altcoin cryptocurrencies Petro Venezuela

Venezuela on Fire: How Maduro’s Petro Plan Failed to Bail Out the Country

As Venezuela enters the crucial part of a political crisis, we decided to trace the fate of the Petro — the national cryptocurrency that seemingly failed to save country’s economy. Venezuelan leader Nicolas Maduro was sworn in for a second term on Jan. 10, amid tremendous hyperinflation, long-lasting political and economic crisis, and strict sanctions […]

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Nicolas Maduro Urges His Venezuelan Residents to Invest in the Petro Coin and Gold

Nicolas Maduro, Venezuela’s president, called on workers in his country to save money in gold and his cryptocurrency ‘The Petro’ during a salary shake-up Thursday. According to the local news source Noticiero Digital, in the next few weeks workers will be receiving their bonuses in the Petro coin, instead of fiat. Nicolas Maduro and The […]

altcoin Petro Venezuela

Venezuela Mandates Passport Fees Must Be Paid in Controversial Cryptocurrency Petro

Petro, the cryptocurrency touted as a way out of Venezuela’s financial crisis, will become the only payment method for passports starting Oct. 8. Venezuelans can only use the state-backed cryptocurrency, the Petro, to pay for passport fees starting next week, the country’s vice president Delcy Rodriguez said in a press conference Friday, Oct. 5. Ahead […]