Bitcoin Exchange Bitfinex Sues Wells Fargo Over Embargoed Wire Transfers
A lawsuit filed Wednesday in Northern District of California federal court, San Francisco division could turn out to hold meaning for the entire Bitcoin world. Bitfinex, the exchange which took heavy losses in face and treasure when it was hacked in 2015, is taking Wells Fargo to court for having reversed US dollar cash deposits designated for their customer accounts coming from Bitfinex. The legality of shutting down bank accounts merely for being related to the use of Bitcoin or cryptocurrency trading has long been questionable, but the outcome of this lawsuit could bring some clarity to....
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A week following a lawsuit filed against Wells Fargo for suspending its U.S. dollar transfers, Bitfinex has withdrawn its lawsuit. Few believed that Bitfinex had a chance against Wells Fargo, which acted as the company’s correspondent bank. Lawsuit Withdrawn. Bitfinex’s parent company, Ifinex, originally filed a lawsuit against Wells Fargo & Company....
Wells Fargo is the next major banking and financial services provider to join the mix of offering crypto assets. The news comes after last week’s report that Swiss-based institution UBS Group AG was looking to make a similar move. Wells Fargo’s Change In Perspective Just a few years ago, Wells Fargo was banning credit card […]
Wells Fargo will soon offer “a professionally managed solution” for cryptocurrency to clients. “We think the cryptocurrency space has just kind of hit an evolution and maturation of its development that allows it now to be a viable investable asset,” said the president of Wells Fargo Investment Institute. Wells Fargo Getting Into Crypto Darrell Cronk, the president of Wells Fargo Investment Institute, a registered investment adviser and wholly owned subsidiary of Wells Fargo Bank, revealed his team’s crypto plans to the Insider in an interview published....
"Rules of Engagement" are the exact words that Wells Fargo used, I can't make this stuff up guys... Even if I wanted to. As reported first in an FT article by Stephen Foley and Camilla Hall, Wells Fargo's anti-money laundering chief Jim Reynolds has launched a group to investigate how exactly Wells Fargo, and major financial institutions by extension and inclusion, might offer banking arrangements safely to Bitcoin-related services. Wells Fargo's chief executive John Stumpf further elaborated stating that it was Wells Fargo's standard bank practice to look into any financial innovations,....
Wells Fargo has joined the race alongside JPMorgan in launching Bitcoin funds. The two big banks have both processed Bitcoin funds with SEC – the Securities and Exchange Commission. They are another pair of renowned banks to broaden their interest in cryptocurrency. Wells Fargo is an American multinational financial services company in the United States […]