Discover and read the best of Twitter Threads about #lebanesecurrencycrisis

Most recents (1)

๐Ÿšจ๐Ÿ‡ฑ๐Ÿ‡ง #Lebanon Currency Crisis Explained ๐ŸŒ๐Ÿ’ธ:

Personally, I've been seeing very little coverage as of late on #Lebanon's currency crisis and its relation to #Bitcoin. So figured I'd do some research and share what I learned!

A Thread ๐Ÿงต๐Ÿ‘‡

1/

2/ Lebanon's currency crisis has been unfolding for years. The central bank defaulted on its IMF loan for the 1st time ever, revealing they didn't have depositors' assets on hand.

This started a bank run, leading to strict withdrawal limits. ๐Ÿ’ฐ๐Ÿ“‰
3/ This largely stemmed from decades-long government corruption & mismanagement. Leading to massive public debt, currently over $100 billion.

The Syrian Civil War has also had a devastating impact on Lebanese economy. Refugees flowing into LB put a large strain on its resources
Read 8 tweets

Related hashtags

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!