News
The government of Nicolas Maduro claims that 15% of fuel payments at petrol stations were made using the state-backed Petro token.
4278
Petro News
In 2017, president of Venezuela, Nicolas Maduro, announced the development and issuing of an official Venezuelan cryptocoin — El Petro cryptocurrency — for Venezuelan citizens. According to the president, the Venezuelan digital currency Petro’s meaning for the country is a way to become more financially independent and to resolve all problems in the economy of the republic. El Petro cryptocurrency’s value is supposed to be dependent on Venezuelan reserves of oil, gold and diamonds. However, the technical aspects of issuing such virtual currency remain unknown. Most likely, the concept of the coin is still just in written form without any real implementation. In terms of Bitcoin and other altcoins, they have already become very popular in Venezuela, as its citizens use it to protect themselves against hyperinflation.
- News
The U.S. government issued a $5 million bounty to the supervisor of the Petro, but court documents suggest that crypto has little to do with alleged sanction evasion schemes.
4414 - News
Venezuelan petrol stations now support the state-issued Petro cryptocurrencies, however, the rollout comes amid an aggressive adjustment to the country’s petrol regime.
9799 - News
Signs indicate that Venezuela’s state-backed cryptocurrency quietly underwent a hard fork earlier this month.
5499 - News
Venezuelan digital asset exchange Criptolago has introduced SMS-based cryptocurrency transfers.
7251 - Expert Take
Despite the high level of privacy, Venezuela’s national crypto could not help avoid international sanctions nor even cover the illicit activities of the country’s leaders.
6830 - News
As Venezuelan hospitals face widespread shortages, President Maduro is by airdropping Petro tokens to doctors.
6731 - Analysis
Contrary to initial inspection, recent allegations against Maduro and other Venezuelan brass do not directly involve cryptocurrency.
3637 - Opinion
Cryptocurrency is an alternative to sovereign currencies that are issued by state governments, but national digital currencies are not so far away from being launched.
3281 - News
Around 6 to 8 million Venezuelans were airdropped half a Petro each by the government, with many trying to sell it for half the official price.
5944 - News
Nicolas Maduro, president of Venezuela, announced on Friday the opening of a new crypto-run casino in a battered country where betting halls have all but gone extinct.
6526 - News
The president of Venezuela, Nicolas Maduro, has announced that the state-owned PDVSA oil firm will sell 4.5 million barrels of oil for Petros.
5714 - News
Maduro’s government promises half a Petro each to more than 8 million Venezuelans as part of a Christmas bonus.
5572 - News
Nicolas Maduro said that national oil inventories are ready for immediate commercialization to serve as backing for the Petro.
6773 - News
Venezuelan President Nicholas Maduro announced that country’s retirees and pensioners will be paid their Christmas bonuses in Petro.
9746