The Thodex founder fled the country in 2021 only to be detained in Albania in August 2022 and extradited to Türkiye in April 2023.
11,196 Years Jail Sentence for Faruk Özer, CEO of Collapsed Turkish Crypto Exchange Thodex
Faruk Fatih Özer, the founder of the collapsed Turkish crypto exchange Thodex, his sister Serap Özer and his brother Güven Özer have been sentenced to 11,196 years, 10 months and 15 days in prison.
Lira-Backed TRYB Token Becomes World’s Second-Largest Non-Dollar-Pegged Stablecoin
The market cap of BiLira’s TRYB token has increased more than 300% to $136.10 million, the second-highest among non-U.S. dollar-pegged stablecoins.
Islamic finance and Web3 take stage at Istanbul Blockchain Week
Istanbul Blockchain Week made some necessary modifications this year to reflect the change in the overall crypto market.
Thodex CEO sentenced to Turkish prison for failure to submit tax documents
Faruk Fatih Özer failed to submit the requested documents to the Tax Inspection Board. He denied being Thodex’s official at the time, which prevented him from presenting the requested books.
How could the Chinese economic crisis impact Bitcoin and crypto?
Cointelegraph analyst and writer Marcel Pechman explains how China’s economic weakness and Turkey’s interest rate hikes could impact the cryptocurrency market.
Crypto adoption is booming, but not in the US or Europe — Bitcoin Builders 2023
At the Bitcoin Builders Conference, Daniel Fogg from IOV Labs and Rootstock spoke with Cointelegraph about how emerging markets are shaping the future of the crypto space.
Collapsed Turkish Crypto Exchange Thodex’s CEO Faruk Özer Extradited, Arrested in Istanbul: Report
Faruk Fatih Özer, the founder of Thodex, one of Turkey’s largest crypto exchanges, facing charges of fraud and running a criminal organization, has been extradited to Turkey and was detained by police upon arrival in Istanbul.
Founder of collapsed crypto exchange Thodex detained in Turkey
Founder and former CEO of Thodex is finally brought to Turkey after two years since the exchange halted operations.
Paxful co-founders’ litigation cites misappropriation of funds, money laundering, U.S. sanctions evasion
A bitter dispute between Paxful’s co-founders in Delaware courts may have led to the crypto marketplace’s sudden closure.
Crypto donations amplify speed and global reach during crisis
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US Judge Approves Removal of FTX Turkish Units From Bankruptcy Case
FTX had asked the court to greenlight the dismissal after Turkish authorities ordered the seizure of most of the crypto exchange’s assets in the country.
Vitalik Buterin donates $227k to help earthquake victims in Turkey
The Ethereum co-founder has sent around $227,000 in ETH to two Turkish earthquake relief organizations.
Web3 community unites for Turkish–Syrian earthquake victims: Finance Redefined
The Web3 ecosystem came together to offer all possible help and aid to the victims of the Turkish-Syrian earthquake — one of the worst natural disasters in recent history.
Turkish automaker Togg onboards Metaco for crypto custody and governance
The partnership with Metaco will see the use of its digital asset custody and orchestration platform, Harmonize, to safeguard the custody and governance of Togg’s digital assets.
Türkiye to use blockchain-based digital identity for online public services
Shortly after the Turkish central bank completed the first CBDC tests, Türkiye announced a blockchain-based digital identity application.
Survey Reveals Turkey is Highly Obsessed With Crypto, Especially Dogecoin
The entire crypto industry has been experiencing a winter since the last quarter of 2021. Some cryptocurrency prices experienced a massive price slump, with many declining over 65%. However bad things may look, crypto may not go extinct as its popularity has not reduced.
A recent study by CryptoManiaks, a crypto education platform, shows that Turkey and the Netherlands ranked top in cryptocurrency awareness. As per the survey, 5.5% and 8.2% of the population in Turkey and the Netherlands searched for crypto-related terms. Turkey accounted for 4.7 million searches, topping the chart with large numbers.
Turkey has made tremendous improvements in crypto adoption since the beginning of 2022. A 2022 research by the Turkish crypto exchange Paribu estimated that at least 8 million people in Turkey engaged in crypto. Turkish President Recep Tayyip Erdogan spoke about the benefits of blockchain innovations. In his statement, Erdogan added that Turkey wants to be a producer of digital assets, not a consumer.
DOGE Outranks Ether In Terms Of User-Curiosity In Turkey
The latest CryptoManiaks study analyzed the number of searches for some selected cryptocurrencies. They represented the number of cryptocurrencies as a percentage of the population for each country to calculate the monthly local searches.
Turkey ranked second in the overall study and first with 812,000 monthly searches related to Dogecoin. According to the survey, the number of searches for Dogecoin doubled that of Ethereum, the third most searched crypto in the country.
CryptoManiaks’ spokesperson commented on the rising Dogecoin curiosity over the last 12 months. He said Dogecoin’s popularity has significantly exceeded Ethereum’s, with almost 2 million monthly searches worldwide.
DOGE became popular after Elon musk revealed plans to make it the official token for Twitter monetization. As a result, the memecoin’s price soared to an all-time high within the week of the complete official acquisition of the social media platform by Elon Musk.
The survey didn’t feature only DOGE and Ethereum. It also featured Solana, BNB, Bitcoin, and others. After Turkey and the Netherlands, Canada, Germany, and the Czech Republic followed in ranking.
Bear Market Didn’t Cripple People’s Interest In Crypto
Although the United Kingdom and the United States are top global players in the cryptocurrency industry, none ranked in the top. That is because the number of searches is insignificant compared to their population sizes. For example, the United States ranked 15th, with 1.9% of its population searching for crypto-related terms, whereas the United Kingdom took the 12th spot with 2.6%.
Recent research by Cointelegraph also showed that the bear market did not affect the interests of several institutions in the Crypto industry. According to the report, top institutions are still interested in the cryptocurrency industry and continue to invest millions in crypto-related projects.
Turkey has an obsession with crypto — specifically Dogecoin: Study
A new study reveals Turkey in second place for crypto-related searches worldwide and first place for Dogecoin-related searches.
Turkey seizes FTX assets in the country amid the ongoing investigation
Turkey’s Financial Crimes Investigation Board has seized assets belonging to Sam Bankman-Fried after launching an investigation into FTX’s affairs in the country.
The FTX collapse not enough to break crypto community’s spirit: IBW 2022
Istanbul Blockchain Week was held in Turkey, and Cointelegraph attended to experience the impact of the FTX collapse firsthand — the result was unexpected.