BTCUSDT
Perp
67,675
-2.85%
ETHUSDT
Perp
1,976.4
-4.37%
SAGAUSDT
Perp
0.02999
-3.84%
Venezuela has a complex history with cryptocurrencies. In 2018, Nicolás Maduro's government launched the petro, a cryptocurrency backed by the country's natural wealth, such as oil, iron, gold and diamonds.
However, after seven months, all operations with the petro were suspended due to a corruption scandal involving the state-owned oil company PDVSA. Estimated losses from these operations vary between US$13 billion and US$16 billion.
Furthermore, cryptocurrency remittances have become essential to support Venezuelan families, representing around 6% of the country's GDP.