Venezuela Launches Cryptocurrency Amid Flagging Economy, Sanctions, Hunger

Pre-sale for an oil-backed cryptocurrency began Tuesday in Venezuela as the financially strapped government attempts to curb an economic crisis. Venezuela hopes their cryptocurrency, called the “petro,” will help buoy the country’s economy, crippled by inflation, economic sanctions and volatile oil prices. Venezuelan President Nicolás Maduro said that the petro aims to infuse his cash-strapped economy…