
Venezuela Petro Dumped at a 50% Discount at LocalBitcoins
Venezuelans are dumping the government-issued Petro, a crypto coin backed by a barrel of Oil, for half its value ($30) at peer-to-peer exchanges like LocalBitcoins. The situation has worsened over the past few weeks as the government has scrambled to tame the USD/Bolivars rate but shutting down avenues for liquidation. At the time of writing,
Venezuelans are dumping the government-issued Petro, a crypto coin backed by a barrel of Oil, for half its value ($30) at peer-to-peer exchanges like LocalBitcoins. The situation has worsened over the past few weeks as the government has scrambled to tame the USD/Bolivars rate but shutting down avenues for liquidation. At the time of writing,