Petro News

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After roughly six years of struggling to garner meaningful traction amid mistrust, technical barriers, and a bombshell corruption scandal, the Venezuelan government has pulled the plug on the state-run, oil-backed crypto.

The latest price moves in bitcoin [BTC] and crypto markets in context for Jan. 15, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

Venezuela officially discontinues its petro cryptocurrency, transitioning back to the bolivar amidst a backdrop of scandals and a government crackdown on crypto operations. This likely marks the end of Maduros ambitious crypto project. The post...

Venezuela is ending its Petro cryptocurrency on Monday, more than five years after it was first launched, according to multiple reports.

The Petro (PTR), the official cryptocurrency of Venezuela, will reportedly stop functioning on January 15th. The government established the currency in 2018 to avoid US sanctions, but it never gained any traction. According to reports, the...

Colombian President Gustavo Petro has made a bold entry into the cryptocurrency world, particularly focusing on Bitcoin.

Colombian President Gustavo Petro has ventured into the crypto realm, with Bitcoin at the forefront of his newfound interest. This unanticipated move, initiated by a generous gift from Samson Mow, CEO of Blockstream, has made Petro an official...

Javier Milei triumphs with a 2-million-vote lead, securing Argentinas presidency. Can he tackle soaring inflation?

The government will spend six additional months reorganizing the entity, which it shut in March 2023.