Nicolas Maduro re-elected as Venezuela's president amid mixed reactions

Nicolas Maduro has been declared winner of the presidential race in Venezuela. Although the opposition also claimed victory, Maduro's government says he received 51% of the vote, while opposition candidate Edmundo Gonzalez got 44%. However, these results are based on 80% of polling stations

Maduro's government had previously tried to ease economic problems with crypto reforms. In February 2018, Maduro pegged the Venezuelan bolivar to the Petro (PTR), a state cryptocurrency allegedly backed by oil reserves

He stated that 3,600 new bolivars would be equivalent to one Petro, valued at $60. Success was relative and the Petro cryptocurrency ceased to exist in January 2024 after a series of corruption scandals and financial irregularities


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