In the early hours of January 3rd, Venezuelan time (afternoon Taiwan time), multiple explosions and flashes were seen in the capital, Caracas. The Fort Tiuna Army Base and the La Carlota Air Base were hit one after another, and the low-altitude roar of F-35 fighter jets plunged the capital into chaos instantly.
The White House later confirmed that the operation was carried out by a naval task force deployed in the Caribbean, targeting "drug-related targets." According to a CBS report early on the 3rd, the US emphasized that the operation was limited, with President Trump describing it as a "targeted kill." Meanwhile, Venezuelan President Maduro declared a state of wartime emergency, accusing Washington of launching a serious act of aggression.
Later, Trump announced on social media that the U.S. military had successfully captured Venezuelan President Maduro and that he and his wife had been extradited (to the United States). This operation was carried out in cooperation with U.S. law enforcement agencies. Further details will be released later.
Synchronous reaction in the crypto market
After the explosive news spread across social media, the crypto market reacted with a rapid sell-off. Bitcoin initially fell below $90,000, then touched $88,766. Bitcoin is currently trading at $89,900, and Ethereum at $3,106, both down more than 2% from yesterday's highs.
The narrative of a "2026 rebound sentiment" briefly died down, with a large number of leveraged positions being liquidated, but the funding rate for perpetual contracts remained positive and did not turn into a short-term bearish trend.
Venezuela's "supply chain" may be cut off.
This strike has a more direct impact on Venezuelan people's livelihoods. After hyperinflation emptied the purchasing power of the bolivar, stablecoins and Bitcoin have long been the "parallel financial systems" for locals' daily transactions and cross-border remittances. If the military operation continues, causing power outages, damage to communication systems, or restrictions, blockchain nodes will be blocked, and on-chain payments will likely be difficult to continue.
Over the past three years, the average daily transaction volume of P2P over-the-counter transactions in Venezuela has been around US$45 million, accounting for nearly 30% of local retail payments. If network outages are prolonged, cash and physical US dollars will once again become the primary medium of exchange, weakening the inflation-buffering function of blockchain technology.
In the short term, the market will be closely watching whether the UN Security Council passes a condemnation or sanctions, which will determine how much room there is for the US to take a hard line.
