| Founded | 2018 |
|---|---|
| Closed | 2022 |
| Country | Argentina |
| Sector | Crypto |
| Total raised | $11M (NXTP Ventures, Kaszek, 2018–2022) |
| Collapse type | Mass Layoff Spiral |
| Founder | Federico Ogue |
Buenbit
"Argentina's dollar-substitute crypto exchange collapsed as FTX and LUNA wiped out its user base's trust"
Cascading layoffs that accelerated the decline
Key Events Timeline
Buenbit built a crypto exchange targeting Argentines who used stablecoins as a dollar substitute to escape peso devaluation — a genuinely compelling use case.
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