Venezuela

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

“Private Digital Money” Better than State-Issued, Swiss Central Banker Says

2 weeks ago admin2 0
Economy & Regulation Private digital currencies are better than any state-issued version, admitted a high-ranking representative of the Swiss National Bank. Cryptocurrencies are also less risky, according to Andrea Maechler, member of the central bank’s governing board. Her comments indicate that Switzerland has no intentions to emit a state-sponsored crypto.   Also read: Centralized Cryptoruble 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

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

Venezuela Says Crypto Mining Now ‘Perfectly Legal,’ Announces Petro Presale

3 months ago admin2 Comments Off on Venezuela Says Crypto Mining Now ‘Perfectly Legal,’ Announces Petro Presale
Venezuela’s government has said cryptocurrency mining is now “completely legal” as it plans the presale of its Petro coin for next month. In comments during a TV address quoted by local news outlet TeleSur, the country’s newly-dubbed ‘cryptocurrency superintendent’ Carlos Vargas confirmed that citizens mining Bitcoin and other cryptocurrencies were not breaking the law. Last Read More

Why Venezuela’s New National Cryptocurrency El Petro Will Fail

3 months ago admin2 Comments Off on Why Venezuela’s New National Cryptocurrency El Petro Will Fail
Altcoins Washington and legacy media are in a tizzy about Venezuela reportedly thwarting international sanctions by way of a dreaded state-backed cryptocurrency. A closer look reveals several stumbling blocks for the Bolivarian Republic: nonexistent reserves, hyperinflation, centralization, and the impossibility of actual redemption. The attempt will fail, if it’s ever rolled out, adding woes to a 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