Petro

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Venezuelans to Buy Homes and Property with State Cryptocurrency

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Venezuelans will be able to buy houses and other property with their new national cryptocurrency. Real estate deals in petro will be authorized in April, President Maduro announced. The government will also finance the construction of 230,000 new homes using funds from the pre-sale of the oil-backed crypto.   Also read: Rubles Can Buy You … Read more

Rubles Can Buy You Petro Maduro Says While Denominating Venezuela’s Currency

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El Petro, the Venezuelan cryptocurrency, can now be purchased with Russian rubles, among other fiat currencies, President Nicolás Maduro announced. Companies from many countries, including the United States, want to buy the oil-backed crypto, he added. Venezuela’s head of state also said he decided to denominate the national currency, the bolivar.  Also read: Venezuela Recruiting … Read more

Snowden on Bitcoin: Blasts Public Ledger and Core Developers

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The world’s most famous whistleblower, Edward Snowden, gave a dynamic, wide-ranging interview to Peter Van Valkenburgh during Blockstack Berlin 2018. Mr. Snowden discussed ongoing issues of privacy and cryptocurrency, his preferences, and revealed how bitcoin helped him in his most historic hour. He also took the opportunity to chide growing crypto tribalism, calling out maximalists, … Read more

Report Claims Putin Aided Maduro in Creating Venezuela’s Crypto, Petro

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A Time investigation into the development of Venezuela’s state-backed cryptocurrency, petro, revealed strong anecdotal and circumstantial evidence connecting Russia to its launch. At least two Russians with ties to Vladimir Putin were present at petro’s unveiling, complete with the Venezuelan president’s thanks. Analysts are claiming the South American country is Mr. Putin’s crypto guinea pig … Read more

Bitcoin Price Watch: Another Jump Despite Clashing Factors

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Bitcoin has enjoyed a small jump following yesterday’s monthly low. At press time, the coin is trading for just over $8,300 following a rough stint that saw it meandering at the $7,600 mark during the early hours of March 18. For every factor contributing to bitcoin’s rise, there seems to be one knocking it back. … Read more

Trump Signs Executive Order Banning Venezuela’s Petro Cryptocurrency

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U.S. president Donald Trump has signed an executive order banning American citizens from using Venezuelan cryptocurrencies. In effect, this means that the petro, recently launched by Venezuelan president Nicolas Maduro, is now illegal in the U.S. The controversial cryptocurrency was widely seen as a means to evade economic sanctions imposed by the U.S. The executive … Read more

Venezuela Recruiting Citizens to Mine Cryptocurrencies

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Venezuela is calling for its citizens to build cryptocurrency mining farms throughout the country. The government has set up a crypto mining program which president Nicolas Maduro hopes will attract at least 1 million people such as university students, the unemployed, single mothers and the homeless. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With … Read more