Cryptocurrency Analysis and News Portal
At the Plan B Forum in Switzerland, Rikki and David from the Bitcoin Explorers Project shared their observations on cryptocurrency adoption in Turkey and Lebanon, countries currently grappling with severe inflation. Crypto in Turkey Rikki described the rampant inflation plaguing Turkey, with prices rising 60% annually, according to official statistics, and possibly
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There is a significant worldwide contrast in household electricity expenses for individual Bitcoin (BTC) miners. While producing one Bitcoin in Italy costs $208,500, in Lebanon, it’s roughly 783 times cheaper, according to a recent report.Published on Aug. 17, CoinGecko’s report revealed that only 65 countries are profitable for solo Bitcoin miners, based
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On Dec. 17, reports detail that residents in Lebanon have been staging sit-ins and protests at banks in order to access their own savings accounts. Since the economic collapse in 2019, Lebanon’s banks froze Lebanese bank accounts, and a number of branches have remained closed indefinitely. The deprivation of wealth
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As political leaders in crisis-hit Lebanon bicker over positions in the yet-to-be-formed government, the country’s runaway inflation rate surged to 211% in May 2022, new data has shown. Economist Steve Hanke insists that a currency board is a solution to Lebanon’s currency woes. Black Market in Fuel Driving Inflation The inflation
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The Lebanese government is reportedly planning to devalue the local currency by up to 93% in a desperate bid to receive funding from the International Monetary Fund (IMF). As part of the plan, a major portion of foreign currency deposits in the banking system will be converted into local currency
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Central bankers hope the CBDC will help restore confidence in Lebanon's shaky banking sector. Source
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Cryptocurrency does not appear to be a significant trend in terror financing in the Middle East, but a new round of U.S. sanctions aimed at Syria may tip the scales in favor of experimentation. On Wednesday, Hezbollah leader Hassan Nasrallah said U.S. sanctions against his Syrian ally President Bashar al-Assad are
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Bitcoin (BTC) is not what young investors should buy after the coronavirus crash, says the man who once said that the biggest cryptocurrency faces an “inevitable death spiral.”Speaking to CNBC on May 21, Peter Mallouk, president and chief investment officer at wealth management firm Creative Planning, claimed that stocks and
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With Lebanon’s currency hitting new record lows of 4,000 Lebanese lira (LBP) per $1, chaotic prices are being listed by Lebanese Localbitcoins traders.As of this writing, spreads between listings on both sides of the order book appear to exceed 90%, leading to reports claiming that Bitcoin (BTC) is trading for
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Mass unrest in Lebanon due to allegations of political corruption and heavy handed capital controls has carried over into the new year,
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