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.
Jun 29, 2022
Liquidation of 3AC Ordered in British Virgin Islands
- A person with knowledge of the matter told Sky News that a BVI court had ordered the liquidation of crypto hedge fund Three Arrows Capital on 27 June.
- Earlier this week, Voyager Digital issued a notice of default to 3AC for failing to pay its loan of 15,250 BTC and 350 million USDC.
Jun 28, 2022
CoinFLEX to Resume Withdrawals After $47M Token Offering
- 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.
Jun 23, 2022
Coinbase to Shut Down Coinbase Pro Platform
- 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.
Jun 22, 2022
Crypto.com Granted In-Principle License in Singapore
- 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.
Jun 21, 2022
WeChat Bans Crypto and NFT Public Accounts
- 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”.
Jun 20, 2022
4 Common Password Misconceptions
- Passwords have become a part of our daily life, protecting our most sensitive data, and we have to make sure they are as secure as possible.
- There are many ways a password can become compromised, as such it remains important that we become aware of some of the most common password myths.
Jun 20, 2022
U.K. Backtracks Controversial Crypto Data Collection Proposal
- 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.
Jun 17, 2022
Musk Hints at Crypto Payments on Twitter
- 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.
Jun 16, 2022
Circle to Launch Euro-Backed Stablecoin on 30 June
- 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.
Jun 15, 2022
Tether Denies Rumors About its Commercial Paper Holdings
- 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.