Venezuela ties its currency to a state-run cryptocoin

Venezuela has just taken drastic and unprecedented steps to stabilize its currency as it grapples with hyperinflation and other economic issues. The country’s currency has not only been massively devalued and renamed, but is now tied to a state-issued cryptocurrency called the Petro, which itself fluctuates based on oil prices. Hardly anyone knows what to expect out of this.
The Petro is not new; it arrived earlier this year in the form of a stepped offering to private and then public buye