Tag Archive: Nicolas Maduro

  • Altcoin News, Mining, News, News teaser

    President Maduro: Venezuela to Launch ‘Petro’ Pre-Sale on February 20

    In a move that the government hopes will bring much needed economic relief, Venezuela’s President Nicolas Maduro announced earlier this week that the pre-sale of the country’s new ‘petro’ cryptocurrency will begin on February 20. A Cryptocurrency Backed by Crude For years, Venezuela has been struggling with rising economic and political problems. The South American country has under heavy international sanctions due human rights abuse and corruption and, thanks to extreme hyperinflation, the bolivar has lost 97%

    · February 3, 2018 · 2:30 am
  • US Treasury Warns Investors: Venezuela's Petro Could Violate Sanctions Altcoin News, Blockchain Technology, Emerging Markets, Ethereum, Mining, News, News teaser

    US Treasury Warns Investors: Venezuela’s Petro Could Violate Sanctions

    The US Treasury Department has cautioned investors that Venezuela’s Petro could be in violation of Washington-imposed financial sanctions. In December last year, Venezuelan president Nicolás Maduro announced that his government would be creating a digital currency, the Petro. In a country that is rapidly spiraling into a financial abyss, Maduro sees the state-controlled cryptocurrency as a sanction workaround and subsequently, a way to improve the country’s deep economic problems. During his annual message on the

    · January 18, 2018 · 1:00 am
  • Altcoin News, Legislation, News, News teaser

    Venezuela’s Parliament: Maduro’s Petro Cryptocurrency ‘Illegal’

    Venezuela’s president may have to put his Petro plans on hold as the country’s opposition party has outlawed the proposed state-controlled crypto. As decentralized cryptocurrencies continue to shine and grow in interest, certain governments are becoming aware of the benefits that virtual currencies have. Countries like Russia and Venezuela are reportedly aiming to introduce their own state-controlled cryptos soon, with latter seeming to make great progress in doing just that. In a bid to fight

    · January 10, 2018 · 11:30 pm
  • US Treasury Warns Investors: Venezuela's Petro Could Violate Sanctions Altcoins, Emerging Markets, Mining, News, News teaser

    Venezuela Petro Cryptocurrency ‘Will be Worth $5.9B’ Says Maduro

    Crisis-hit Venezuela will issue its own oil-backed cryptocurrency, Petro, with an implied value of $5.9 billion as its economy continues to decay. 100 Million Petros ‘Ordered’ At $59 A Piece In what appears to be a last-ditch attempt to circumvent US sanctions and keep cash flowing into the country, President Nicolas Maduro announced 100 million units of its Petro cryptocurrency would enter the market. The announcement, according to Reuters, came during the President’s appearance on

    · January 6, 2018 · 11:45 am
  • Bitcoin, Legislation, Mining, News, News teaser

    Venezuela Now Requires Bitcoin Miners to Register with the Government

    Bitcoin mining has exploded in Venezuela due to the country’s massive hyperinflation. Now the Venezuelan government is requiring bitcoin miners to join an online registry. It seems that the misery of the Venezuelan people knows no end. The South American country’s economy has been hammered by massive hyperinflation due to the policies of the authoritarian government, now headed by President Nicolas Maduro. Many people, both poor and rich, have turned to mining Bitcoin in order

    · December 14, 2017 · 3:15 am
  • Altcoins, Bitcoin, News, News teaser

    Venezuela Launching Oil-Backed Cryptocurrency – the Petro!

    President Nicolas Maduro of Venezuela has announced the creation of a new national digital currency – the Petro. He believes that this cryptocurrency will fight off the effects of the US-led sanctions. The economic situation in Venezuela is in total freefall. The once-prosperous South American nation has descended into chaos over the last few years as the central government has become more authoritative. The national currency, the bolivar, has fallen in value by a staggering

    · December 4, 2017 · 2:45 am
  • Starving Venezuelans Turn to Bitcoin Mining in Desperation Bitcoin, Ethereum, Mining, News, News teaser

    Starving Venezuelans Turn to Bitcoin Mining in Desperation

    Many people in the troubled South American nation have turned to Bitcoin mining in a desperate attempt to fend off starvation and keep their families alive. The once thriving South American nation of Venezuela has been sliding into an economic apocalypse over the last few years. The socialist regime of Hugo Chavez has been followed by current President Nicolás Maduro, and the economic policies put in place has transformed a country with more oil reserves

    · August 9, 2017 · 10:45 am
  • Venezuela Bitcoin, Legislation, News, News teaser

    Bitcoin Liftoff? Now Venezuela is Ditching Big Bills to ‘Fight Mafia’

    Venezuela has announced the sudden withdrawal of its highest-value banknote, replacing it with coins ahead of a sudden major currency restructure. President to Mafia: ‘Stay Outside With Your Scam’ The country’s bolivar fuerte, introduced in 2008 and since almost crushed under inflation, currently comes in denominations of up to 100 units. The 100 bolivar note, worth around $0.02 USD on the black market, will be removed Wednesday, as Venezuelans have just 10 days to hand them

    · December 12, 2016 · 5:05 am