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.

Bitfinex and Tether Accused of Crypto Market Manipulation

  • The complaint document claims that the two firms' market manipulation caused economic damages equal to more than a trillion dollars.
  • Days before the accusations were made Bitfinex released a statement, saying that it was expecting such a lawsuit.

U.K. Financial Regulator’s Crypto Related Investigations Up By 74%

  • Data from a law firm shows that the FCA conducted around 50 investigations into crypto-related firms in 2018, compared to 87 in 2019 so far.
  • The increased scrutiny demonstrated the FCA’s increasingly hands-on and no-nonsense approach to the crypto industry.

Algo Capital Hacked, Lose up to $2M as Ex-CTO Takes Full Responsibility

  • Friday's hack on Pablo Yabo's phone resulted in Algo Capital loosing between $1 million and $2 million in Tether (USDT) and Algorand (ALGO).
  • Yabo has taken full responsibility for the incident, vowing to personally cover most of the stolen funds.

Apple Has No Plans of Launching its Own Cryptocurrency

  • Tim Cook said that "money must remain in the hands of states", and that private companies should not create competing currencies.
  • The reason for Apple to stay away from crypto could be Facebook, which has been under heavy fire from regulators for its Libra stablecoin initiative.

Facebook’s Libra Lost PayPal’s Backing

  • This Friday Amanda Coffee, a spokeswoman for PayPal, confirmed that the company has withdrawn from the Libra Association.
  • Visa and Mastercard are reportedly also unsure about their participation in the stablecoin project, obviously wary of the regulatory pushback.

Telegram’s TON Blockchain on Track for Late October Launch

  • Investors in the ICO need to provide Telegram with their public keys so they can receive their Gram (GRM) tokens.
  • The TON blockchain is geared to support Ethereum DApps out-of-the-box.

Federal Reserve Urged to Consider a National Digital Currency

  • U.S. congressmen sent a letter to the Fed, urging them to "take up the project of developing a U.S. dollar digital currency".
  • According to them, the U.S. dollar's importance could be in jeopardy from the wide adoption of digital fiat currencies.

Coinbase Users Can Now Earn Interest on Their USDC Holdings

  • The exchange's new rewards program allows its users to earn a 1.25% annual percentage yield (APY) for every USDC in their accounts.
  • The rewards will be distributed on a monthly basis, and can be used to buy other cryptocurrencies listed on the exchange.

Visa and Mastercard Participation in Libra is Unsure

  • The financial services giants are concerned with their reputation, considering the major scrutiny the project has seen from regulators worldwide.
  • At least three other organizations are considering withdrawing their support as far back as August.

FINMA to Accept Facebook’s Libra with Open Mind

  • Facebook's Libra will face the same strict rules that usually apply to banks, but there will be no additional hurdles to its development.
  • Mark Branson, head of the Swiss Financial Market Supervisory Authority, said that he is more worried about projects in the dark as opposed to Libra.