The Bitcoin Trading Platform Bitfinex is Distancing Themselves from Bitstamp
Raphael Nicolle, creator of the Bitcoin trading platform Bitfinex, has announced on reddit.com/r/bitcoinmarkets that the digital currency exchange has plans to distance themselves from Bitstamp's order books. When answering a question on a large price difference between the two, Raphael commented with the news. CCN. Arbitrage Question. T; he original question was from user Poryhack: "As I write this, the difference is a little over $8 but I've seen well over $10 in the last few days. What's causing this? Why isn't arbitrage bringing the two closer together like they've been in the past?....
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So I've been talking a lot about Bitfinex recently, since I started using it about 2 weeks ago. Up until now, I've been using a variety of exchanges including Bitstamp and BTC-E to trade my Bitcoin. I just want to point out that there is a big distinction between exchanges, and trading platforms like Bitfinex. On exchanges, all I could do was sell Bitcoin at a high, and buy them back at a low, or hold some USD in the hopes of snatching up some cheap Bitcoin. In fact, I'm sure all of you reading this have been trying to do exactly that for the last few months. If you haven't heard of Margin....
Matching our analysis, Bitcoin price plunged to near $500 BTC/USD today. That is if you were looking at the Bitstamp exchange price. BitFinex, on the other hand, saw $460 followed by a return to $500 only to slam down to $451 a few seconds later. Is this the result of some systemic error or perhaps manipulation being exercised via the BitFinex exchange? Could it be that some early adopters are cashing out, or perhaps the news? Far from it, as the following explanation will clarify. BitFinex is one of the few major exchanges that offers traders the option of margin-based trading. The others....
Bitfinex CSO Phil Potter came under a cloud this past Thursday, after an interview in which he seemed to be admitting to insider trading at Bitfinex. The interview was contained in a podcast that was posted on Vocaroo, an online voice recording service. In the voice recording, Mr. Potter can be heard strenuously clarifying that he was a Bitcoin investor. He adds that he had not been involved in actual trading on his Bitfinex trading platform saying that such an action would be "highly inappropriate". Bitfinex has come out in defense for Mr. Potter. Josh Rossi VP for Business Development....
In a press release sent out today, Bitcoin trading platform BTC.sx has unveiled a partnership with Bitfinex. The partnership will allow BTC.sx traders to enter leveraged BTC-USD positions on Bitfinex's order book. Deeper integration is planned for the future. BTC.sx is a Bitcoin-only trading platform headquartered in London's Silicon Roundabout. Bitfinex, based in Hong Kong, is one of the largest exchange in the world for USD/BTC trading. Josh Rossi, Vice President of Business Development at Bitfinex, said: "We love being able to empower innovative startups, like BTC.sx, to do what they do....
Crypto exchange Bitfinex is now venturing into TradFi with its latest launch of Bitfinex Securities. The new trading platform, as the name suggests, will allow companies to directly list tokenized versions of their shares, bonds, and other funds to raise capital. Bitfinex users will have access to buy and sell these tokenized securities. But similar […]