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 […]

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Venezuela’s Petro Cryptocurrency Is a Gift to Future Generations

Leon Markovitz is a serial entrepreneur and marketing professional. Born in Venezuela, he now lives in Israel where he is researching and marketing stablecoin projects. I really got into cryptocurrencies when I heard about Venezuela’s stablecoin attempt, the petro, late last year. The idea that the dictatorship was going to try using blockchain to further […]

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Venezuela Looking to Launch a Central Bank for Cryptocurrencies

Venezuela is reportedly looking to lunch a central bank for cryptocurrencies, as the country’s National Constituent Assembly is preparing to reform the Venezuelan Constitution to include it, along with a court above its Supreme Court. According to Reuters, information on the development was provided by Hermann Escarrá, which the outlet describes as “one of the […]

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$5.1 Trillion Vanguard Sees Bitcoin Going to Zero, Debunking Illogical Arguments

Join our community of 10 000 traders on Hacked.com for just $39 per month. Following the footsteps of Tim Buckley, the CEO at Vanguard, an investment firm that oversees $5.1 trillion in assets, the company’s chief economist Joe Davis stated that he sees the price of bitcoin dropping to zero in the long-term. Argument 1: […]

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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 […]

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

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 first […]

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

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 the […]

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Crypto Investors Should Stay Away from Venezuela’s Petro

Yaya J. Fanusie is the director of analysis at the Foundation for Defense of Democracies’ Center on Sanctions and Illicit Finance. Follow him on Twitter at @SignCurve. Michaela Frai is a research associate at the foundation. Follow her at @MichaelaFrai and @FDD.  Venezuela has reportedly made the first state-backed cryptocurrency, the petro, available to the public. Crypto investors […]

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Venezuela’s National Assembly Declares Petro Unconstitutional

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. Venezuela’s Assemblea Nacional [National Assembly] recently declared it believes the country’s oil-backed cryptocurrency, the Petro (PTR) is unconstitutional. Through a public statement, the lawmakers denounced the cryptocurrency as a fraud, and a threat to those who invest in it. In the public […]

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Venezuela Rejects “False Information” on Petro Whitepaper

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. The Venezuelan government has recently stated that “false information” about its oil-backed Petro cryptocurrency has been published online. According to Reuters, the government is rejecting a leaked, allegedly fake, Petro whitepaper. The superintendence of Venezuelan Cryptoassets and Related Activites, bullishly announced late […]

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