01-06-2018: Venezuelan Petro Cryptocurrency Worth $5.9B

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Summary: Markets as of 01-06-2018 3PM PST ($USD): BTC $17,653, ETH $1,049, & LTC $297. Key Updates: (1) Venezuelan President Nicolas Maduro announced 100 million units of its Petro cryptocurrency would enter the market. (2) Two Ethereum Foundation members living in Brazil have collaborated with a Brazilian legislator to use the blockchain in an effort to streamline the nation’s unique petition process. (3) Merrill Lynch has banned its over 17,000 financial advisors from buying Bitcoin-related investments for their clients. (4) China has cut back on its energy production in the last year due to a surplus in their energy grid. (5) Long Island Iced Tea, is investing in Bitcoin mining machinery.