Futurism | Venezuela Set to Launch Its Own Oil-Backed Cryptocurrency Futurism Beyond oil, the crypto will additionally be backed by Venezuela's oil, gas, gold, and diamond reserves. While the move has been referred to as a “hail mary” stunt by some, the country's Communications Minister Jorge Rodriguez is confident that the ... Venezuela probes ex-oil czar Ramirez over alleged graft scheme Venezuela To Launch Oil-Backed Petro Cryptocurrency Within Days Venezuela plans cryptocurrency backed by oil reserves |