crypto.news - Venezuela's oil-backed crypto Petro, plagued by controversy and low adoption, is shutting down after failing to revive the economy

in blockchain •  last year 

https://crypto.news/venezuelas-oil-backed-cryptocurrency-petro-shut-down/
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After years of controversy and low adoption, Venezuela's government-backed Petro cryptocurrency is shutting down on January 15th.

Petro, launched in 2018 to escape US sanctions and revive the economy, faced criticism and legal challenges but ultimately failed to gain traction.

While Petro faltered, Venezuelans turned to other cryptocurrencies like Bitcoin to weather hyperinflation and protect their savings.

Beware of failed cryptocurrency!!

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