Brookings: Venezuela’s Petro Undermines Legitimate Cryptocurrencies

Brookings Institute analysts recently argued that Venezuela’s oil-backed cryptocurrency, the Petro (PTR), is likelier to harm legitimate cryptocurrencies like Bitcoin and Ethereum, than it is o help Venezuelan’s escape the recession the country is currently enduring. Through an article published on its website, the think tank first noted that Venezuelan President Nicolás Maduro claims the The post Brookings: Venezuela’s Petro Undermines Legitimate Cryptocurrencies appeared first on CCN

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Venezuela’s Petro “May Help the Global Currency System”: Chinese Credit Rating Giant

The post Venezuela’s Petro “May Help the Global Currency System”: Chinese Credit Rating Giant appeared first on CCN Dagong Global Credit Rating, one of China’s biggest credit rating agencies, recently published a report commenting on Venezuela’s oil-backed cryptocurrency, the Petro (PTR). Per the report, the cryptocurrency “may help the global currency system return to its basic value.” While the agency doesn’t assert whether the Petro can help Venezuela’s economy, it points out the The post Venezuela’s Petro “May Help the Global Currency System”: Chinese Credit Rating Giant appeared first on…

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Venezuela Announces New ‘Petro Gold’ Cryptocurrency, One Day After Launching the Petro

The post Venezuela Announces New ‘Petro Gold’ Cryptocurrency, One Day After Launching the Petro appeared first on CCN Venezuelan leader Nicolás Maduro has recently announced that within one week, the county is going to launch a new cryptocurrency, the Petro Gold. The cryptocurrency, according to local news source Telesur, will be backed by precious metals. Notably, Maduro’s announcement was made Wednesday (Feb. 21), one day after Venezuela launched its oil-backed cryptocurrency, the Petro. The post Venezuela Announces New ‘Petro Gold’ Cryptocurrency, One Day After Launching the Petro appeared first on…

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