Bitfinex Prepares for Bitcoin Trading Growth with New Back-End
Bitfinex has announced that it will seek to overhaul the back-end of its trading exchange through a new partnership with AlphaPoint. One of the top bitcoin exchanges by USD trading volume, Bitfinex is currently in beta, yet it already offers a number of advanced trading features including margin trading and tradeable mining contracts. The Hong Kong-based exchange said the partnership will help ensure its platform can scale to meet the growing international demand for bitcoin trading. Although notable for Bitfinex, the partnership also represents arguably the first major deal for....
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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....
The Bitcoin price has taken a tumble today with the Bitfinex trading outage, starting around 5 PM Eastern Time, and continuing into the night. This news follows scheduled maintenance on th 17th. Bitfinex is citing “server migration issues” as the source of the outage delaying their projected re-launch time several times while attempting to fix the problem, allowing bursts of cancellation requests through as they worked. The outage coincides with as much as a 9% drop from the $740 USD level down to $685 at it’s lowest point. Bitfinex has since come back online, and prices and volume are....
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....
Customers can now borrow money from crypto exchange Bitfinex. Amid a year of significant growth for the decentralized finance space within the crypto industry, British Virgin Islands-based crypto exchange Bitfinex has unveiled its new lending service today, called Bitfinex Borrow. "Bitfinex Borrow is a borrowing platform," Bitfinex chief technology officer Paolo Ardoino told Cointelegraph. “This particular offering isn’t about lending out your crypto and obtaining a rate of return on it," he said. “The crypto loan is obtained via Bitfinex’s peer-to-peer lending platform, though it may....
Bitcoin trading platform Bitfinex is back in the news, but unfortunately, this time for the wrong reason. The trading platform has requested its customers to desist from depositing cryptocurrencies to old deposits addresses after a suspected compromise. Bitfinex issued an announcement, Urgent action required today: "Dear Customer although we keep over 99.5% of users' BTC deposits in secure multisig wallets, the small remaining amount in coins in our hot wallet are theoretically vulnerable to attack. We believe that our hot wallet keys might have been compromised and ask that all of our....