Trezor Wallet Denies Connections With Maduro’s Endorsement

Trezor Wallet denies any relations with Venezuela after President Nicolas Maduro gave an unexpected endorsement to the crypto platform as we are reading further in the blockchain news today.

SatoshiLabs, the creator of Trezor hardware wallet, distanced itself from any connections to Maduro’s government and the regime in Venezuela. There was an 18-minute speech during a TV Segment on crypotcurrencies which was shared on Maduro’s Facebook page and he met a representative from a company called Trezorvenezulea who gave the president a Trezor hardware wallet as a gift. Maduro responded by holding the device in his hands and pointing it to the camera and sharing his approval.

SatoshiLabs responded by issuing a statement claiming that the company has no official representatives in Venezuela and distanced itself from TrezorVenezuela claiming that they have nothing to do with it and that this could also become a problem of copyright violations. Trezor wrote in an official statement:

“We’re in no way associated with those people claiming to be official representatives of Trezor, and do not endorse or permit their use of our brand. We are carefully investigating this copyright infringement. These individuals were authorized resellers of Trezor based on a mutual agreement made in Q3 2018. We removed this reseller from the list of our authorized resellers in June 2019 due to inactivity.”

Trezor admitted that have about 150 trezor One wallets to the ‘’good friends’’ in the Bitcoin Venezuela organization but none of the devices were among the people presented before Maduro. They also stated:

“We would like to highlight our stance towards the political situation in Venezuela. Trezor and Satoshilabs do not associate with any political figure, serving or retired, in Venezuela or in any other region.”

Maduro is believed to run a ‘’rogue state’’ as many called it and the country has been hard hit after America imposed sanctions and the country decided to launch the Petro token. Some of the readers may recall that Maduro has reportedly amassed Bitcoin and Ethereum holdings from trade deals that were conducted in cryptocurrencies which led one Twitter user to say that Maduro is ‘storing his nation’s sovereign wealth in Bitcoin in a Trezor.’’ This is also one of the reasons why the Trezor wallet denies all connections to Maduro and his government.