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.

Binance to Shut Down in Malaysia, Scales Down Derivatives in Europe

  • The Malaysian Securities Commission has issued a notice ordering Binance to stop offering its services in the country.
  • The exchange also revealed that its clients in Germany, Italy, and the Netherlands will no longer be able to open new futures and derivatives accounts.

State Street to Provide Private Clients with Crypto Administration Services

  • State Street partnered with Lukka to use its reference and pricing data, as well as its middle and back office products, to power its new services.
  • Using Lukka's products, the bank will be able to incorporate digital assets alongside private clients' other alternative investments.

Valora Separates from Celo, Raises $20M

  • The mobile digital wallet built for the Celo network revealed it will be separating from its parent firm cLabs, and will now operate as an independent company.
  • The new company also announced it has closed a $20 million Series A funding round led by Andreessen Horowitz.

Chainlink Price Feeds to Go Live on Cronos

  • Crypto.com selected Chainlink as it has proven itself as one of the most reliable decentralised price oracles in the industry.
  • Its price feeds will open up new use cases on Cronos, such as establishing exchange rates for tokenized assets, checking limit order conditions, and more.

Shopify to Allow Direct Selling of NFTs

  • The e-commerce company is now supporting the direct sale of NFTs for its merchants, though the offering will be limited for some time.
  • The first merchant to use the new offering is the Chicago Bulls, which released a limited NFT collection representing its six championship rings.

Tether Executives Investigated for Bank Fraud

  • "People with direct knowledge of the matter" told Bloomberg that Tether executives have received letters informing them of the investigation.
  • The sources also revealed the Department of Justice was looking into a "conduct that occurred years ago, when Tether was in its more nascent stages".

Binance Cuts Down Leverage Limit to 20x

  • Binance announced it is lowering its futures trading leverage limit from 125x to 20x only a day after another major exchange, FTX, did the same.
  • The New York Times implied regulators will be shifting their gaze on to high leverage margin trading soon, citing a former U.S. SEC chairman on Friday.

Reddit to Scale its Community Points System Using Arbitrum

  • Arbitrum was chosen as the winner of Reddit's "Scaling Bake-Off", and will now be used to upgrade the platform's two Ethereum-based tokens.
  • The integration will remain on the Rinkeby testnet for a while, after which it will be migrated to the scaling network.

Currency.com Joins CryptoUK as Executive Member

  • Currency.com has become the 10th executive member of the association, joining the ranks of Crypto.com, eToro, Ripple, and others.
  • By joining CryptoUK the company plans to "drive greater dialogue and collaboration with regulators and policy makers" in the country.

Upcoming Crypto Exchange Receives BNY Mellon Backing

  • Bank of New York Mellon has followed in the steps of State Street in supporting the soon to be launched Pure Digital exchange.
  • BNY Mellon has offered to provide custody support, while State Street will contribute with its trading infrastructure and technology.