Bitfinex: ‘Business as Usual’ Following $75k US Fine
Hong Kong exchange Bitfinex has said it will be “business as usual” after being fined $75,000 by the US Commodity Futures Trading Commission (CFTC). Bitfinex ‘Involved in Below-Board Practices’. The results of the CFTC inquiry, published Thursday in a press release, state that the fine was imposed on Bitfinex “for offering illegal off-exchange financed....
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More than 57,000 BTC have been withdrawn from BitMEX since Sept. 30.
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....
The Commodity Futures Trading Commission Fined Bitfinex $75,000 today for “offering illegal off-exchange financed retail commodity transactions in bitcoin and other cryptocurrencies,” citing the Commodity Exchange Act and Dodd-Frank for the action. This development may be the first of many to come if similar services, that host proxy wallets for the user, are found to be in violation of the same regulations. CTFC Fines Bitfinex. As it stands, it is illegal to sell Bitcoin or make any other ‘financed commodity transaction’ without guaranteeing delivery within 28 days. By hosting coins on....
Today at the Money20/20 conference in Las Vegas, Bitcoin exchange platform AlphaPoint announced that Bitcoin exchange Bitfinex would begin using AlphaPoint's services to improve its backend technology. This news is huge for both AlphaPoint and Bitfinex, as well as all of Bitfinex's customers. The partnership will help Bitfinex manage their increasing volume and popularity as a Bitcoin exchange. Important Partnership. Bitfinex currently handles the third-highest volume out of all Bitcoin exchanges, so they should be considered a top exchange. This partnership is certainly a big move for....
Bitfinex and Tether have been banned from operating in New York and must pay a fine of $18.5 million as part of a settlement with the New York Attorney General’s (NYAG’s) office over a case dating back to 2019. In a statement on Tuesday, NY Attorney General Letitia James accused the two entities of hiding severe losses from investors. “Bitfinex and Tether recklessly and unlawfully covered-up massive financial losses to keep their scheme going and protect their bottom lines,” said James. She continued: “Tether’s claims that its virtual currency was fully....