Internet reports that as Venezuela's annual inflation rate has soared to 229%, stablecoins such as USDT have become the "de facto" currencies of millions of Venezuelans in the financial system. It is said that locals call Bitcoin the "Binance U.S. dollar", while the country's currency, Bolívar, has basically disappeared in daily business activities. Hyperinflation, strict capital controls and a differentiated exchange rate pattern have made people increasingly inclined to use stablecoins rather than cash or local bank transfers. From small grocery stores to mid-sized businesses, USDT has replaced statutory cash as the preferred settlement method in local areas.