Venezuela launches ‘cryptocurrency’ to skirt sanctions


Digital money: Bitcoin and ethereum are digitally scarce instruments that trade on a network that no one owns. — Bloomberg

VENEZUELA launched what it called its very own “cryptocurrency” this week, and on day one of pre-sales raised US$735mil – or so President Nicolás Maduro claims.

But like all of the regime’s attempts at economic alchemy, there is no way to verify that figure. You have to take the word of the government that produced the highest inflation rate in the world in 2017.

The Star Festive Promo: Get 35% OFF Digital Access

Monthly Plan

RM 13.90/month

Best Value

Annual Plan

RM 12.33/month

RM 8.02/month

Billed as RM 96.20 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
Business , Crypto

Next In Business News

KWAP launches Jana MyPesara for retirees�
Malaysia clinches RM1.8bil sales at Gulfood 2026
One Credit debuts smart fintech system
Dividend yield catalyst for CelcomDigi re-rating
HIB acquires 51% stake in Woodpeckers
Dialog enters recovery year driven by midstream recurring income
OGX launches IPO ahead of ACE Market listing
Critical Holdings wins RM35mil design contract
Rousing outlook for Heineken in FY26
Jobless rate set to stay low on improved outlook

Others Also Read