Tag Archives: Venezuela

Crypto Petro Competes With Bolivar

As of Monday, the Venezuelan cryptocurrency, the Petro, became the “mandatory accounting unit” of the state oil company PDVSA. And that’s just in time, since the fiat currency of the country, the Bolivar, is now being used as toilet paper … Continue reading

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In A First, Fiat Currency Tied To A Cryptocurrency

A sign of desperation or genius? Venezuela’s President Maduro, who is fighting against hyperinflation, has just done a major financial flip by tying the country’s fiat currency to the value of its “Petro” cryptocurrency. (Most “stable” cryptocurrencies are tied to … Continue reading

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Iran Seeking Crypto-Currency To Avoid Sanctions

One of the reasons that governments, including the US, are skeptical of cryptocurrencies is that it can be used to avoid regulation, and, in the case of Iran, to avoid U.S. government imposed sanctions. It’s reported that Iran’s Central Bank … Continue reading

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White House Bans Petro Coins

Yesterday upon the issuance of the Petro Coin by the Maduro government in Venezuela, the President of the United States signed an executive banning them. “All transactions related to, provision of financing for, and other dealings in, by a United … Continue reading

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Petro Crypto-Currency Pre-sale Starts

What could be safer than a crypto-currency backed by a bunch of commodities that may still be in the ground and offered by an authoritarian government that is seeking to circumvent international sanctions? Welcome to the pre-sale of Venezuela’s Petro … Continue reading

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Venezuelans Crowdfunding To Leave Country

Get me outta here! Trying to live a normal life in Venezuela has gotten to be so impossible that people are crowdfunding to afford passage out of the country. One is using the Generosity portal, an offshoot of Indiegogo, to … Continue reading

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