Aave founder discusses the Paraguay banking crisis, Bitcoin is more important than ever before

The founder of the decentralized lending protocol Aave, Stani Kulechov, stated that Bitcoin is now more important than ever, and one can see this by looking at Paraguay today.

According to a report by Reuters, after the Paraguayan digital bank Ueno was taken over by the central bank, a large number of depositors were unable to withdraw their deposits, leading to public protests demanding the return of funds, expedited compensation, and accountability. The affected group includes retirees who receive pensions through the bank.