El Dorado P2P Platform Shuts Down in Venezuela Amidst Exchange Rate Manipulation Accusations

El Dorado P2P, a digital wallet platform popular in Venezuela, has ceased operations in the country. The announcement came from co-founder Guillermo Goncalves, who cited pressure from Venezuelan authorities and accusations of manipulating the parallel dollar exchange rate. "I am publicly apologizing to anyone affected by our actions," Goncalves said in a video statement. The platform's connection to websites that allegedly influenced the fluctuating parallel dollar rate is under investigation. The closure of El Dorado P2P highlights the challenges of operating financial technology in a volatile economic environment. The Venezuelan government has not yet issued an official statement regarding the closure, but the incident underscores the ongoing complexities of the Venezuelan financial system.