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Venezuela has officially launched the sale of its commodity-backed cryptocurrency, the petro. The coin is meant to be a workaround to avoid sanctions against Venezuela’s official currency, the bolivar, which has been rocked by hyperinflation.
Here’s what you need to know in crypto today:
- Bitcoin is back above $11,000
- Elliott Management, a $34 billion hedge fund, described cryptocurrencies as ‘one of the most brilliant scams in history‘ in a brutal takedown
- Ex-JPMorgan trader turned bitcoin fund manager: ‘There’s trench warfare going on between analogue and digital financial services’
- Litecoin cash officially forked over the weekend. Here’s what you need to know.
- The iced tea company that pivoted to blockchain is spinning off its beverage business as it once again risks being delisted
- Tesla’s Amazon cloud account was hacked and used to mine cryptocurrency
- Criminals are reportedly abducting the ‘cryptorich’ to steal their Bitcoin
- Poland’s central bank is reportedly funding a YouTube ‘smear campaign’ against cryptocurrencies
- S&P: Warnings that cryptocurrency could crash the global financial system are ‘much ado about nothing’
- Ethereum founder warns cryptocurrencies ‘could drop to near zero at any time’
- Bank of England’s Mark Carney: Bitcoin has ‘failed’ one of its key aims
- This new video game will offer one whole bitcoin to the first person who solves its ‘mind bending’ puzzles
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