Krasimir Buchvarov
Krasimir has been following the development of blockchain technology for several years and is optimistic about its potential. He covers breaking news in the sphere, focusing on innovation, regulation, and the cryptocurrency market.
Nov 3, 2023
Sam Bankman-Fried Found Guilty on All Charges
- The New York Jurors took 4 fours of deliberating before pronouncing the former FTX CEO guilty of all seven charges of fraud and conspiracy to commit fraud.
- Bankman-Fried will now have to appear in court on 28 March, 2024, where he will face a potential maximum sentence of 115 years in prison.
Nov 1, 2023
FTX, Alameda Wallets Move $13M to Exchanges
- A little over $13 million in altcoins were sent to crypto exchanges Binance and Coinbase in the past 24 hours, which is in accordance with a September court order.
- The court ordered a phased liquidation process, which allows the bankruptcy estate to sell $3.4 billion worth of digital assets over a certain period of time.
Oct 31, 2023
Unibot to Compensate Users Affected by Exploit
- Popular Telegram bot Unibot, which is used to snipe trades on Uniswap, became a victim of a token approval exploit earlier today, when it was switching to a new router.
- After confirming the exploit, Unibot assured users that their keys and wallets were safe, and that the project will compensate all affected users.
Oct 30, 2023
Thai Banking Giant KBank Acquires Crypto Exchange Satang
- One of the largest banks in Thailand, Kasikornbank (KBank), acquired local crypto exchange Satang for $103 million only a month after setting-up a $100 million fund for web3, fintech, and AI.
- Once the acquisition has been completed, KBank plans to rebrand Satan to Orbix, and separate the business into three divisions, a custody platform, crypto venture arm, and blockchain development.
Oct 26, 2023
J.P. Morgan Handles $1B in Daily JPM Coin Transactions
- Launched in 2020, the bank’s permissioned blockchain-based value transfer system, called JPM Coin, now handles around $1 billion in daily transactions.
- The bank’s global head of payments said they now plan to widen the usage of the coin, and possibly create a “more retail version” of the token.
Oct 24, 2023
Sam Bankman-Fried’s First Expert Witness to Rebuke DoJ Witnesses
- Joseph Pimbley, a member of litigation consulting firm PF2 Securities, will try to rebuff testimonies from Caroline Ellison, Gary Wang, Nishad Singh, and Adam Yedidia.
- During his testimony Pimbley will try to establish a timeline for the FTX-Alameda line of credit, and convince the jury it fluctuated between $1 billion and $3 billion between 2021 and 2022.
Oct 23, 2023
Worldcoin to Pay Orb Operators in WLD From November
- The digital ID project said Orb Operators received USDC payments as part of the project’s transitional phase after launch, and now that it is nearing its end Worldcoin will be switching to WLD payments.
- Worldcoin warned Orb Operators to check if they can claim rewards in their region as WLD are not available in the United States and “certain other restricted territories”.
Oct 19, 2023
NY Attorney General Sues DGC, Genesis, and Gemini for Fraud
- An investigation from the New York Attorney General’s office has allegedly found that Gemini was aware of Genesis’ weak financial position, but still lied to investors.
- The lawsuit is looking to ban DCG, Genesis, and Gemini from the New York financial industry, seek restitutions for investments, and the return of “ill-gotten gains”.
Oct 18, 2023
Reddit to Shut Down Community Points Feature
- Launched in May 2020, the Community Points feature allowed Reddit users to earn points in the form of ERC-20 tokens through positive engagement.
- After the news broke out, the price of several Reddit-based tokens quickly crashed, with r/CryptoCurrency’s MOON going down by 85%, and r/FortNiteBR’s BRICK by 50%.
Oct 6, 2023
THORSwap Ethers Maintenance Mode Due to Illicit Activity
- The DEX said it will remain under maintenance mode until a more permanent solution to counter the movement of illicit funds through the platform is implemented.
- THORSwap has seen a rise in popularity amongst bad actors, and was even used earlier this month by a hacker connected to the $600 million FTX hack from last year.