is a restaking protocol that allows users to repurpose staked assets (such as ETH or BNB) to participate in other protocols, maximizing yield. The protocol launched its mainnet in December 2024.
The KernelDAO Megadrop event kicks off on April 1, 2025, and lasts for 20 days, rewarding participants with KERNEL tokens. Kelp, a KernelDAO component, manages over $1.15 billion in Total Value Locked (TVL) across 10 blockchains, including Ethereum and BNB Chain.

KernelDAO has a maximum supply of 10 billion KERNEL tokens. Binance has allocated 40 million KERNEL (4% of the total supply) for participants. Upon listing on Binance, the initial circulating supply will be 162,317,496 KERNEL (16.23% of the total supply).
After the Megadrop event, KERNEL will be listed on Binance Spot with trading pairs such as KERNEL/BTC, KERNEL/USDT, and KERNEL/BNB.
KernelDAO is the fourth project on Binance Megadrop, following Lista (LISTA) and Xai (XAI). Previously, Binance Labs invested in Kernel to build recovery infrastructure on the BNB Chain.
Binance’s inclusion of KernelDAO could contribute to the growth of the restaking sector. According to DeFiLlama, the total TVL of restaking protocols surpassed $15 billion in early 2025, with EigenLayer and Kelp leading the market.
With 40 million KERNEL tokens distributed through Megadrop, many participants may sell immediately after receiving their tokens, potentially creating downward price pressure. Additionally, increasing competition from protocols like EigenLayer could pose challenges for KernelDAO.
Additionally, not all projects listed on Binance have performed impressively. In 2024, Binance-listed tokens all fell, with 29 out of 30 tokens posting significant losses.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
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