Unchained The Chopping Block: Venezuela Sanctions Drama + Polymarket Insider Trading + Zcash Foundation Exodus
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Jan 14, 2026 This discussion dives into the scandal surrounding Venezuela's crypto ties, exploring how the fintech Kontigo allegedly used stablecoins for sanctions evasion. The hosts weigh the morality of financial support against U.S. sanctions and debate insider trading issues sparked by a $400k bet on Maduro's capture. They also unravel the governance chaos within Zcash, highlighting mass resignations and the split between nonprofit foundations and for-profit ventures. The conversations reflect on the essential need for innovative wallet solutions in the crypto space.
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Stablecoins Unlock Dollar Access
- Stablecoins extend dollar access in embargoed countries and enable real financial freedom for citizens.
- The Contigo case shows that the same rails that help the unbanked can also be exploited to skirt sanctions.
Contigo's Rapid Rise And Allegations
- Contigo, a YC-backed Venezuelan remittance app, allegedly used JP Morgan smart accounts and a state bank to arbitrage exchange controls.
- The company denies allegations but the timing of a hack and Maduro's capture raised suspicions.
KYC Is Stuck In The Pre-Internet Era
- Traditional KYC and banking rules are point-in-time relics from a pre-internet era and often fail for evolving fintechs.
- Continuous, live verification is needed but rarely implemented, creating systemic gaps.