Coinbase, one of the leading U.S.-based cryptocurrency exchanges, has officially withdrawn from the Turkish market and filed for liquidation.
This decision marks a significant shift in the country's crypto landscape and follows the trend of other firms like QNB Digital Assets and Finceptor requesting liquidation.
While some crypto firms exit Turkey, others like Yapi Kredi and BtcTurk are ramping up their custody service applications.
Turkey, ranking fourth in the world by trading volume, has seen a wave of liquidations in the market, with Coinbase being one of the 14 firms to file for liquidation.