US Government Puts Out $5 Million Bounty for Petro Supervisor

The United States government has put Joselit Ramirez Camacho, the Venezuelan government’s superintendent of the Petro cryptocurrency, on its Most Wanted List. According to a June 1 statement, the Homeland Security Investigations branch of the U.S. Immigration and Customs Enforcement agency issued a bounty for up to $5 million for any information that would lead to the capture of Petro’s supervisor. This was done following an investigation by the HSI’s New York office.  The authorities allege that Ramirez Camacho has “deep political, social and economic ties” to suspected narcotic kingpins,…

Venezuela Raises Petrol Prices, Mandates Support for Petro at Gas Stations

Venezuela has announced that petrol stations across the nation will sell gasoline at a reduced price in exchange for the country’s state-issued, oil-backed cryptocurrency, the Petro. However, the announcement comes alongside the removal of local petrol subsidies that will see the price of gasoline spiking from close to nothing to $0.02 per liter. Venezuela introduces new petrol regime Amid acute petrol shortages, June 1 saw Venezuela remove subsidies on the price of gasoline. The new petrol regime will see Venezuelan car-owners allotted 120 liters per month at roughly $0.02 —…

Venezuela Appears to Have Hard Forked The Petro

On May 5, Venezuela’s government announced that its controversial oil-backed cryptocurrency, El Petro, would go offline for maintenance until May 10. However, observers have since identified that the official Petro block explorer now lists May 5, 2020, as the date that its genesis block was mined.  Other block explorers record Oct.13, 2018, as the date for Petro’s genesis block — suggesting that there is more than one Petro chain currently in existence. Petro suspected of quietly forking After the maintenance was completed, the National Superintendency of Cryptoassets announced it had…

Maduro’s Gov’t Promises 8M Venezuelans Half a Petro Each

Venezuelan President Nicolás Maduro announced that this week the government will pay half a Petro to Venezuelan retirees and public workers as Christmas bonus. With a total of 4,500,000 retirees and 3,500,000 public workers, Maduro said in a speech on Dec. 15 that he expects to deliver half a Petro to more than 8 million Venezuelans this week. This follows up on remarks Maduro made in mid-November. With a fixed value of $60 established by the Venezuelan government, the average Petro bonus that each Venezuelan will receive will be equivalent…

Venezuela’s Maduro Says He Will Airdrop Half a Petro Each to Nation’s Civilians

To be eligible, citizens will first have to sign up to PetroApp, the official government crypto wallet that launched back in May. The only platform that supports the oil-backed cryptocurrency, PetroApp is designed to allow users to purchase goods and services from their phones, as well as for standard transfers. Source If You Liked This Article Click To Share AirdropCiviliansMaduroNationsPetroVenezuelas CryptoX Portal

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 of pensioners so far. As Cointelegraph reported in December last year, Venezuela back then has automatically converted pensioners’ bonuses for the year into Petro. Petro, the future for Venezuelan economy? The crypto asset in question…

Venezuela President Maduro Is Not Pro-Crypto, He Just Likes Petro

Last week, the president of Venezuela, Nicolás Maduro, appeared on national television approaching a Trezor-branded stall at a local technological fair. He seemed perplexed as to what exactly a hardware cryptocurrency wallet is supposed to do. Still, Maduro, device in hand, turned to the camera and proclaimed that cryptocurrencies — his country’s own digital currency, Petro, in particular — are important for Venezuela’s economic future. Trezor officials soon clarified that they had nothing to do with the stunt, and that the company had no official resellers in the country. The…

Venezuelan Exchange Rolls Out Crypto Debit Card with Petro Support

Two Venezuelan companies have partnered to release a cryptocurrency debit card and point-of-sale (PoS) system. “Crypto transfer device” supports four currencies According to a social media release by state-sanctioned exchange CriptoLAGO on Oct. 1, the joint offering with so-called “investment cryptobank” Glufco is already taking orders. Translated part of the announcement states:  “What we were waiting for, our alliance with Glufco, puts us at the forefront.”  The system will provide support for Bitcoin (BTC), Ether (ETH), Dash (DASH) and Petro, the Venezuelan government’s state-backed digital currency.  Neither offering, it appears,…

Venezuela to Finance Housing Projects through Petro Cryptocurrency

Venezuela has decided to use its state-backed cryptocurrency, the Petro, to fund its ambitious housing scheme. Ildemaro Villarroel, the country’s Minister of Habitat and Housing, confirmed this news in an announcement made on a government website. The minister agreed confidently that by funding the project through the country’s pet cryptocurrency, Petro, there are more guarantees that the initiative will be completed as per its defined agenda. The minister also noted that the decision will allow private investors to contribute to the housing scheme by financing the project through the stock…