Turkey considers crypto regulation following the collapse of two exchanges

The global crypto market cap is $2.04 trillion with a 24-hour volume of $139.62 billion. The price of Bitcoin is $52,771.42 and the BTC dominance is at 48.4%.

⚡️ Access more crypto insights in every article as a member of CryptoSlate Edge. Learn more

by Liam Frost

Turkish authorities are planning to start regulating the cryptocurrency space in the country after two local crypto exchanges allegedly conducted an “exit scam” within a week, as per a report on business news outlet Bloomberg yesterday.

As CryptoSlate previously reported, major Turkish crypto exchange Thodex, which held at least $2 billion worth of its users’ crypto in custody, has abruptly stopped all operations last Wednesday. Local police officers later detained 62 people across eight provinces in connection to an ongoing investigation while the exchange’s CEO reportedly fled the country.

Read the full story here ➡️


Ad 📈 Earn 8% APY on Bitcoin & 9 more crypto assets and 12% on Fiat & Stablecoins. Compounding interest, paid out daily.

Start Earning Interest with Nexo


More news ⏬

US bank BNY Mellon blames “no exposure to Bitcoin” for fund underperformance

US bank BNY Mellon says one of its technology-focused funds had underperformed the market because it wasn’t exposed to companies investing in Bitcoin, a filing from yesterday showed.

2 min read →

Cardano (ADA) jumps 8% in 24 hours, but what does on-chain sentiment data show?

ADA, the native token of smart contract platform Cardano, jumped 8% in the past day amidst rising public sentiment for the broader ecosystem, data from multiple sources showed.

2 min read →

Kurt Cobain’s last photoshoot to be auctioned off as NFT—but not everyone is pleased with the move

On May 3, photographer Jesse Frohman will launch an auction for over 100 images from the last photo session with legendary Nirvana frontman Kurt Cobain—all in the form of a non-fungible token (NFT).

2 min read →

Ethereum competitor Solana kicks off ‘hackathon’ with $1 million in prizes

The Solana Foundation, a non-profit organization dedicated to supporting and growing the high-speed blockchain today announced it will be launching a global hackathon focused on Web3, DeFi, and NFT solutions.

2 min read →

Data shows “whales” are buying XRP as public sentiment increases

Even since the United States Securities and Exchange Commission (SEC) filed a lawsuit against Ripple for an unregistered securities offering in late December 2020, some investors have expressed their fears about XRP.

2 min read →

Inside the Solana hype and why prices of Bonfida, Serum, and Raydium are surging

While the crypto market plunged by several percent last week, a sliver of coins running on the Solana ecosystem remained in the green, data from several sources shows.

3 min read →

‘Bitcoin is not a hedge against anything,’ concludes ‘Black Swan’ author Nassim Taleb

Bitcoin (BTC) is not “a hedge against anything,” concluded “Black Swan” author and risk analyst Nassim Nicholas Taleb after inviting his 727,000 Twitter followers to debate on whether there is any correlation between BTC and inflation.

3 min read →

Balancer teams up with Gnosis to develop a ‘gasless’ Ethereum DEX

Balancer Labs, a leading automated market maker (AMM) within the Ethereum ecosystem, has teamed up with Gnosis to develop a new decentralized exchange (DEX).

2 min read →

Young Koreans hooked on Bitcoin trading sparks “crypto addiction” fears

An article today from the leading South Korean newspaper Chosun Ilbo detailed the phenomenon of obsessive Bitcoin tracking and mentioned the impact of price fixation on the lives of young Koreans, even to the point of interfering with their work commitments.

2 min read →


Talking Bitcoin, ICOs, and Ethereum DeFi with ‘The Defiant’ founder Camilla Russo

Few individuals make the career switch from a “steady” mainstream financial news publication to writing a book on the “risky” crypto space.

We’re talking about Camilla Russo, the rockstar author behind cult favorite “The Infinite Machine”—an account of Ethereum’s “past, present, and likely future.”

Watch video & learn more


Control your wealth

Ad: A trusted and accessible wealth management ecosystem powered by blockchain technology, SwissBorg puts your wealth back in your hands.

Download the SwissBorg App


🔥 Trending Sectors


Crypto market data

For more pertinent market data, please see:


Connect with us


Disclaimer: None of the content in this newsletter is meant to be financial advice. Please do your own due diligence before taking any action related to the content within this article.