Turks turning to Bitcoin amid record inflation in 24 years

    As the Turkish lira has been losing its power, citizens have been turning to crypto. While Turkey’s annual inflation rate has reached 78.62%, the BTC volume of local P2P trading has increased significantly in Q1 and Q2 2022, compared to Q4 2021. According to data from the Turkish Statistical Institute, Turkey’s inflation rate has hit…

    Istanbul to hold the 4th Blockchain Economy Summit on July 27-28

    After 2 years of the Covid-19 pandemic, Blockchain Economy Summit is again back in Istanbul on July 27-28, 2022. The event will bring together more than 3,000 participants from 55 countries around the world to discuss the future of finance, Web3, NFTs, Metaverse, DeFi, regulation of the crypto sector, the implementation of blockchain technology in…

    As Turkey’s inflation surges to 36%, citizens turn from the lira to stablecoins

    Turkey’s economy remains in turmoil with inflation rising to 36%, and since this time last year, the country’s currency has lost 44% of its value against the US dollar. Meanwhile, the use of stablecoins in Turkey has skyrocketed, and today, 28.96% of all trades with Tether (USDT) are paired against the Turkish lira. Reports from…

    Erdogan versus Bitcoin

    After a sweeping ban on the use of cryptocurrencies this April, Turkish President Recep Erdogan is aiming to assert financial control ahead of launching the digital Lira. Although the central bank is not opposed to using digital currency, Erdogan believes the digital Lira faces conflict with cryptocurrencies. During a national youth meeting with representatives from…

    Crypto adoption in the Middle East first comes from citizens of unstable countries

    The next wave of crypto adoption in the Middle East is likely to come from citizens in unstable countries facing crucial inflation like Iran and Lebanon. While some countries continue to restrict crypto trading and mining, digital transformation in the Middle East has proceeded at a rapid pace. Nimrod Lehavi, the founder of Simplex and…

    Turkey and its crypto inconsistency

    Though not one of the Gulf states, Turkey is a Muslim country with a significant influence over the entire region. And therefore, the cryptocurrency-related events there are also very important for all blockchain projects in the Middle East. On July 19, the Turkish Ministry of Treasury and Finance announced that the cryptocurrency bill is ready…