Venezuela

Hyperinflation Hits Lebanon: Food Prices Soar 200%, Biggest Crisis Since Civil War

Lebanon has entered hyperinflation, the first country in the Middle East and North Africa to do so. With a 462% annual inflation rate and food prices rising by almost 200% this month, Lebanon has joined Venezuela in hyperinflating. Meanwhile, the Lebanese pound has lost 82% of its value this year. Lebanon in Hyperinflation Lebanon has …

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A Rare Glimpse Into How Crypto Is Really Used in Venezuela

Over the past two years, many bitcoin believers donated cryptocurrency to initiatives in Venezuela, often holding up the small nation as the pinnacle example of the technology’s potential. The truth on the ground is much more nuanced.  The fintech startup AirTM distributed roughly $300,000 worth of cryptocurrency donations to 60,829 ID-verified Venezuelan e-wallets throughout 2019. …

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Venezuela Seizes 315 Bitcoin Mining Rigs: Miners Discuss Illegal Confiscation, Police Extortion

Gifts and Remittances: Bitcoin.com’s New Tools Allow People to Send BCH via Email This month Bitcoin.com launched two services that help facilitate bitcoin cash adoption and crypto remittance via email. In a recent video on June 5, Bitcoin.com’s Roger Ver showcased gifts.bitcoin.com, a new feature that allows individuals to send BCH gift cards … read …

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Food and Cash Shortages Push Cubans Toward Permissionless Cryptocurrencies

Hundreds of Sites Now Earn Crypto Trading Fees: Exchange WordPress Plugin Sees 300 Active Installs A couple of months ago, a new WordPress (WP) plugin launched that allows anyone to host a digital currency trading platform. With the application, WP website owners can earn fees from various crypto asset trades. The developer of the plugin …

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Online Data Analysis Points to Venezuela Accepting BTC for Passports

Wilshire Phoenix Files Publicly-Traded Bitcoin Trust to Challenge Grayscale’s $3.4 Billion Dominance Wilshire Phoenix has filed to launch a publicly-traded trust called Bitcoin Commodity Trust (BCT) – putting the firm in direct competition with Grayscale Investments’ $3.4 billion bitcoin trust (GBTC). According to the June 12 filing with the U.S. Securities and … read more. …

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Virtual Panda BTM Launched for Colombian Residents: Dispenses BTC, BCH, DAI, and Dash

The CEO of Panda Group and the founder of Colombia’s Panda Exchange and physical Panda BTM terminals, Arley Lozano, recently revealed a new product called app.pandabtm.io. The new service is a virtual automated teller machine that dispenses four types of cryptocurrencies; bitcoin cash (BCH), bitcoin (BTC), DAI, and dash (DASH). The latest effort from Panda …

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US Law Enforcement Promises $5M for the Capture of Venezuela’s Superintendent of Cryptocurrencies

U.S. Immigration and Customs Enforcement’s (ICE) and Homeland Security Investigations (HSI), has put out a bounty for $5 million for the arrest and conviction of Venezuela’s superintendent of cryptocurrency. Joselit de la Trinidad Ramirez Camacho is now added to America’s Most Wanted List, as he is accused of transgressing against U.S. sanctions and working with …

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US Government Puts Out $5 Million Bounty for Petro Supervisor

The United States government has put Joselit Ramirez Camacho, the Venezuelan government’s superintendent of the Petro cryptocurrency, on its Most Wanted List. According to a June 1 statement, the Homeland Security Investigations branch of the U.S. Immigration and Customs Enforcement agency issued a bounty for up to $5 million for any information that would lead …

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Venezuelans Can Now Use Bitcoin to Pay for Goods at 20,000 PoS Terminals

Venezuelans will now be able to use bitcoin to pay for goods and services at more than 20,000 point-of-sale (PoS) terminals throughout the struggling South American country. This follows a deal between Panamanian crypto exchange Cryptobuyer and local payments processor Mega Soft to connect some of Venezuela’s biggest retail chains for this purpose. Stores that …

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From Buenos Aires to Beirut – Covid-19 Excuse Restricts Millions of Citizens from Withdrawing Their Own Money

The coronavirus and the government-induced lockdowns have wreaked havoc on the global economy and millions of people can’t access their own money. Reports from financial stricken areas like Venezuela, Argentina, and Lebanon show that citizens are being stopped from accessing their own hard-earned savings. The news shows the great importance of censorship-resistant money and how …

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