Following sharp losses in the cryptocurrency market, Turkish investors have launched a boycott campaign against Binance Global, the world’s largest crypto exchange. The hashtag #Binanceboykot quickly surged to the top of X (formerly Twitter) trends in Turkey.
Many users claim they were unable to trade or withdraw funds during Friday night’s historic market crash, when several cryptocurrencies lost more than 50% of their value. Binance CEO Richard Teng apologized for the technical issues, promising improvements to the platform.
Co-founder Yi He said Binance would compensate verified losses caused by system failures but not for market-related declines. The backlash has reignited debate in Turkey over the need for tighter regulation and stronger investor protections in the fast-growing crypto sector.
