2022 saw the fall of many linchpin crypto and blockchain firms as the May market drawdown shook the industry. It caused many cryptocurrencies to lose value and many investors to pull their money from the market. Furthermore, the unprecedented knock-on effects of the meltdown exposed many blockchain and cryptocurrency firms that were ill-prepared for turbulent times. However, a collective of companies was able to resist negative market forces and grow amidst the turbulence. The crypto market as a whole continues to grow and has now reached 320 million users. As we look back on a year full of surprises, we …

Pharmacies in Ukraine are embracing digital payments amid the ongoing war, with a major local pharmacy chain enabling payments in cryptocurrencies like Bitcoin (BTC). ANC Pharmacy, one of the biggest pharmacy chains in Ukraine, has partnered with Binance Ukraine to debut cryptocurrency payments via contactless crypto payment service Binance Pay. Starting from Jan. 3, ANC Pharmacy enabled its customers to proceed with instant payments while purchasing pharmacy products online, the pharmacy chain officially announced on Tuesday. ANC Pharmacy operates more than 1,000 pharmacies across Ukraine, running its own online pharmacy service. According to an official announcement, Binance Pay payments will …

2022 was a watershed year for crypto venture capital, as investors poured tens of billions of dollars into blockchain-focused startups despite the overwhelmingly bearish trend in asset prices. Is the VC-dominated crypto funding model good for the industry? Only time will tell. Cointelegraph Research is still in the process of tallying all the funding figures for the year, but 2022 easily outpaced all other years in terms of total capital raised and deals completed. VC inflows were above $14 billion in each of the first two quarters before receding to just under $5 billion in the third quarter — still …

Business intelligence firm MicroStrategy is showing no signs of backing down on its Bitcoin gambit. Right around the time that Sam Bankman-Fried was being exposed as a fraud, MicroStrategy was scooping up more Bitcoin (BTC) — this time, the firm bought as close to the bottom as it’s ever gotten. While Bitcoin can always go lower, seeing a MicroStrategy buy around $17K is refreshing. Interestingly, MicroStrategy also sold some BTC earlier this month — but not for the reason you think (more on that below.) The final Crypto Biz newsletter of 2022 discusses MicroStrategy’s Bitcoin buy, Fidelity Investments’ foray into …

The collapse of FTX Group may not yet be the end of its contagious spread, as clawback provisions could force business and investors to return billions of dollars paid in the months leading up to the crypto exchange's collapse, an insolvency attorney told Cointelegraph. In short, a clawback refers to money paid out that is required to be returned due to special circumstances or events, such as an insolvent company that needs to recover funds paid within 90 days before filing for Chapter 11. If the creditor is an insider, the 90-day period is extended to one year. As a …

Bitcoin advocate Nic Carter has released an in-depth analysis of centralized exchange proof-of-reserves and ranked the attestations provided by some of the most prominent crypto trading platforms in the space. Carter published a detailed examination of the quality of several exchanges’ proof-of-reserves (PoR). The crypto executive used parameters such as attestation to assets held and a disclosure of liabilities, incorporating a third-party auditor, demonstrating credibility by taking a PoR for all assets and committing to an ongoing procedure to determine which PoRs are of the best quality. Crypto trading platforms Kraken and BitMEX topped the list. According to Carter, Kraken, …

Binance CEO Changpeng Zhao (CZ) warned his 8 million Twitter followers on Dec. 28 that he is “reasonably sure” that API key leaks are taking place at the cryptocurrency trade management platform. I am reasonably sure there are wide spread API key leaks from 3Commas. If you have ever put an API key in 3Commas (from any exchange), please disable it immediately. Stay #SAFU. — CZ Binance (@cz_binance) December 28, 2022 The disclosure by CZ followed an incident on Dec. 9, when Binance cancelled the account of a user who complained about losing funds a day earlier. That user claimed …

The severe winter storm in North America shut down Binance's cloud mining products between Dec. 24-26, according to an official announcement on Dec. 28. As a result of the power outage, the company announced that users' subscriptions to cloud mining products were extended for three days. Binance has noted that further outages as a result of the weather conditions will extend the duration of cloud mining subscriptions. The exchange's cloud mining service, launched nearly a month ago, allows users without mining equipment to earn mining rewards from Binance Pool. Subscriptions are required to buy hashrates and Bitcoin mining on Binance's …

More and more people are discovering Bitcoin (BTC) and other cryptocurrencies, which is good for the adoption of digital money on the blockchain. Interest in Bitcoin is also growing in Australia and companies are responding positively. For example, there are various ways to buy Bitcoin in Australia. Trading Bitcoin is more than just buying and selling. So, what is the best place to buy Bitcoin and what is the most secure way to store a Bitcoin investment? Discover in this article different ways to buy Bitcoin in Australia, how to trade Bitcoin and the ways to store cryptocurrencies. Various ways …

Binance France and its parent company Binance Holdings Limited are being sued by 15 investors in France over alleged misleading commercial practices and fraudulent concealment, according to local media reports. In a complaint filed on Dec. 14, the plaintiffs claimed that Binance violated French laws by advertising and distributing crypto services before receiving registration from the country's authorities. As reported by Cointelegraph, France's financial market regulator, the Autorité des marchés financiers, has granted Binance a license as a digital asset provider in May 2022. The license allowed the crypto exchange to offer services such as assets custody and crypto trading. …

Binance CEO Changpeng "CZ" Zhao took to Twitter on Dec. 23 to share his perspective on the reasons behind the recent fear, uncertainty, and doubt (FUD) surrounding the crypto exchange. According to CZ in the thread, Binance's FUD is primarily caused by external factors - not by the exchange itself. One of the reasons mentioned by the CEO was that part of the crypto community hates centralization. "Regardless if a CEX helps with crypto adoption at a faster rate, they just hate CEX," he noted. CZ also pointed out that Binance has been seen as competition by many industry players, …

Crypto-based scams are constantly sweeping the nonfungible token (NFT) space; therefore, staying updated is the most significant way to prevent both new and existing NFT scams. Other than fraud, intense rivalry for newly minted NFTs may cause prices to rise and transaction fees to skyrocket, making them unaffordable for early supporters. Nonetheless, these issues have been solved by NFT providers by establishing whitelists or allowlists, giving special privileges and access to a newly minted nonfungible token. Before public minting begins, nonfungible token projects employ allowlists to restrict who can mint NFTs. For example, one can mint NFTs without being concerned …