Connect with us


Can Turkey Become the Next Hub for Cryptocurrency?

Avatar Of Rajesh Khanna



Can Turkey Become The Next Hub For Cryptocurrency?
  • The Turkish Finance Minister discussed with CZ, about blockchain and cryptocurrency
  • Last year, Turkish authorities fined Binance with 750,000 dollars.

On Wednesday, the Turkish Finance Minister Nureddin Nebati, virtually connected with Changpeng Zhao, the CEO of the Binance exchange platform. As per the tweet from Nebati, the recent discussion with CZ was about the cryptocurrency and blockchain ecosystem.

At the same time, the meeting was held in the middle of reports that Turkey’s cryptocurrency market may soon be regulated. 

Turkey’s Perception about Crypto 

According to reports, Binance has a lot of users in Turkey and the country is Binance’s most important traffic source. Recently, the exchange platform launched its first customer service center with 24/7 support in Turkey. 

Binance is aiming to prevent fraud cases from even starting in the first place. In the previous year, Binance was punished with a maximum $750,000 fine by Turkey’s Financial Crimes Investigation Board (MASAK) for breaking the nation’s new regulatory rules. 

Turkey has a great number of cryptocurrency users. To avoid inflation, the current generation is using digital assets instead of fiat currencies. According to Turkish financial consultant, Vedat Guven, there are over 5 to 6 million Turkish people with cryptocurrency accounts. In the wake of, ‘let’s-get-rich-fast’ mentality is also creating the rise of cryptocurrencies in the nation, as per Guven.

He stated:

The trading volume in the cryptocurrency market is high in Turkey, the demand is high. because we are looking to protect our money from high inflation and high-interest rates.

Local cryptocurrency exchanges are also tremendously growing in Turkey. BtcTurk, the first and largest crypto exchange in Turkey, has introduced Bitcoin to the nation. Currently, the trading platform has nearly 5 million users. Additionally, another local Turkish exchange platform named, Paribu, had a trading volume of $203.5 million. In addition to BtcTurk and Paribu, 40 more local cryptocurrency exchanges are functioning in Turkey. 

Recommended For You



#WeAreUkraine NFT Collection Launched For Ukraine

Avatar Of Rajesh Khanna



#Weareukraine Nft Collection Launched For Ukraine

Miami, USA (August 10, 2022) – The newly formed DIG Foundation’s first philanthropic venture is #WeAreUkraine, an exclusive NFT collection to benefit Ukraine, launched in partnership with leading international charities Save the Children and Women for Women International. 

Established by Dubai’s Decentralised Investment Group (DIG), a multinational blockchain technology conglomerate making impactful changes through blockchain technology, the DIG Foundation is a charitable non-profit empowering women and young girls by providing them with cutting edge STEM education, so they may thrive in a growing digital economy.

For its first charitable venture, DIG Foundation has partnered with Ukrainian celebrity and champion of change Jamala, to create the exclusive NFT collection #WeAreUkraine. A singer and songwriter who rose to international stardom following her win of the 2016 Eurovision contest, Jamala will assume the role of campaign ambassador.

This charitable generative NFT collection of 14,850 NFTs – unique digital collectibles – will be available for purchase starting Wednesday, August 10 for 6 months, viewable on OpenSea. The collection features artist renditions of the most famous monuments and landmarks from Ukrainian cities. Three additional NFTs – video recordings of Jamala singing three Ukranian folk songs – will later be airdropped to random NFT holders, as a reward.

Seventy per cent of all proceeds raised will be equally distributed between two international charities partnering with the DIG Foundation: Save the Children and Women for Women International, with the remaining 30 per cent allocated for operating costs.

Full-scale war was launched on Ukraine on February 24, 2022, and since the invasion, over 7.1 million people have been internally displaced, according to the International Organisation for Migration. UNHCR reports that more than 5.9 million refugees have fled the country, mostly women and children. Destruction of infrastructure has been widespread, with several Ukrainian landmarks damaged, including the Kyiv TV Tower, Karazin Kharkiv National University and Antonov International Airport.

Haydn Snape, DIG’s CEO and Managing Global Partner, has been eager to get DIG Foundation off the ground and involved in charitable products that can make a lasting impact. “Blockchain technology can be used to make a difference, and to help those in need,” says Snape. “DIG invests in products and projects that instil the values of decentralisation, financial independence and individual liberty, and our Foundation will use these ideals to empower women and children to become the next generation of innovative Web3 leaders.”

Proceeds from the sale of the #WeAreUkraine NFT collection will help Save the Children continue working alongside local partners distributing food, water, hygiene items, psychosocial support and cash assistance to children and their families in dire need in Ukraine and the surrounding region. Save the Children is also establishing safe spaces for children where possible.

Ettore Rossetti, Head of Digital, Marketing, Innovation Partnerships & Web3 at Save the Children, says Save the Children have been supporting children and families in Ukraine since 2014 – almost as long as the organisation has accepted cryptocurrency donations. The global humanitarian organisation was the world’s first INGO to accept a bitcoin donation in 2013, in response to Typhoon Haiyan that devastated the Philippines. 

“Crypto donations are strengthening Save the Children’s work supporting children and their families impacted by the Ukraine crisis, and have enabled truly borderless giving. This is not only decentralising finance, but philanthropy as well,” said Rossetti. “Millions of children risk displacement, family separation, trauma and interruption of their education. By donating crypto to Save the Children, you hold on for dear life – or  ‘HODL’ – and hold hope for kids. Crypto donations and proceeds from NFT projects have become alternative funding streams for global emergencies we respond to like the conflict in Ukraine.” 

Sara Bowcutt, Managing Director at Women for Women International – UK, commented on this new partnership, saying: “Women often bear the brunt of war and conflict, and DIG Foundation’s donation will help us address their urgent needs. Through our Conflict Response Fund, we are providing critical psychological support, legal counsel and training so that women can better support themselves and their families – whether they are displaced in Ukraine or taking refuge in Poland, and helping women survivors who have faced unimaginable loss and trauma to rebuild their lives and find a way to move forward.”

Jamala, who received an award by the Atlantic Council for “Distinguished Artistic Leadership” this year, says she will do everything she can to raise awareness about her country’s hardship and her people’s plight. “I am proud to support this campaign and to raise awareness about it and my homeland. I will do everything in my power to spread the word about this unprovoked war that has claimed the lives of tens of thousands of Ukrainians already.”

The campaign is also being backed by Miss Ukraine Universe Bogdana Nazarova – a model and TV host who currently holds the Miss Miami US Nation title. 

Visit – 

Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

Continue Reading


Support For 100+ ERC-20 Tokens Added by Wallet 

Avatar Of Rajesh Khanna


on Lures Traders By Waving Off Bitcoin Spot Trading Fee