BTCUSDT
Perp
77,089.6
-1.25%
ETHUSDT
Perp
2,458.47
-0.02%
SAGAUSDT
Perp
0.01811
+26.20%
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.