Banking Crisis in Paraguay: 3 Million Customers Locked Out, President Peña Offers to Resign, What Crypto Can Do

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Paraguay's central bank has shut Ueno Bank, three million customers are locked out and President Peña has handed in his resignation. Plus: what the viral list of bank hacks in 15 countries gets right, why Thursday was no record on Wall Street and how crypto protects you.Illustrative image, AI-generatedAdd as a preferred source on GoogleFollow on Google NewsParaguay's central bank put Ueno Bank into resolution on 2 November. Since then, around three million customers have been locked out of their accounts in a country of 6.5 million people. On Thursday, 5 November, President Santiago Peña handed in his resignation, which has not been accepted so far. On the currency market, the guaraní has lost 7.6 percent of its value against the dollar since the intervention. The banking crisis in Paraguay lands in a week full of alarming headlines: a list of bank hacks in 15 countries is going viral on X, AI stocks crashed on Wall Street, and Bitcoin fell with them. Here is what holds up and w...