Economy

Crypto Market tops $2 Trillion for the First Time in Nearly 3 Months as Bitcoin Rallies

Bitcoin topped $48,000 over the weekend, its highest level since mid-May but pared some of those gains on Monday. On Saturday, the digital coin hit $48,126.47, its highest level since May 17, according to Coindesk data. Around 2:49 a.m. ET on Monday, bitcoin was trading at $47,442.40. The bitcoin recovery comes after it sold off heavily in June and July, even dropping below $30,000 following a record high of over $64,000 in April.

BDL Asks Banks Not to Impose New Terms on Circular 158

The Central Bank on Friday asked Lebanese lenders to stick to the conditions of Circular 158 only and not to add new clauses and conditions in the contract with depositors who should benefit from the new decision. BDL’s statement was released after a number of complaints from depositors who said that their banks have added clauses in the contract that makes it very difficult for the clients to withdraw $400 a month plus the equivalent of $400 in Lebanese pounds at the platform’s rate of LL12,000 to the dollar.

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