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.

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.

$17.1 Million Raised for Skale Network’s Mainnet Launch

  • The Ethereum-compatible blockchain scalability platform now has over 40 investors from the U.S., European Union, Japan, Korea, Hong Kong and Singapore.
  • The newly raised funds will be used to expand the 20-man engineering team, improve security, and stabilize the network.

Revenue-Sharing Stablecoin Launched by Former Employees of J.P. Morgan, Intel and TrustToken

  • Released by the Global Currency Organization, this new project aims to bridge the gap "between traditional and decentralized finance".
  • The new USD Digital (USDD) token uses the Ethereum blockchain and incentivizes adoption through its novel fifty-fifty revenue sharing model.

Testnet Split Caused by Ethereum’s Istanbul Early Arrival

  • The update came in 2 days earlier, causing a split of the Ropsten testnet.
  • There shouldn't be any problems when the update is activated on the main Ethereum network, Hudson Jameson, community manager of the Ethereum Foundation, explained.

EOS Maker Block.One Reached $24 Million Settlement with SEC

  • The current EOS token will not be registered as a security, as the settlement applied only to the original ERC-20 token, which is no longer in circulation.
  • The company was able to raise around $4.1 billion during its ICO, which makes the fine only 0.58% of the proceeds.

Head of Crypto Escrow Service Charged With $7 Million Bitcoin Fraud

  • Jon Barry Thompson has been accused of committing two counts of wire and commodities fraud offenses by the U.S. Attorney's Office.
  • Thompson also faces civil charges by the CFTC for "knowingly or recklessly making false representations to customers".

ING Chief Economist: Central Banks to Develop Digital Currencies in 2-3 Years

  • Mark Cliffe argued that Central Bank Digital Currencies (CBDC) will allow banks to move into negative territory with interest rates.
  • CBDCs, he said, will also open "a whole range of policy options", and can provide new ways to support economic activity.

Ant Financial to Develop Agricultural Blockchain with Bayer

  • The two firms have signed a letter of intent during this year's Apsara Conference in Hangzhou, China.
  • The blockchain-based agricultural system will try to improve farmers' incomes, increase efficiency, and help the digitization of agriculture.

Class Action Complaint Alleges Overstock CEO and CFO of Market Manipulation

  • Overstock and two former executives allegedly published “materially false and misleading statements” about the company's financial state.
  • The "false statements" artificially inflated the company's stock, which let Byrne sell his 13% share in the company at unrealistic prices.

Bithumb’s Acquisition Deal Could Fall Apart

  • BK Global Consortium's 400 billion won (around $334 million) acquisition deal of Bithumb still not paid in full after one year.
  • So far the company has only made a $100 million down payment, and has had its full payment deadline extended twice.