Study Exposes How Russia, Iran, & China Are Weaponizing Crypto

It’s no secret that foes of the United States – including Venezuela, Iran, Russia, and China – are experimenting with cryptocurrency technology as they seek to render their economies immune to crippling US sanctions. However, a new study from the Foundation for Defense of Democracies (FDD) exposes the lengths to which these rogue nations are …

US Sanctions Squeezes Russia’s 3rd Biggest Bank into Freezing Venezuela Oil Firm’s Accounts

Russia’s third-biggest bank by assets Gazprombank has elected to freeze the bank accounts belonging to Venezuelan state oil firm Petróleos de Venezuela, S.A. (PDVSA), Reuters reports. Citing sources, the report indicated that the state-owned lender did so to lower its risks of coming under U.S. sanctions. Alongside China, Iran, Turkey and other countries, Russia is …

KFC Venezuela Accepts Dash Cryptocurrency, Joining Subway and Papa John’s

KFC in Venezuela is accepting payments using the cryptocurrency Dash starting this week, joining a growing list of fast-food chains that accept crypto in Venezuela, including Subway and the Papa John’s pizza chain. KFC will initially roll out the program at its store in the Venezuelan capital of Caracas before expanding to 24 other locations across …

Bitcoin Trading Volumes in Venezuela Reach Record Highs amid Hyperinflation

As the economic crisis in Venezuela worsens leading to a growing exodus of citizens out of the country, the demand for bitcoin and other cryptocurrencies has exploded. According to Coin Dance, Venezuelans traded bitcoins worth nearly 300 million bolivars last week and the record could be broken again as so far this week bitcoin worth …

Bitcoin Venezuela on Why the Petro Isn’t Even ‘Backed by Trust’

Randy Brito is the head of Bitcoin Venezuela, a non-profit organization dedicated to educate and promote Bitcoin in Venezuela. He is also spearheading the Locha project, which he describes as “an effort to push the needed developments and research for achieving the hyperbitcoinization in Venezuela.”  Brito also sees a use case for bitcoin in countries …

Coinbase Additions, Enterprise Patents, and Massive Hacks: This Week in Crypto

Make sure you check out our previous edition here, now let’s go over what happened in crypto this week. Also, make sure you subscribe for this weeks edition of The Bitcoin Podcast by CCN on iTunes or wherever you get your podcasts. Price Watch: Bitcoin fell nearly 8% this week after jumping above $6,800 early this week. The market …

Petro’s Impact Will Be Felt Within “Three to Six Months”

Join our community of 10 000 traders on Hacked.com for just $39 per month. During an interview with Venezuela’s Cuatro F newspaper, the executive secretary of the country’s Blockchain Observatory, Daniel Peña, stated that he believes the Petro (PTR), Venezuela’s oil-backed cryptocurrency, will positively impact the country’s economy within “three to six months.” During the …

Venezuela Thanks Trump’s Petro Ban for Doubling Investors

Join our community of 10 000 traders on Hacked.com for just $39 per month. The executive secretary of Venezuela’s Blockchain Observatory, Daniel Peña, recently did an interview for the country’s Cuatro F newspaper, in which he claims Donald Trump’s Petro (PTR) ban was free publicity for the oil-backed cryptocurrency. So much so, it allegedly helped …

Venezuela’s Petro Undermines Legitimate Cryptocurrencies

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. Brookings Institute analysts recently argued that Venezuela’s oil-backed cryptocurrency, the Petro (PTR), is likelier to harm legitimate cryptocurrencies like Bitcoin and Ethereum, than it is o help Venezuelan’s escape the recession the country is currently enduring. Through an article published on its …