Moquete

United States has withdrawn its LNG, while Australia and Canada are increasing their gas exports to Europe and America

The global LNG market is experiencing significant changes due to extreme weather conditions, supply disruptions, and the redistribution of fuel flows. According to vessel tracking data, at least three large LNG shipments loaded in Australia and Canada have deviated from their initially planned routes to Asia and are now heading to Europe and America. This is an unusual fact in the global LNG market and reflects deep changes in energy logistics.

The LNG carrier Julia Louise, from the Australian LNG project Gorgon, crossed the Indian Ocean after loading on January 23 and is now heading to the French port of Dunkirk, with an expected arrival date of February 19. This is the first major journey of Australian LNG to Europe since February 2025. A second ship, the Maran Gas Hector, also departing from Australia, has changed course towards America, while the Canadian Qingcheng, which was originally heading to East Asia, changed course on January 26 and is possibly now navigating through the Panama Canal towards Europe or North America.

The deviation in supply is due to the consequences of a powerful arctic storm that hit the United States, affecting Texas, the Midwest, and northeastern states. This weather system not only caused a sharp drop in natural gas production due to frozen wells and operational disruptions but also severely disrupted operations at LNG export terminals on the Gulf Coast. Due to the shortage of natural gas at the entrance to liquefaction facilities and the decrease in production, the total LNG export capacity from the United States has decreased.

🥈 SILVER BREAKS RECORDS! The price skyrockets to $120 and puts the solar panel and electric vehicle industry in check.

At the beginning of 2026, silver has reached a historic high of 120 dollars per troy ounce, multiplying its value by 1.6 in record time. This surge is due to a structural deficit accumulated over years, where mining supply fails to meet a demand spurred by the energy and technological transition. Key sectors such as 5G infrastructure, data centers, and electric vehicles today consume more than half of global production, creating pressure on the market that investors have taken advantage of to drive prices to levels never seen before.

Despite the high cost, the impact is uneven across industries. While in complex electronics the increase is easily passed on to consumers, jewelry and solar energy face a profitability crisis. In the manufacturing of photovoltaic panels, silver represents up to 25% of the total cost, making this sector extremely vulnerable. This has forced large tech companies to accelerate the search for substitute materials or cells with lower silver content to avoid hindering the deployment of renewable energies.

In summary, although global silver production is limited as it is mostly a byproduct of other mines, the metal has become a critical strategic asset. Analysts foresee that as long as the deficit of hundreds of millions of ounces persists, the price will remain high, forcing a technological reconfiguration. The retail market for affordable jewelry will be the first to feel the drop in demand, while the high-tech industry will have to choose between absorbing costs or innovating to reduce its dependence on this "white gold". $BNB

American traders are increasingly betting on a record drop in the dollar

According to US media, dollar traders are betting on a record rise due to a greater fall in the exchange rate of the US dollar.

According to Bloomberg, amid political instability in the United States, bets on a greater weakening of the US currency have reached their highest level since 2011. Among other factors, the drop in the dollar is due to growing concerns about the increasing US budget deficit, the breakdown of some trade ties, and the diversification of other countries' assets in favor of gold and other reserve currencies.

If the dollar continues to decline, it may reach its lowest level in four years in the near future. Financial analysts point out that these factors are affecting the cost of hedging: just last week, dollar volatility reached its highest level since early September.

Thus, the dollar is steadily losing its safe-haven status: only in the last year, it has fallen more than 10% against other key global currencies. Numerous sanctions and active trade wars are causing capital flight, while the growing US government debt is driving away potential investors. Meanwhile, Trump continues to claim that he can manipulate the dollar, forcing it to rise or fall. The US president stubbornly refuses to acknowledge the risk of a dollar collapse.

$BTC

🚀 GOLD IN THE CLOUDS! Surpassing $5,100 for the first time as Trump's policy unleashes chaos in the markets.

Gold has broken all historical records by surpassing the barrier of $5,100 per ounce on January 27. This unstoppable rally is driven by Donald Trump's "maximum pressure strategy," who has set off global alarms after threatening 25% tariffs on key partners like Canada and South Korea. Investors, fearful of a large-scale trade war and political instability in Washington, are abandoning the dollar and massively seeking refuge in precious metals to protect their capital.

Silver is not far behind, remaining close to historical highs with a 53% increase so far this year, standing above $108 per ounce. The market is favored by a weakened dollar following interventions to stabilize the yen and the growing risk of a U.S. government shutdown. Additionally, the price bonanza has unleashed a wave of multimillion-dollar acquisitions, such as the purchase of Canadian Allied Gold by Chinese giant Zijin Gold for $4 billion, consolidating Asian control over the mining sector.

Tension now shifts to the Federal Reserve, which begins meetings this Tuesday in a climate of unprecedented hostility. The Trump administration is conducting a criminal investigation against Fed Chairman Jerome Powell and is pressuring to purge its executives, creating an institutional uncertainty that only benefits gold. With Powell's successor nomination on the horizon and economic volatility as the norm, analysts agree that the golden metal will continue to be the undisputed king against an increasingly unpredictable U.S. dollar.$BTC

Strengthening cooperation in oil and gas: India and Canada expand their trade

Representatives from Canada and India have initiated an energy dialogue and announced plans to expand mutual trade in gas and oil. Bloomberg reports on the intention of both parties to cooperate.

According to sources, Ottawa has agreed to increase the supply of oil, LNG, and liquefied petroleum gas (LPG) to India, while New Delhi is willing to expand exports of petroleum products to Canada. This mutual commitment is expected to be formally announced following a meeting between Canadian Energy Minister Tim Hodgson and Indian Minister of Petroleum and Natural Gas Hardeep Singh Puri at the India Energy Week international energy conference held in Goa.

Experts interpret this move as a signal of both countries' attempt to strengthen their strategic alliance in energy matters after several years of diplomatic cooling. Between 2024 and 2025, relations between Ottawa and New Delhi were tense, partly due to diplomatic disputes over incidents related to the diaspora and geopolitical differences. This delayed the development of trade initiatives.

Canadian government officials emphasize that the decision to increase exports to India is part of a broader strategy to diversify export markets. Relations with their main trading partner, the United States, remain under pressure due to trade tensions and the threat of new tariffs on Canadian products.

The Indian oil market has shown steady growth in energy demand in recent years. According to official data, the country is one of the largest oil importers in the world, and a significant portion of its imports comes from the Middle East and Russia. However, geopolitical pressure has prompted New Delhi to expand its energy alliances with various suppliers, including Canada.
$XRP

🌍 Independence or Illusion? Europe bets on wind in the North Sea while US gas breaks records.

At the North Sea Summit 2026, leaders from ten European nations signed the "Hamburg Declaration," an ambitious plan to install 100 GW of offshore wind energy. This project aims to bolster the region's energy security and reduce vulnerability to external actors by creating a network of cross-border parks and high-voltage submarine cables. However, this quest for autonomy clashes with a crushing economic reality: dependence on US LNG will reach a historic record of 185,000 million cubic meters this year, highlighting that the transition away from Russian pipelines has left the EU tied to supplies from Texas.

Political tension has intensified following criticisms from Donald Trump, who called the countries prioritizing wind energy over fossil fuels "losers." While Brussels tries to sell the idea of a green and sovereign Europe, negotiations with Washington to regulate gas prices and volumes are stalled. The White House shows little interest in long-term agreements, keeping European allies in a position of uncertainty and subject to the volatility of a market that the US dominates with an iron fist.

In short, the EU's strategy navigates contradictions: on one hand, it projects to reach 300 GW of wind energy by 2050 as a way out, but on the other hand, the flow of US LNG carriers continues to grow. This "double-edged" energy reality reveals that despite efforts to build its own renewable infrastructure, Europe remains strategically dependent on the political will of Washington to keep its industry and homes powered in the short and medium term. $SOL

The price of gold has surpassed five thousand dollars for the first time in history

The price of gold exceeded $5,000 per troy ounce for the first time in history, according to trade data.

At 02:13 Moscow time, the price of gold futures for February on the New York Comex rose approximately $40 compared to the previous close, or 0.8 percent, to $5,025 per troy ounce.

Silver is also rising in price and for the first time in history exceeds $104 per ounce.

Traders are closely monitoring U.S. actions regarding Greenland. On Wednesday, at the Davos Forum, Donald Trump clarified that a long-term agreement on Greenland is being negotiated, describing its duration as "eternal."

The president also noted that, following his meeting with NATO Secretary General Mark Rutte, the groundwork had been laid for a future agreement on the island.

Markets are also assessing threats to the independence of the Fed. The mandate of Fed Chairman Jerome Powell ends in May. Trump requested his resignation due to the slow pace of interest rate cuts but has not fired Powell amid potential criticism over the institution's lack of independence.

The U.S. president promised to announce a candidate for the position in the near future, hinting at the head of the White House Council of Economic Advisers, Kevin Hassett.$BTC

Vanar is an innovative layer 1 (L1) blockchain designed to bring Web3 to mass use by integrating artificial intelligence capabilities directly into its protocol. Unlike many chains that only add AI as a supplement, Vanar allows applications to learn, adapt, and improve over time, providing an infrastructure where smart contracts can operate with native logic and memory.

Its native token, $VANRY, drives transactions, staking, and network security, and serves as fuel for critical functions within the Vanar ecosystem. With a focus on low fees, high speed, and scalability, this network is oriented towards use cases such as Web3 gaming, decentralized finance, real-world assets (RWA), and PayFi solutions.

The project has achieved significant listings on exchanges like Kraken and is present on popular trading platforms, expanding its global access. However, as with any emerging crypto asset, it is important to research and understand the risks before participating.#vanar @Vanarchain #Vanar

26.470.900.000 SHIB turns positive as key metrics indicate a resurgence

The leading meme asset, Shiba Inu, seems to be attempting a price breakout amid prolonged volatility as exchange flows begin to indicate increasing demand.

After several days of remaining positive, the exchange flow metric for Shiba Inu turned red over the last day, showing a slight decrease of around 1% over the last day.

With this decrease in the metric, it appears that the amount of tokens sent to exchanges for selling purposes over the last day is lower than the amounts of Shiba Inu tokens bought on exchanges by a substantial amount.

According to data from the cryptocurrency analysis platform CryptoQuant, the net flow of Shiba Inu across all compatible cryptocurrency exchanges stands at -31.737.600.000 as of January 25.

The bullish exchange flow has occurred at a time when the market is experiencing a persistent bloodbath and cryptocurrency assets, including meme tokens like SHIB, have continued to decline.

Although Shiba Inu is still trading in deep red territory, down 1.45% over the last day, the decrease in net exchange flow suggests an increase in demand and the price correction may be nearing its end.

As such, it seems that momentum may be returning to the Shiba Inu ecosystem, and the price of Shiba Inu could be on track for a short-term recovery.

In particular, the metric has sparked hopes that the asset may be gearing up for a greater rebound as selling pressure continues to diminish amid the growing appetite for the leading meme asset.

$SHIB

Investing in rare earth metals: The United States is investing $1.6 billion in the industry

The Trump administration is preparing to announce the largest financial involvement of the federal government in a private rare earth mining company in recent years. According to the Financial Times, the government intends to invest $1.6 billion in USA Rare Earth, receiving approximately 10% of its shares and securing a stake in the future production of critical materials. An official announcement regarding this package and related private transactions is expected on January 26.

Under the terms of the agreement, the U.S. government will receive 16.1 million shares of USA Rare Earth and warrants for an additional 17.6 million shares at a price of $17.17 per share. Additionally, the company will receive approximately $1.3 billion in senior secured debt at market prices, providing significant funding for its ongoing projects.

The package also includes independent private funding of approximately $1 billion, making the total investment in the company a record for this segment in the United States.

USA Rare Earth, founded in 2019 and based in Oklahoma, specializes in the extraction and processing of rare earths, as well as the production of permanent magnets based on them. These materials form the basis of modern technologies, from electric vehicles and wind turbines to complex defense systems and microelectronics. The company is developing the Round Top mine in Texas and building magnet manufacturing plants in Oklahoma; it plans to start commercial production in the first half of 2026.$BTC

Bitcoin shorts fall by 82%, hedge funds reduce exposure: rebound or more caution?

Leveraged hedge funds have reduced their short exposure to Bitcoin [BTC] in CME futures from $444 million recorded in August to $78 million by mid-January, an 82% decrease that can be bullish or bearish depending on other factors.

According to the attached chart, such a decrease in short exposure by leveraged funds coincided with the local price low and, to some extent, can be interpreted as bullish for BTC.

However, the movements of leveraged funds are always zero-sum for Bitcoin, as they buy U.S. spot ETFs and sell CME futures to pocket the price difference, commonly known as basis trade or yield.

This lucrative yield has fallen significantly from nearly 10% to 5% in recent months as the price of BTC dropped over 30%, making it less attractive.

According to some analysts, these funds will not only reduce their exposure to short positions when the yield becomes less attractive but will also abandon spot BTC ETFs. This could likely drive capital outflow from the ETFs.

In fact, throughout this week, ETFs recorded a cumulative outflow of $1.33 billion. This reversed the strong demand observed in early January, which pushed the price of BTC to $98,000.

But the average 30-day ETF flow turned negative again, further underscoring the weak overall institutional demand for BTC.

In other words, leveraged funds reducing their short positions is not enough to push BTC up unless strong inflows of spot ETFs resume again.

That said, investor risk aversion this week was justified due to geopolitical escalations and the Japanese bond crisis.
$BTC

XRP has entered a decisive phase where price compression often precedes expansion.

After a strong rejection from recent highs, volatility has decreased, and the market is now operating in a narrow range that reflects hesitation rather than stability. These periods rarely persist for long, especially after strong directional movements, making the current structure one of the most important setups of the last few weeks.

This technical situation gained relevance after an analysis shared by Xaif on X, which examined the 4-hour chart of XRP and highlighted an increase in volatility. The post was published while XRP struggled to regain lost ground, focusing traders' attention on key technical levels that could determine the next significant move.

XRP sharply retraced from the $2.00 zone and then entered a tight sideways trend. The price is currently oscillating between approximately $1.92 and $1.96, indicating a pause where buyers and sellers continue to test their determination. This behavior often reflects indecision but also indicates that the market is preparing for a resolution rather than a continued drift.

According to data from CoinMarketCap, XRP is currently trading near $1.91 at the close of the report, recording a modest gain of 0.41% in the last 24 hours. Despite this uptick, the price has not surpassed the consolidation range, keeping volatility contained.

Xaif's analysis focuses on the compression of XRP directly around the Ichimoku Tenkan-Sen and Kijun-Sen lines on the 4-hour timeframe. These levels often act as short-term equilibrium zones where momentum is restored. When the price clusters tightly around both lines after a strong movement, it usually indicates stored energy rather than exhaustion. $XRP

Shiba Inu sees the outflow of 100 billion tokens from exchanges in 24 hours, while the price remains bearish.

Shiba Inu exhibits a notable disparity between its price performance and on-chain metrics. The token is trading near local lows, while experiencing significant capital outflows from exchanges.

Almost 100 billion SHIB tokens have left trading platforms in a 24-hour period. This movement represents one of the largest withdrawals recorded in recent months.

Exchange reserve data confirms the trend. Tokens are moving to private wallets instead of accumulating on trading platforms. The outflow pattern often indicates reduced selling pressure. Market participants prefer self-custody rather than keeping liquidity on exchanges.

The timing of these withdrawals is important. Large-scale withdrawals at depressed prices often precede stabilization periods. Historical patterns suggest that this behavior reflects accumulation rather than distribution. Holders show a willingness to lock positions instead of keeping inventory ready for sale.

Price action tells a different story. SHIB continues to trade below all major moving averages. The chart structure maintains a bearish setup. No confirmed reversal signals have been detected. At the time of writing this article, SHIB is trading around $0.000007742, suggesting a 2.5% increase in the last 24 hours.

$SHIB

Bitcoin's open interest falls by 50% amid year-end trading slowdown

Bitcoin's open interest (BTC), at $86,621.37, has decreased by nearly 50% by the end of 2025, dropping from over $70 billion to around $35-40 billion, as institutions close leveraged positions amid year-end caution.

This slowdown in activity and trading volumes indicates a defensive market stance, with prices stable in a narrow range near $86,400.

The decline in Bitcoin's open interest in 2025 is primarily due to the reduction of leveraged positions by institutional investors as the year comes to a close.

Data from Alphractal indicates a significant drop of nearly 50%, with over $30 billion in positions closed on major trading platforms.

This reflects a common year-end strategy where market participants reduce the risk of their portfolios, resulting in quieter trading in futures, spot markets, and ETFs, while prices remain relatively stable in a narrow range.

The drop in Bitcoin's (BTC) open interest of $86,621.37 has coincided with a noticeable slowdown in trading volumes, affecting both centralized exchanges and ETFs.

On centralized platforms, overall participation has softened, even as Binance maintains dominance with daily volumes exceeding $50 billion. ETF trading has also trended downward, reaching around $39 billion in recent sessions.

This reduction follows a pattern observed in previous years, where holiday periods lead to lower activity. $BTC

Solana absorbs a record DDoS attack of 6 Tbps and maintains its operations at full capacity

Solana suffered a multi-day DDoS flood that peaked at 6 Tbps on December 15, according to data from Pipe Network and SolanaFloor.

The attack flooded the RPC endpoints without causing delays in blocks, slot jumps, or failed transactions across the chain.

Validators maintained normal voting rates while processing regular volumes of over 100 million daily transactions.

Network improvements, such as QUIC transport and participation-weighted quality of service, managed the sudden spike.

This marks a shift from the disruptions of 2022, when smaller DDoS waves halted operations for hours.

The recent hardening, which includes firewall rules and endpoint limits, blocked traffic before it exceeded consensus.

The document highlights that Solana's impeccable management of a record DDoS attack of 6 Tbps reinforces its suitability for enterprise use.

This is supported by ecosystem achievements, such as tokenized shares of Kraken through Backed Finance and the collaboration between Taurus and Everstake for custody staking.

Moreover, institutional confidence is evident, as Forward Industries has appointed Ryan Navi as CIO to build Solana's treasuries.
The active Base-Solana bridge significantly enhances cross-chain capabilities, thanks to the collaboration with Coinbase and Chainlink CCIP.

This bridge enables the secure and smooth transfer of assets like SOL between the Base and Solana networks, unifying liquidity. This allows developers to integrate native Solana assets into Base applications, simplifying cross-chain transfer and driving adoption in DeFi, gaming, and NFT. $SOL

Taiwan prepares legislation on stablecoins for 2026, with exclusive issuance for banks.

The financial authorities of Taiwan are pushing plans to integrate stablecoins into the national banking system.

A central debate has emerged over whether these digital tokens should be pegged to the new Taiwanese dollar or the US dollar.

The issue took center stage at a forum organized by the Taiwan External Trade Development Council on December 15.

Regulators and industry executives examined how digital currencies could reduce transaction costs for companies engaged in international trade.

International payment fees currently pose a burden for Taiwanese exporters, with costs reaching 5% per transaction.

These charges accumulate through outgoing transfer fees, incoming transfer fees, and intermediary bank fees.

A stablecoin pegged to the US dollar could streamline cross-border settlements while simultaneously avoiding regulatory restrictions on the circulation of NTD abroad.

A token linked to NTD would integrate better with Taiwan's national payment infrastructure.

Alex Liu, CEO of MaiCoin and a board member of the Taiwan Virtual Assets Service Providers Association, argued that a local stablecoin could drive Taiwan's economic expansion.

Payment providers are closely monitoring the development of stablecoins, as these instruments promise significant fee reductions in markets that mimic traditional currency trading.

Liu emphasized that an NTD stablecoin would have functional, not speculative, purposes. The tool would primarily address efficiency improvements and risk management issues. $USDT

The price of Dogecoin fell during the day and remained below the Supertrend line, while the trading volume data for tokens showed a weaker recent participation.

In the last 24 hours, DOGE fell approximately 5.9%, down to $0.1289, moving within a daily range of between $0.1274 and $0.1374.

The wide swing shows that the market tried to rise at first, but the movement did not hold and the price spent more time moving towards the lower end of the range.

Despite the pullback, participation remains strong. DOGE is close to a market capitalization of $19.620 billion, with a volume of approximately $1.300 billion in 24 hours, an increase of 36.39%, suggesting that it was not a low liquidity move.

These are the levels that DOGE needs to recover before buyers can claim that the worst is over.

Dogecoin remains in a bearish trend on a daily setup, with the price below the supertrend line. The value of the supertrend is near $0.15223, indicating that bearish control remains intact and that bulls are experiencing pullbacks unless the price manages to recover that level and stay above it.

The momentum indicators are also leaning downwards. Specifically, the MACD crossover indicator is below the zero line, and the MACD line (approximately -0.00422) is below the signal line (approximately -0.00312).

This alignment usually reflects negative momentum, even if the lines start to flatten out, suggesting that selling pressure could be decreasing, but not yet reversing.

At key levels, support is immediate near the recent low of $0.1271, with the next bearish zone around $0.1034 if that low is broken. $DOGE

BitMine adds $321 million in Ethereum to its corporate treasury

BitMine Immersion Technologies acquired 102,259 Ethereum for an approximate value of $321.1 million last week, as the company continues to accumulate assets to reach its goal of owning 5% of the total supply of the asset.

The company, which is listed on the New York Stock Exchange (NYSE), revealed on Monday that its holdings amount to 3,967,210 Ethereum, purchased at an average price of $3,074 per token.

The digital asset treasury is valued at nearly $12.5 billion at current prices. BitMine's stock represents approximately 3.2% of all circulating Ether, making it the largest holder of corporate treasury Ethereum in the world, according to the company's announcement.

The firm also owns 193 Bitcoin, $1 billion in cash, and a strategic stake of $38 million in Eightco Holdings. The combined holdings of cryptocurrencies, cash, and investments total approximately $13.3 billion as of Monday, positioning BitMine as the second-largest corporate treasury of cryptocurrencies, after Strategy.

The latest purchase comes after two consecutive weeks of accelerated accumulation following a quieter November. BitMine attributed the slowdown in November to market volatility related to the price drop in October, when Ethereum experienced significant downward pressure.

BitMine's president, Tom Lee, stated that the company continues to see structural impulses for Ethereum. Lee cited regulatory and legislative changes in Washington, along with increased institutional participation, as factors reinforcing the conviction in the accumulation strategy.

According to Lee, cryptocurrency prices have stabilized over the past week, further demonstrating that recovery is underway. $ETH

PayPal launches PYUSD Savings Vault on Spark amid an effort to increase stablecoin deposits to one billion dollars

PayPal is launching the PYUSD -0.02%
Savings Vault on the decentralized lending platform Spark, presenting a new way for stablecoin users to earn yield on their holdings.

The Spark website announces an APY of 4.25% for the vault, equivalent to the expected yields in other stablecoin vaults for the larger centralized stablecoins USDC and USDT, as well as Spark's native token USDS, which is issued by the parent organization, CIELO -4.64%
(previously MakerDAO).

The yield of the PYUSD Savings Vault is anchored to the Sky Savings Rate, which is funded by the revenues of the Sky Protocol, according to Spark's documentation.

Sky generates revenue from stability fees from over-collateralized loans, investments in real assets, and by providing liquidity in its first and largest subDAO, Spark.

Spark, launched in 2024, is a DeFi lending and liquidity protocol that offers a variety of stablecoin savings vaults that generate yield and the decentralized money market SparkLend, a fork of Aave v3 that allows users to obtain over-collateralized stablecoin loans by depositing cryptocurrencies.
PYUSD was integrated into SparkLend in September, allowing users to lend and borrow the stablecoin.

PayPal and Spark then announced their intention to increase deposits to $1 billion, after seeing approximately one-fifth of that amount deposited in the first 24 hours.

Currently, there is nearly $150 million in supplied PYUSD, with a gain of approximately 2.11%, and around $67 million lent, according to Spark's figures.
$USDC

The central bank of Argentina is reviewing the rules to allow local banks to offer trading and custody of Bitcoin, moving cryptocurrency activity to supervised channels.

The Central Bank of Argentina is reviewing a proposal that would allow commercial banks to offer Bitcoin services for the first time since the 2022 ban.

Authorities are studying a regulatory package that would allow banks to integrate cryptocurrency trading and custody into standard accounts. The measure signals a shift towards overseeing digital asset activity after years of growth on unregulated platforms.

The draft framework arises from internal debates in the government's digital assets working group. Although the text is not definitive, regulators have confirmed that the plan remains in effect.

They are evaluating risk controls, information standards, and the assets that banks could back. The list will likely include Bitcoin, major cryptocurrencies, and dollar-pegged stablecoins.

Argentine banks have shown interest in rejoining the sector. Before the 2022 restriction, several institutions tested cryptocurrency trading tools in their applications. As the review continues, banks are preparing their internal systems to act quickly if the central bank authorizes the change.

Argentina's renewed interest in access to Bitcoin comes after long periods of high inflation and strict currency controls. These conditions drove many residents towards digital assets, often using offshore exchange platforms or informal channels.

$BTC