As Maduro’s power hangs in the balance, what will happen to Venezuela’s crypto asset?6

Venezuela’s opposition leader, Juan Guaidó, has announced himself the country’s Interim President in a bid to oust the ruling head, Nicolás Maduro, who many blame for the ongoing financial chaos in the South American nation. Maduro’s fate is yet to be decided as the world’s most powerful nations stand divided over the leadership struggle: Russia vowed to defend Maduro, while the US Government has declared their support for Guaidó.

But if Guaidó succeeds, the future of the controversial Venezuelan cryptocurrency, the Petro, is uncertain. His party has long been a vocal critic of the Petro, allegedly backed by a barrel of crude oil per coin, claiming it is nothing more than another way for Maduro’s government to exploit the public.

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