Paraguay’s largest digital bank seized; president resigns amid crisis

Cointime update: Paraguay’s central bank seized the country’s largest digital bank, Banco Vieno, on November 3 citing severe insolvency, freezing all funds and blocking millions of customers from withdrawing deposits in a move affecting nearly 60% of the population. President Santiago Peña submitted his resignation on the morning of November 5 to avoid impeachment, as street protests over the frozen savings escalated into clashes with police.