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El Salvador’s position as the fourth-largest crypto ATM hub was short-lived as Australia stepped up its game over the following months. El Salvador, the first country to legalize Bitcoin ( BTC ), has been pushed down yet another spot in total crypto ATM installations as Australia records 216 ATMs stepping into the year 2023. As part of El Salvador’s drive to establish Bitcoin as a legal tender, President Nayib Bukele had decided to install over 200 crypto ATMs across the country. While this move made El Salvador the third largest crypto ATM hub at the time after the United States and Canada in September 2021, Spain and Australia overtook the Central American country’s ATM count in 2022. On October 2022, Cointelegraph reported that Spain became the third-largest crypto ATM hub after installing 215 crypto ATMs. However, Spain continued its installation drive and is home to 226 crypto ATMs at the time of writing. El Salvador’s position as the fourth-largest crypto ATM hub was short-

2022 was a record-breaking year for blockchain and crypto VCs. Depending on who you ask, that's either a good thing or a bad thing. 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 an impressive tally given the industry-wide contagion sparked by the sudden collapses of Celsius, Three Arrows Capital, Genesis, BlockFi and FTX, among others. Against this backdrop, we’ve compiled a list of some of the biggest funding stories of 2

Top Stories This Week Bankman-Fried may enter plea in NY federal court next week before Judge Lewis Kaplan Former FTX CEO Sam Bankman-Fried is scheduled to appear in court on the afternoon of Jan. 3 to enter a plea on two counts of wire fraud and six counts of conspiracy against him in relation to the collapse of the FTX cryptocurrency exchange. After being released on a $250 million bail bond, Bankman-Fried reportedly met with Michael Lewis , author of The Big Short: Inside the Doomsday Machine , a bestseller that was turned into a movie, spurring speculation that a film about the disgraced exchange’s saga is on the way. SBF borrowed $546M from Alameda to fund Robinhood share purchase In another headline related to Sam Bankman-Fried , an affidavit by the founder of FTX revealed that he previously borrowed over $546 million from Alameda Research to fund a purchase of Robinhood shares. Later, those same shares were used by Bankman-Fried as collateral for a $600 million loan taken

Developers have been focusing more on tokens than on making fun games. As a result, GameFi has been dying. Play-to-earn gaming enabled by blockchain technology has grown exponentially over the few years.  Gamers have embraced the opportunity to collect cryptocurrencies or ​ nonfungible tokens (​NFTs​)​ that have been produced in blockchain-based games. Through the advent of this new technology, players have been able to generate income by selling in-game NFTs or earning cryptocurrency rewards, both of which can be exchanged for fiat cash. Because of this​, according to data from​ Absolute Reports​, the estimated value of the GameFi industry will grow to $2.8 billion by 2028, with a compound annual growth rate of 20.4% ​over the same period. But such predictions may well prove to be unfounded. Given the rate of exponential growth over recent years, one might think that there was absolutely no reason to believe the trend would not continue well into 2023 and beyond. Right? Wrong.

Solana has been on a freefall since the collapse of FTX and has not been able to move upwards because of the FUD (fear, uncertainty and doubt) surrounding the ecosystem and its connections with the former crypto exchange. According to recent news , Solana’s native token SOL has dropped 51.14% since the day FTX fell from grace.  Solana: Dead Or Not Dead?  The current situation might be confusing to investors. Based on data by CoinGeko , the token shot up by 5.4% in the past 24 hours which might be a signal that investor sentiment is reversing. However, the FUD still remains strong around the ecosystem itself.  Messari released an overview of the ecosystem back on December 15. The basic gist of the overview was that Solana is still a solid ecosystem even after the collapse of the Sam Bankman-Fried-led exchange. However, recent Santiment insight on the ecosystem shows that it might be already dead.  The most notable on-chain development for the token was the significant drop in d

Mr. Park Mo was found dead after an investigation had been launched against him for embezzlement and stock price manipulation. Mr. Park Mo, the vice president of Vidente, the largest shareholder of South Korean Cryptocurrency exchange Bithumb,was reportedly found dead in front of his home at 4 am, on the morning of Dec. 30.  Prior to his death, Mr. Mo had been named as a primary suspect in an investigation launched by South Korean prosecutors for his alleged involvement in the embezzling funds at Bithumb-related companies, as well as, manipulating stock prices. In October 2021, the Financial Investigation Division of the Seoul Southern District Prosecutor's Office launched an investigation into allegations made against Mr. Park Mo, which led to the seizing of Bithumb-affiliated companies such as Vident, Inbiogen, and Bucket Studio.  Vident, a KOSDAQ-listed company, is known to be Bithumb's largest shareholder and holds a 34.22% stake in the cryptocurrency exchange.  Acc

The last week of 2022 didn't turn out to be a good one as the industry recorded multiple exploits and an exit scam scare. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. For DeFi, the last week of 2022 saw another slew of exploits, insider job accusations and exit scam drama. It all started on Christmas, when Defrost Finance, a decentralized leveraged trading platform on the Avalanche blockchain, was exploited by a DeFi flash loan attack causing $12 million in losses. However, the hacker behind the attacks reportedly returned a portion of the funds the next day. Security analytic firm Certik looked into the chain of events and concluded that the $12 million of funds drained were a part of an exit scam. On Dec. 26, when the Defrost exploit saga was unfolding, Bitkeep, a multichain wallet, was exploited for $8 million by hackers. Later in an analysi

Data shows Ethereum’s year of high correlation with Bitcoin is coming to an end with the metric hitting ATH values. Ethereum Ends 2022 With All-Time High Correlation To Bitcoin According to the year-end report from Arcane Research , the global markets have all fallen strongly correlated this year. The “ 30-day correlations ” is an indicator that measures how in-tune Bitcoin has been with another asset in terms of price movement over a 30-day period. When the value of this metric is greater than zero, it means there has been a positive correlation between BTC and the other asset in the past month. On the other hand, negative values imply that the price of the crypto has been reacting to changes in the value of the other asset by moving in the opposite direction. Also, the higher the metric value (in either direction), the more the degree of the correlation. Naturally, the metric has a value equal to zero suggesting the two prices aren’t tied to each other at the moment. Now, here i

MicroStrategy scooped up BTC at an average price of just under $17,200. Meanwhile, Binance's CZ explains why there's so much FUD surrounding his exchange. 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 metaverse, Changpeng Zhao’s response to haters and the collective woes of Bitcoin miners. MicroStrategy adds to Bitcoin stake despite steep loss Business intelligence firm MicroStrategy scooped up 2,395

2022 is coming to an end, and our staff at NewsBTC decided to launch this Crypto Holiday Special to provide some perspective on the crypto industry. We will talk with multiple guests to understand this year’s highs and lows for crypto. In the spirit of Charles Dicken’s classic, “A Christmas Carol,” we’ll look into crypto from different angles, look at its possible trajectory for 2023 and find common ground amongst these different views of an industry that might support the future of finances. Zhou: “It won’t be business as usual for centralized exchanges. For one, the days of commingling users and the exchanges’ assets are long gone.” We are ending our institutional round with Wei Zhou; he worked as Chief Financial Officer for three years at the largest crypto exchange worldwide, Binance. Above the rest, this company and its current CEO, Changpeng “CZ” Zhao, heavily impacted the nascent industry and will continue to exercise influence in the coming years. Zhou: “Bitcoin, just like

Billions of dollars paid in the months leading up to the crypto exchange's bankruptcy may be returned to pay FTX's creditors, according to an insolvency attorney. 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 result, creditors could seek a clawback on transfers made by FTX to external parties, including the $2.1 billion paid by FTX to Binance when Binance exited its Series A investment in FTX. Changpeng “CZ” Zhao, Binance CEO, has recently  dismissed

On-chain data shows Bitcoin has now been below its realized price for 163 days in this bear market; here’s how this compares with previous cycles. Bitcoin Realized Price Is Currently Valued At Around $19,900 According to CryptoQuant’s year-end dashboard release, the bear market would be over if BTC reclaims this level. To understand what the “realized price” is, the “realized cap” must be looked at first. The realized cap is a capitalization model for Bitcoin that aims to provide a sort of “real value” for the crypto. Unlike the usual market cap, which simply values each coin in circulation using the current BTC price, the realized cap prices each token at the same price it was last moved. For example, if 1 BTC was bought at $20,000, but the price has now changed to $16,000, the market cap will consider it valued at $16,000. The realized cap, however, will say its true value is $20,000. Now, if the total realized cap of Bitcoin is divided by the total number of coins in circulati

Just the top 10 major cryptocurrency exploits garnered over $2 billion for malicious actors in a year that was marred with bankruptcies and collapses. It's been a turbulent year for the cryptocurrency industry — market prices have taken a huge dip, crypto giants have collapsed and billions have been stolen in crypto exploits and hacks. It was not even halfway through October when Chainalysis declared 2022 to be the “biggest year ever for hacking activity.” As of Dec. 29, the 10 largest exploits of 2022 have seen $2.1 billion stolen from crypto protocols. Below are those exploits and hacks, ranked from smallest to largest. 10: Beanstalk Farms exploit — $76M Stablecoin protocol Beanstalk Farms suffered a $76 million exploit on April 18 from an attacker using a flash loan to buy governance tokens. This was used to pass two proposals that inserted malicious smart contracts. The exploit was initially thought to have cost around $182 million as Beanstalk was drained of all its