Venezuela

Maduro Opens Crypto Casino in Venezuela

</header> <strong>Venezuela’s President Nicolas Maduro has authorized the opening of a casino at a luxury hotel in Caracas where bets must be placed in petros, the country’s national oil-backed digital currency. Several cryptocurrencies and fiat currencies can be exchanged into petros to wager in the casino. The proceeds are expected to be used for healthcare …

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Venezuela’s Maduro: Airlines Must Use Petros to Pay for Fuel

Venezuelan President Nicolas Maduro has declared all flights out of the country must use the oil-backed petro cryptocurrency to pay for fuel. In his annual speech to the Venezuelan Constituent Assembly, Maduro announced the state-owned oil company, PDVSA, would only accept petro for fuel sold to airlines. “I decree the sale of all fuel sold …

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Problems Escalate in Venezuela as Millions Rush to Spend Petros

</header> <strong>According to the Venezuelan government, millions of families have used the petro, the country’s national digital currency, to pay for goods and services. As shoppers rush to spend their coins, merchants are reportedly struggling, effectively forced to sell goods at a deep discount. A</strong><strong>t least one merchant is said to have been arrested.</strong> Also …

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Burger King Venezuela Starts Bitcoin Payments in First of 40 Stores

Bitcoin (BTC) has come to Burger King in Venezuela as a new partnership opens up cryptocurrency payments at the fast-food chain. Confirmed in a tweet on Dec. 30, a single Burger King branch in the Sambil area of Caracas now accepts Bitcoin, along with altcoins Ether (ETH), Litecoin (LTC), Binance Coin (BNB) and Dash (DASH), …

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Venezuela, Argentina Set New Weekly P2P Bitcoin Trading Volume Records

Bitcoin (BTC) weekly trading volumes on peer-to-peer (P2P) trading platform LocalBitcoins in Venezuela and Argentina have hit new all-time highs in their respective national currencies. Cryptocurrency data website CoinDance shows that LocalBitcoins trading volume in local fiat currency in Argentina and Venezuela have hit new record highs. According to the website’s data, the week ending …

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Venezuelan Bolivar Trading Volumes on LocalBitcoins Hits New Record High

The volume of Venezuelan bolivars traded against Bitcoin (BTC) on the LocalBitcoins platform another all-time high last week amid rampant hyperinflation in the country. According to Bitcoin statistics website Coin Dance, bolivar volumes on peer-to-peer exchange LocalBitcoins exceeded 209 billion during the week ending Dec. 14. The new all-time high comes after a sharp volume …

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The Coolest Jobs in Crypto

</header> <strong>Meme Lord. Street artist. Unique startup founder. Feeder of the hungry. There’s no end to the amount of cool jobs in crypto, and new uses for decentralized, peer-to-peer cash are limited only by the bounds of one’s imagination. Whether finding new and innovative solutions for longstanding societal or technological problems, just having fun, or …

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Venezuela Cuts Petro’s Backing from 5B Barrels of Oil to 30M: Reuters

Venezuela plans to back its national oil-pegged cryptocurrency, the Petro (PTR), with 30 million barrels of crude oil. Venezuelan President Nicolas Maduro announced that the oil inventories are sitting in the country’s storage tanks and are ready for immediate commercialization to serve as a “liquid, physical, material backing” for the Petro.  The president announced the …

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Venezuela to Pay Retirees and Pensioners Christmas Bonus in Petro

Venezuelan President Nicholas Maduro announced that the Christmas bonus of the country’s retirees and pensioners will be paid to them in the national cryptocurrency Petro. The Twitter profile of local news outlet Venepress reported on Maduro’s remarks on Nov. 17. This particular instance is not the first time that Venezuela pushes Petro into the wallets …

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