Brazil Crypto Report: Bolsonaro X account hacked by memecoin promoters

Greetings from Zurich, Switzerland and welcome to Brazil Crypto Report for the week of January 20-24, 2025!

Greetings from Zurich, Switzerland and welcome to Brazil Crypto Report for the week of January 20-24, 2025!

I’m wrapping up an intense week in Davos, Switzerland for the World Economic Forum. It was a really important week for crypto on the world stage — not just because the president of the United States launched a memecoin, but because the industry and asset class has reached a point of legitimacy that makes it impossible for world leaders to ignore.

My friend and roommate for the week Gareth Jenkinson of CoinTelegraph even asked the president of South Africa if he plans on launching a memecoin of his own 😂

I had the opportunity to host a panel on crypto adoption in Brazil at the Brazil House with Andre Portilho from BTG Pactual and several other luminaries, and I was able to record more than 20 interviews from the Filecoin Foundation Penthouse just across the street from the main WEF venue (best view in town!)

🔎 What’s in this week’s BCR?

Bolsonaro X account hacked by memecoin promoters

Moody’s highlights Drex, financial tech in Brazil in new report

Trump coin fever rocks Brazil

Nubank CEO Velez says Trump will be good for crypto markets worldwide

Central Bank looks to improve Drex messaging after Pix backlash

Thanks for reading and have a great week!

- AWS

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🎙New Podcast!

This week’s episode is Part Two of my conversation with Antonio Neto. We dive into his experience running the Brazil and Latin America business for FTX before the exchange collapsed in late 2022. We talk about what it was like to be working inside the exchange when everything imploded, Sam Bankman-Fried’s role in the craziness and whether justice was served in SBF’s trial

🎧 You can find Brazil Crypto Report content wherever you listen to podcasts: Spotify | Apple Podcasts | Amazon | Anchor | YouTube

Petrobras explores bitcoin mining

The Brazilian state-owned oil company is starting a new R&D project that explores bitcoin mining and tokenization, among other initiatives focusing on blockchain applications in the company’s value chain.

Other energy companies in countries like Russia, Saudi Arabia and Argentina have embarked on similar projects.

Partners in the project include the Leopoldo Américo Miguez de Mello Research, Development and Innovation Center, Petrobras University and the Pontifical Catholic University of Rio de Janeiro.

Recall that in 2023 Petrobras announced a collaboration with Cardano Foundation to provide blockchain education to employees.

Blocknews BlockTrends Livecoins Exame CoinTelegraph Brasil

Hackers invade Bolsonaro’s X account to promote $Brazil memecoin

Hackers broke into former president Jair Bolsonaro’s X account to promote a $Brazil memecoin launched via Pump.fun on Solana

Portal do Bitcoin Livecoins CoinTelegraph Brasil

Moody’s highlights Drex, financial tech in Brazil

The credit ratings agency published a special report looking at financial technology in Brazil, with a particular emphasis on Pix and Drex. The report argues that these two tools will be a critical in expanding financial inclusion in Brazil.

Moody’s argues that Brazil is one of the world’s most active and innovative when it comes to development and adoption of both crypto and traditional fintech.

The report argues that Drex will pave the way for traditional finance institutions to innovate using smart contracts:

"Commercial banks will be able to use distributed ledger technology (DLT) and the system's tokenization capabilities to offer innovative financial products — such as credit, investments, and insurance — to their customers, while reducing administrative costs.”

"Drex will be another advancement within the Central Bank's innovations, complementing PIX and strengthening the digital infrastructure of the national financial system.”

CoinTelegraph Brasil

Trump coin fever rocks Brazil

The Trump memecoin was the most traded cryptoasset in Brazil the weekend after it launched, according to data site CoinGecko. As of this writing the coin is the second most popular coin in the country.

Brazilian crypto asset manager QR Asset argued that the launch of the Trump and Melania memecoins created a new paradigm for the market:

“TrumpCoin represents a