Venezuela considers offering deep discount in petro

Advisers to the Venezuelan government are recommending it sell $2.3bn of its new cryptocurrency, the petro or petromoneda, in a private offering at a discount of up to 60 percent, according to a document reviewed by Reuters. The Venezuelan government is pressing ahead with an attempt to capitalize on the success of cryptocurrencies like bitcoin by creating one for Venezuela as its traditional currency, the bolivar, plunges to all-time lows against the dollar and the country struggles with hyperinflation. More…