Financial technology

Interior Minister Süleyman Soylu has said that Türkiye is waiting for Faruk Fatih Özer's extradition, who was arrested by Albanian police for defrauding investors in his cryptocurrency platform Thodex.

Elbasan prosecutor Kreshnik Ajazi confirmed to BIRN on Tuesday that fugitive Turkish Faruk Fatih Ozer, suspected of staging a massive cryptocurrency scam, is being held in the Albanian city, saying that "he was arrested today in Elbasan".

Amazon Web Services has launched AWS FinTech Accelerator, an equity-free program that aims to identify, engage, and support the growth of high-potential FinTech startups.

Istanbul's beloved stray dog, Boji, has inspired a cryptocurrency project aimed at helping stray animals as a portion of the transaction fees obtained from the cryptocurrency released under the name Boji Token is donated to shelters as dog food.

Recent upheaval in the cryptocurrency markets shows the sector is subject to similar risks as conventional investments, underscoring the need for regulation to protect against the "false allure" of a quick profit, Federal Reserve Vice Chair Lael Brainard has said.

Bitcoin is up around 1% in 24 hours to $20,400. Ethereum added 3.2%, while other top 10 altcoins gained between 0.7% (Dogecoin) and 2.8% (XRP). Buyers have braced themselves on the back of positive stock indexes despite the strengthening Dollar. 

Starting with the lofty goal of competing with traditional banks, cryptocurrency lending giants and their clients now face financial ruin due to their appetite for risk and a paucity of regulatory guardrails.

A Turkish fintech firm, Param has announced that its first ever investment round valued the company at over $200 million.

The round is subscribed to by institutional investors CEECAT Capital, the European Bank for Reconstruction and Development (EBRD), Alpha Associates and Revo Capital, the company said in a statement.

The fintech company has launched a competition for developers to win a trip to the vast expanse

New York lawmakers have passed a milestone environmental measure designed to tap the brakes on the spread of cryptocurrency mining operations that burn fossil fuels.

Both supporters and opponents say that the closely watched bill, approved early Friday by the state Senate, is the first of its kind in the U.S.