U.S. Regulators Subpoena Bitfinex and Tether

Bitcoin fell lower $10 000 on the background of these events
31 January 2018   920

The Commodity Trading Futures Commission of the United States (CTFC) began a close study of the activities of one of the leading crypto-exchange exchanges Bitfinex and Tether, sending representatives of both organizations summonses to the court. This is reported by Bloomberg.

Against the backdrop of this news, the price of bitcoin, which had been in the negative trend for the past two days, quickly went down, dropping for a short time below $ 10,000.

Bitcoin Price Chart
Bitcoin Price Chart

So, at Bitfinex, the bitcoin rate dropped to $ 9,900, while on the other popular Bitstamp exchange the price the first cryptocurrency fell to $ 9731.

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Bitfinex and Tether in email statement

Representatives of the CFTC have not yet commented on the news.

The publication notes that Bitfinex and Tether on their websites and public documents don't disclose their exact location and the names of managers, in December last year a representative of both firms, Ron Torosyan, acknowledged the ties between Tether and Bitfinex.

Rumors about the relationship between the two organizations have been around for a long time, but only after the leakage and publication of the Paradise Papers were factually confirmed. As stated in the documents, in the past, Potter was the director and founder of Tether, and Devazini is the shareholder of the company. The dossier is also referred to by the New York Times, which at one time published a large article about the controversy surrounding Bitfinex and Tether.

Bitfinex to Launch New Improved Fiat Deposit System

New system of deposists supports 4 popular currencies and requires KYC procedure completion
17 October 2018   147

Bitfinex Cryptocurrency Exchange has introduced a new system for fiat currencies deposits: the US dollar (USD), the British pound (GBP), the Japanese yen (JPY) and the euro (EUR). Now, the users who have completed the KYC procedure will create an application, indicating the deposit amount and currency, and the platform representatives will consider it within 48 hours.

Then, if approved, users will be sent the recipient's bank data, and the deposit itself will be credited to the account within 6-10 business days.

In this case, the minimum threshold of $ 10,000 was not abolished.

Earlier, Bitfinex had an anomalous growth of Bitcoin to the level of $ 7,788, which was associated with the possible collapse of Tether.

Nevertheless, the USDT price also stabilized, and representatives of the issuer said that the tokens were fully secured.