The number of days without institutional developments in the crypto money market is very few. The latest news on this issue came from Turkey. According to a claim, Akbank, one of Turkey’s largest banks, is preparing to buy a Bitcoin exchange. The incident, which allegedly came from 2 unnamed sources, caused great excitement in the Turkish crypto community. Here are the details…
Akbank can buy this Bitcoin exchange
Two sources, who brought up the related claim, spoke to a finance platform. According to two sources, Akbank wants to buy the Bitcoin exchange Stablex. In fact, negotiations between the two companies continue at full speed. However, sources claim that it is possible for the two companies to reach an agreement in the near future. However, they are abstaining on how big the deal will be. Accordingly, both sources chose not to comment on what the deal would cover. In other words, it remains unclear how much of Akbank’s crypto exchange Stablex can buy. If the claim is true, Akbank can buy all or part of the Bitcoin exchange.
In fact, the interaction between the BTC exchange and Akbank is nothing new. In fact, the first interaction appeared in May of 2021. The incident concerned Turgut Gunay, who worked as the COO of Akbank between 2011 and 2017. Gunay, who started working at Akbank as Assistant General Manager in 2011, decided to leave his job in 2017. Turgut Gunay started working as the CEO of Bitcoin exchange Stablex in May 2021. Therefore, it is quite possible that the relationship between Gunay and Akbank is behind the allegations.
Cryptocurrency adoption on the rise in Turkey
According to the latest reports, there are over 8 million users who trade with cryptocurrencies in Turkey. However, the number of people who heard about cryptos increased by 11% compared to 2021. Not only that. The number of people who find cryptocurrencies profitable is also increasing every year. This is important because it signals broad adoption. In addition, cryptocurrencies in which Turkish investors invest their funds are also noteworthy. Among the favorite cryptocurrencies of crypto investors in Turkey, Bitcoin is the leader. Bitcoin is followed by altcoin projects such as Ethereum, Dogecoin, Tether and BCH.
Cryptocurrencies are finding a large investor base, especially in developing countries. People living in these countries see cryptocurrencies as a way of earning income and protecting against inflation. They are not wrong to think so. cryptocoin.com As we reported, a trader who invested $8,000 in Shiba Inu in 2020 is living as a billionaire today. However, the high volatility of cryptocurrencies can also cause many people to lose their savings.
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