Venezuela Issues 50,000 Bolivar Bill Amid Persistent Hyperinflation
Venezuelans are used to their currency costing less than the paper it’s printed on. Economic misfortunes and political upheaval place their country at the bottom of all inflation charts, year after year. The latest incarnation of the national fiat, Bolívar Soberano, has succumbed to the illness of all previous emissions – rapid depreciation. The government […]
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In a recent interview, former Central Intelligence Agency (CIA) employee and National Security Agency (NSA) subcontractor turned whistleblower, Edward Snowden, argued that the price and value of bitcoin is an expression of the “large population” that believes in its “usefulness” as a means of exchange. Also Read: UK Regulators Plan “Comprehensive Response” to Illicit Crypto Use […]
Venezuelan authorities have found another way to impose the adoption of the state-issued cryptocurrency, the petro. Citizens will soon have to pay with the government-controlled digital coin if they want to obtain a travel document. Hundreds of Venezuelans are leaving the crisis-hit country every day. Also read: New Stablecoins: From Cryptopound and Metal-Backed Swiss Coin […]
Three suspects have been detained by Chinese police in connection with an alleged cryptocurrency theft. The supposed hackers stole bitcoin and other digital assets worth an estimated $87 million USD. Authorities say this is the biggest heist of this type in the People’s Republic so far. Also read: South African Tax Authority Going After Crypto […]
Announcing a 60-fold increase of the minimum monthly salary, President Maduro promised Venezuelans they will be paid at least 0.5 petro, once his monetary reforms are in place next week. The national crypto will be exchanged at a rate of $60 USD and the new “sovereign bolivar” will be pegged to the digital coin. […]
