Venezuelan Petro Blockchain Faces Operational Difficulties, Hundreds of Wallets Allegedly Blocked

The blockchain of the petro, the Venezuelan official cryptocurrency asset, has been facing difficulties, halting on May 24, with block production restarting on May 27 only to stop again on May 28. Asonacrip, a local cryptocurrency association, also reported that hundreds of petro wallets were eliminated or blocked. Venezuelan Petro Blockchain Halted The blockchain of [...]

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Former Treasury Official Warns of Complete Economic Implosion if US Dollar Loses Global Reserve Currency Status

Former Assistant Secretary for Public Affairs for the U.S. Department of the Treasury Monica Crowley has warned of “catastrophic” consequences if the U.S. dollar loses its status as the world’s reserve currency. “That would mean the end of the U.S. dollar,” she said, predicting that “there would be a complete implosion of the global economic [...]

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Algeria Readies $1.5B BRICS Bid: Major Move for Membership in the Cards?

As quoted by Ennahar TV, Algerian president Abdelmadjid Tebboune has signaled that Algeria — Africa’s largest nation — is eager to align itself with the BRICS coalition. He conveyed that this significant alignment with the five major emerging economies could potentially unlock unprecedented economic prospects for all the nations. Algeria Sets Sights on BRICS In [...]

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Venezuela shuts down crypto mining facilities, exchanges amid corruption probe

Venezuela’s energy supplier has shut down crypto mining facilities throughout the country as part of a reorganization of the national crypto department and ongoing corruption investigations involving the country’s oil company. According to local media reports, crypto mining companies, and tweets from Venezuela’s National Association of Cryptocurrencies, mining facilities were shut down in the past [...]

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Shell Inaugurates 55th National Student Art Competition, Promotes NFT, Crypto Art, Digital Adoption

Not just a competition, but an event with a promotion of NFTs, crypto art, and digital innovations as the future of art.

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Colombia’s New President: Country Can Use Natural Resources to Produce Bitcoin, Not Cocaine

Apart from attention to climate change, president-elect Gustavo Petro expressed approval for Bitcoin adoption.

Continue reading Colombia’s New President: Country Can Use Natural Resources to Produce Bitcoin, Not Cocaine at DailyCoin.com.

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Venezuela’s Sunacrip Launches Petro-Based Gift Card Market and Exchange – Emerging Markets Bitcoin News

Sunacrip, the Venezuelan cryptocurrency watchdog, has announced a set of improvements to its Petroapp wallet, allowing Venezuelans to use the petro (PTR) for new functions. The app now has an embedded cryptocurrency exchange that allows users to exchange petros for other currencies, and a series of gift card and payment options to increase adoption. […]

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Venezuelan Minimum Monthly Wage Not Pegged to the Petro (PTR)

People in the working sectors were outraged by this mandate. On March 15th, the Gazette 6,691 published decree 4.653. Following

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Venezuelan Minimum Monthly Wage Not Pegged to the Petro, According to Official Gazette Decree – Emerging Markets Bitcoin News

The new decree that makes official the recently announced Venezuelan minimum monthly wage rise has been revealed in the Official Gazette, with no mention of its supposed peg to the petro, the national cryptocurrency. The law published mentions that the wage will be 130 VES, using the national fiat currency as a unit of account, […]

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Venezuela Will Peg Minimum Wage to Nation’s Cryptocurrency

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The Birth Of The Bitcoin-Dollar

Bitcoin represents the next evolution of the American currency being tied to a system of energy storage.

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Tecpetrol Raises Crude Oil Production Fivefold With Crypto Mining In Argentina

Tecpetrol, an Argentina-based oil and gas company, has reported the benefits of including crypto mining operations in its oil explorative activities. According to Tecpetrol CEO Ricardo Markous, including on-site vented gas generators to mine cryptocurrency has allowed oil production to rise fivefold in Los Toldos II, an exploration project located in the Vaca Muerta oilfield. [...]

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Venezuela overhauls national crypto department

A new board will lead the reorganization, headed by Anabel Pereira Fernández. The new team excludes Joselit Ramirez, who led the department since its inception in 2018.

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Venezuelan Crypto Ecosystem Still in Shambles 4 Months After Sunacrip Intervention

The Venezuelan cryptocurrency ecosystem remains on shaky ground four months after the intervention of national crypto watchdog Sunacrip, and the arrest of its head, Joselit Ramirez, due to alleged participation in a $20 billion corruption scandal involving the undeclared sale of crude oil for crypto. There have been no official updates from Sunacrip’s restructuring board, [...]

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Brazilian President Lula Ends Fuel Price Peg to the US Dollar, Announces Wholesale Discounts

Brazilian President Luiz Inacio ‘Lula’ da Silva has announced that state oil company Petrobras will not be using US dollar-based international prices to set its internal fuel pricing structure. The “Brazilianization” of the industry determines discounts for distributors, with prices now being determined by other benchmarks. Brazilian President ‘Lula’ Announces New Fuel Pricing Structure; Abandons

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Reports Indicate Venezuela Is Preparing to Liquidate the Petro

According to reports, the government of Venezuela could be winding down the operations of the petro cryptocurrency. The decision comes after Sunacrip, the Venezuelan cryptocurrency watchdog, was set back by the alleged participation of its former head Joselit Ramirez in a potential $20 billion corruption scheme involving the settlement of Venezuelan oil sales. Reports Indicate

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Deflecting Blame — Bank of England Governor Bailey Accuses UK Retailers of Overcharging Customers

After the Covid-19 pandemic, many people believe the implementation of extensive stimulus measures and quantitative easing (QE) policies resulted in an overwhelming surge of inflation that has burdened millions across the globe. While certain individuals attribute this economic turmoil to the actions of central banks, Andrew Bailey, the governor of the Bank of England, firmly [...]

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Saudi Arabia Strengthens Bond With China by Joining SCO Bloc as Dialogue Partner

China’s relationship with Saudi Arabia is growing as the country’s Cabinet has agreed to join the Shanghai Cooperation Organization (SCO). The diplomatic move made by the kingdom began with a memorandum of understanding in September, and at the end of March, Saudi Arabia’s Cabinet approved the decision to become a dialogue partner. The Cabinet’s decision [...]

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DICT Taps Coins.ph for Blockchain 101 Webinar

The DICT and Coins.ph conducted the "Blockchain 101: Blockchain for Beginners" webinar to educate individuals about crypto and NFT.

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US-Saudi Tensions Escalate as Report Says Crown Prince Is No Longer Interested in Pleasing the United States 

After Saudi Arabia and members of the Organization of the Petroleum Exporting Countries (OPEC) surprised the world by announcing cuts to oil production, a spokesperson for U.S. president Biden’s National Security Council stated that reducing production is not advisable. According to a recent report, Saudi Arabia’s crown prince Mohammed bin Salman has told associates that [...]

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