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 DEX Now Offers an XRP-Pegged Token for Trading

  • The new XRP-BF2 token was issued with the aim of increasing the interoperability between different digital assets.
  • 10 million tokens of the XRP variant were issued, all of them backed 1:1 by native XRP, which is stored in a public wallet that can be monitored by anyone.

Bitwise’s Bitcoin ETF Proposal Rejected by the SEC

  • The reason behind the rejection was that NYSE Arca did not meet the requirements to prevent market manipulation and other illicit activities.
  • Currently, there is only one ETF proposal awaiting decision from the SEC, but things do not look good as it was again filed by NYSE Arca.

Mark Zuckerberg to Testify at a Congressional Hearing Regarding Libra

  • Facebook's CEO will be the only witness during "An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors" hearing on 23 October.
  • A new bill has been drafted, which is designed to block big firms from getting licensed as financial institutions in the U.S..

OpenLibra – a Permissionless Fork of Facebook’s Libra

  • The project plans to become "an alternative to Facebook's Libra", focusing on open governance and economic decentralization.
  • Reportedly, anything that can run on Facebook's Libra can be dragged and dropped into the new permissionless fork.

Swiss Central Bank to Research CBDCs

  • The Swiss National Bank will work together with the SIX Digital Exchange to explore how CBDC's can be integrated into a DLT platform.
  • DLT-based tokenized assets and CBDC's could stimulate new financial innovations, as well as reduce counterparty risk.

UNICEF Launched a Crypto Fund to Support Open Source Technology

  • This makes UNICEF the first U.N. organization that can now receive and distribute Bitcoin (BTC) and Ethereum (ETH) donations.
  • The Ethereum Foundation was the first organization to contribute to the newly established fund.

Traders Can Now Bet on Whether Libra Will Launch in 2020

  • Crypto exchange CoinFlex will soon launch its Libra initial futures opening (IFO), which will let traders bet on whether the project will launch before December 30, 2020.
  • The initial price of the contract will be set at $0.30, which represents a 30% chance for the project to launch before its settlement date.

QuadrigaCX Founder’s Widow to Hand Over $9 Million in Assets

  • After handing over most of her assets and all of the estate's assets, Jennifer Robertson will be left with $162,700 in personal assets.
  • She personally suggested the settlement after EY Canada released their fifth report, which revealed that her husband commingled client and corporate funds.

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.