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.
CoinFLEX paused all withdrawals on the platform on 24 June due to extreme market conditions, and an account going into negative equity without being liquidated.
Called Recovery Value USD (rvUSD), the new token will be worth $1 each, and will come with a 20% APR paid daily in rvUSD.
Launched in 2018, Coinbase Pro was designed to provide advanced traders with unlimited trading volumes, as well as a larger choice of cryptocurrencies.
Coinbase plans to replace “Pro” with its Advanced Trade feature by the end of the year, bringing all of its services under the same platform.
Coinbase co-founder and CEO Brian Armstrong speaking at TechCrunch Disrupt SF 2018. Steve Jennings/Getty Images for TechCrunch
One of the advantages of receiving a Major Payment Institution license is that it allows companies to provide Digital Payment Token services to customers in Singapore.
In order to acquire the license, Crypto.com was obliged to act in accordance with AML and CFT legislations, as well as comply with a number of legal demands.
Kris Marszalek, Co-Founder and CEO at Crypto.com, on the MoneyConf Stage during day two of RISE 2018 at the Hong Kong Convention and Exhibition Centre in Hong Kong. Seb Daly/RISE via Sportsfile
WeChat, China’s largest social media platform with over 1.1 billion daily users, has changed its policy and will now ban accounts connected to crypto and NFTs.
The platform has placed “engaging in virtual currency or digital collection business” under its illegal operations clause, meaning it will be considered as “violating content”.
The rule, which was proposed last July, would have required all senders of crypto to collect the personal information of the recipient, even if they were using private wallets.
Her Majesty’s Treasury decided to not enforce the rule following the feedback it received on its consultation paper, which was also released last July.
Big Ben (Elizabeth Tower) stands at the north end of the Palace of Westminster, the meeting place of House of Commons and House of Lords, London, United Kingdom, April 19, 2017. Shutterstock
During a Twitter virtual all hands on deck meeting, billionaire Elon Musk said “it would make sense to integrate payments into Twitter”, including crypto.
The CEO of Tesla and SpaceX also noted that his goal for Twitter was to “maximize the usefulness of the service”, and that enabling convenient payments was one way to do it.
Tesla CEO Elon Musk in California City, California, USA on 14 December 2020. Shutterstock
The so called Euro Coin (EUROC) will be fully backed by euro-denominated reserves, with the initial custodian being San Diego-based Silvergate Bank.
Circle noted that the Grant Thornton LLP will be issuing attestations of EUROC’s reserves on a monthly basis, starting July.
Jeremy Allaire (Circle CEO) speaks on a panel discussion during the Digital Life Design (DLD) Conference at the HVB Forum on January 20, 2014 in Munich, Germany. Hubert Burda Media/Picture Alliance
Tether said the rumor its commercial paper portfolio was 85% backed by Chinese commercial papers was “completely false and likely spread to induce further panic”.
The company also noted that it has reduced its portfolio to $11 billion, down from $20 billion in March, and that the goal was to eventually reduce its commercial paper backing to zero.