Are we actually doing any good for Yemen, or just driving them deeper into the darkness? The story that DeFi will be a liberating force in sanctioned countries such as Yemen is extremely tempting. If we’re being real, it’s foolishly idealistic. While proponents tout financial freedom, we're potentially fueling a...
Now picture that same mother, living in war-torn Sana’a, Yemen—unable to provide even basic food for her kids. Now, sanctions have destroyed the Iranian banking system. Because of this, it’s almost impossible for her families overseas to send remittances—the lifeline that previously kept her family in good health and safety....
A new analysis, carried out by TRM Labs, shows an important trend among Yemeni citizens — a shift to decentralized finance (DeFi) platforms. As a result, the retrospective study shows that more than 63% of cryptocurrency related web traffic coming from Yemen is going to DeFi platforms. This flood has...
What Yemen is going through is a singular calamity. As the US sanctions meant to isolate the militant Houthi group in Yemen backfire, they are forcing everyday civilians to adopt decentralized finance (DeFi). As traditional financial systems become harder to access due to ongoing conflict and sanctions, Yemenis are increasingly...
Now picture doing that while the very financial system that you need to support you is being weaponized against you. We know it’s a frustrating and daunting challenge. That’s the new normal for millions of Yemenis, collateral damage in US sanctions targeting the Houthi movement. These sanctions, though imposed with...
Yemeni citizens are increasingly turning to decentralized finance (DeFi) protocols as a means of banking themselves, according to TRM Labs. Additionally, the United States continues to sanction all members of the Houthi movement. This change comes as the US officially designates them a terrorist organization.Yemen has been caught in the...
