According to CoinMeta, Paraguay's digital bank ueno was taken over by the central bank on November 3, leaving nearly 3 million customers unable to access their accounts. The central bank stated that the bank's solvency ratio fell below half of the legal minimum requirements, and investigations revealed suspicious lending practices as well as flaws in credit documents and accounting. The incident triggered a political crisis, with thousands of people taking to the streets to protest. President Santiago Peña attempted to resign before being impeached and was later arrested on charges of betrayal of trust and abuse of power for personal gain. The local p2p cryptocurrency market experienced turmoil, with some sellers charging up to 13% more than the normal price for USDT. The local currency, the guaraní, declined by 12.3% within a week, prompting some citizens to turn to stablecoins for value preservation or to maintain their payments. The founder of Paraguay's x4t cryptocurrency exchange, David Eisenmann, stated that the takeover occurred at a time when salaries, rents, and supplier invoices were due, leaving many business owners unable to pay their employees. As of November 9, the central bank reported that 93.1% of the ueno deposit customers had been compensated.