Venezuela’s Maduro Announces 18-Fold Increase to Minimum Wage, Pegged to Official Cryptocurrency

Mar 4, 2022

According to a Bloomberg report, Venezuela President Nicolas Maduro announced a 18-fold increase in Venezuela’s monthly minimum wage to roughly 126 bolivars ($28) by pegging it to the value of half a petro, the government’s cryptocurrency being the petro (PTR).

Up Next

20:26

What On-Chain Access for AGI Unlocks

Apr 10, 2024

15:12

NEAR Launches Multichain Access

Mar 28, 2024

00:56

How NEAR Enables Multichain Access From One Account

Mar 28, 2024

01:28

Moondance Labs CEO on 'Barriers of Entry' for Building Layer 1s

Mar 27, 2024

18:57

Appchain Protocol Tanssi Raises $6M

Mar 27, 2024

View all

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to coindesk.consensus.com to register and buy your pass now.