Petro

Venezuela’s Bolivar Sees 454% Inflation in Q1 as Maduro Hawks the Petro

2 days ago admin2 0
Advertisement Join our community of 10 000 traders on Hacked.com for just $39 per month. Runaway inflation continues to devalue the Venezuelan Bolivar (VEB), even as the country’s authoritarian government seeks to divert attention from the floundering economy by hawking its “Petro” cryptocurrency. According to Reuters, prices in Venezuela rose by 454 percent during the Read More

Venezuela: Petro’s Impact Will Be Felt Within “Three to Six Months”

2 weeks ago admin2 0
Advertisement Join our community of 10 000 traders on Hacked.com for just $39 per month. During an interview with Venezuela’s Cuatro F newspaper, the executive secretary of the country’s Blockchain Observatory, Daniel Peña, stated that he believes the Petro (PTR), Venezuela’s oil-backed cryptocurrency, will positively impact the country’s economy within “three to six months.” During Read More

Venezuela to Use the Petro to Buy Auto Parts from Russia

2 weeks ago admin2 Comments Off on Venezuela to Use the Petro to Buy Auto Parts from Russia
Featured Venezuelan government intends to purchase Russian auto parts with its state-issued cryptocurrency. Ministers from both countries have discussed the use of the petro in bilateral transactions during a high-level meeting in Caracas. Possible Russian crypto investments are also on the agenda. Also read: Venezuelans to Buy Homes and Property with State Cryptocurrency Caracas to Read More

‘We Need an International Discussion on Cryptocurrencies’: OECD’s Medcraft

4 weeks ago admin2 Comments Off on ‘We Need an International Discussion on Cryptocurrencies’: OECD’s Medcraft
Advertisement Join our community of 10 000 traders on Hacked.com for just $39 per month. Greg Medcraft, Director of the Directorate for Financial and Enterprise Affairs of the OECD, recently revealed that he believes we need an “international discussion on cryptocurrencies,” and that blockchain technology will propel the “next revolution.” During an interview on the Read More

Venezuela’s Petro “May Help the Global Currency System”: Chinese Credit Rating Giant

2 months ago admin2 Comments Off on Venezuela’s Petro “May Help the Global Currency System”: Chinese Credit Rating Giant
Advertisement Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. Dagong Global Credit Rating, one of China’s biggest credit rating agencies, recently published a report commenting on Venezuela’s oil-backed cryptocurrency, the Petro (PTR). Per the report, the cryptocurrency “may help the global currency system return to its basic value.” While the Read More

‘These Guys Just Need Money’: What Do Venezuelan Users Think of the Petro?

2 months ago admin2 Comments Off on ‘These Guys Just Need Money’: What Do Venezuelan Users Think of the Petro?
When the Petro was unveiled to the world by Venezuela’s President Nicolas Maduro, he led the cheering squad about what a groundbreaking and successful idea it would be. A government-backed, oil-pegged, cryptocurrency that would aid the ailing Venezuelan nation in their time of crisis with a hyper-inflated currency. However, the pomp and promise of the Read More

Venezuela May Move to Limit New Crypto Exchange Launches

2 months ago admin2 Comments Off on Venezuela May Move to Limit New Crypto Exchange Launches
Venezuela’s government may move to restrict the number of cryptocurrency exchanges that will be able to operate domestically. According to a ten-page manual published last week as part of a set of releases related to the country’s newly-launched cryptocurrency, the Petro, as few as eight exchanges may be initially approved to operate in the market. The document, Read More

US Senators Blast Venezuela’s Oil-Backed Cryptocurrency Plan

3 months ago admin2 Comments Off on US Senators Blast Venezuela’s Oil-Backed Cryptocurrency Plan
U.S. Senators Marco Rubio (R.-Fl) and Robert Menendez (D.-NJ) have denounced Venezuela’s planned cryptocurrency in a new letter. In an open letter addressed to U.S. Treasury Secretary Steven Mnuchin, Rubio and Menendez asked how the Treasury Department was monitoring Venezuela’s plan to create its own oil-backed cryptocurrency, which the country’s president, Nicolas Maduro, has said Read More

Facing Hyperinflation, Venezuela to Issue Oil-Backed Cryptocurrency

5 months ago admin2 Comments Off on Facing Hyperinflation, Venezuela to Issue Oil-Backed Cryptocurrency
Venezuela, the country plagued by hyperinflation pressures over the past few years, has announced that it will issue an oil-backed state cryptocurrency called the ‘Petro’ in an attempt to shore up its struggling economy. The announcement comes as a result of the massive adoption of Bitcoin in the nation. The announcement made by President Maduro Read More