BTCTurk CEO Kerem Tibuk made a statement emphasizing the stance of the stock market on the “decentralization” discussions that flared up with the collapse of FTX Global and the re-entry of Binance.
Perhaps the most important starting point of the blockchain technology underlying cryptocurrencies is the issue of decentralization. So, are the stock markets, which are gradually turning into a large and centralized structure, causing a contradiction?
After Binance CEO CZ announced the principles emphasizing “transparency”, it has been on the agenda many times before in the crypto money world. “decentralization” The fuse of their discussion was re-ignited. The last event that caused these discussions to come up again; FTX Global, one of the world’s largest stock exchanges, which officially started to serve in Turkey in December 2021, went bankrupt.
This step was taken when Binance CEO CZ said they wanted and would buy FTX. “monopoly on a decentralized infrastructure” interpreted as the concept. With the statements made by BTC Turk CEO Kerem Tibuk on Twitter, a stock exchange from Turkey also joined the discussions.
CEO Kerem Tibuk was involved in the discussions with a series of posts where he explained BTC Turk’s approach:
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What do these statements mean when we put BTC Turk’s name aside?
Kerem Tibuk is not only explaining BTC Turk’s approach with these explanations. It also severely criticizes the activities of some of the world’s most established stock exchanges. For example, he argues that it is wrong for a high-volume stock market to use this power and its customer portfolio – to list any crypto money in exchange for money.
In other words, it is stated that the stock markets, which have become centralized and have a capital power, actually use this power to direct the masses in order to make profit. In such a case, it is argued that exchanges contradict the proposal of a “decentralized alternative economic model” underlying cryptocurrencies. On the other hand, BTC Turk, although it has the sensitivities of CE Kerem Tibuk’s statements, is actually a centralized structure.
You can state your thoughts on these statements of Kerem Tibuk in the comments section.