Venezuelans Must Pay Passport Fees with Petro Cryptocurrency: Govt.

Starting next week, Venezuelans will have to pay their passport fees with the petro, the controversial state-supported cryptocurrency that is allegedly backed by oil. This was announced in a press conference on Friday, Oct. 5, by the country’s vice president, Delcy Rodriguez, ahead of the coin’s official launch in November. This follows a similar press …

Venezuela to Launch Petro-Pegged Fiat Currency Next Month

Venezuela, a country battling one of the deepest economic recessions on record, is set to launch a new fiat currency pegged to its oil-backed “petro” cryptocurrency next month, according to President Nicolas Maduro. Venezuela to Create Fiat Currency Pegged to Cryptocurrency That is Pegged to Oil As reported by local news outlet Telesur, Maduro said …

Roger Ver Pumps BCH, Slams ‘Oil-Backed’ Petro at Brazil Crypto Summit

Join our community of 10 000 traders on Hacked.com for just $39 per month. Early bitcoin investor and prominent bitcoin cash (BCH) supporter Roger Ver recently participated in VI Bitconf, a cryptocurrency conference held in São Paulo, Brazil. According to local news outlet Portal do Bitcoin, Ver wasn’t physically there, as he participated while in …

Venezuela to Launch Petro-funded Youth Bank, Maduro Claims

Join our community of 10 000 traders on Hacked.com for just $39 per month. Venezuela will open a youth bank funded by the government’s state-backed petro cryptocurrency, the country’s president said on Thursday. Nicolas Maduro announced the initiative during a youth rally held in the state of Aragua, and regional news outlet Telesur reports that …

Bolivar to Bitcoin Trading Surpasses a Record $1 Million per Day

Join our community of 10 000 traders on Hacked.com for just $39 per month. Venezuela’s economic situation has been steadily declining in the past few years, bringing Venezuelans to turn to cryptocurrencies. According to VeneBloc data, the bolivar-to-bitcoin market recently reached a new record, as the equivalent of $1.009 million in bolivars were exchanged for …