Tag: bitfinex

  • Bitcoin

    Withdrawing Crypto to Fiat From Bitfinex Now Costs Close to PayPal

    Converting crypto to fiat is not cheap anymore, at least on Bitfinex. The Hong Kong-based digital assets exchange on Sunday updated its fee structure for high-frequency wire withdrawals. It effectively imposed a 3 percent commission cut on all external wire withdrawal requests that would exceed 1) more than two...

    Davit Babayan | November 12, 2018 | 2:50 pm
  • Tether
    Technology

    Tether Opens Bank Account with Caribbean Deltec Bank

    Tether Limited, the issuer of stablecoin Tether (USDT) wholly-owned by Bitfinex, has opened a bank account with Bahamas-based Deltec Bank. The move follows a long process of due diligence review of the company, including the ability to maintain the USD peg at any moment in time, the announcement says. Deltec...

    Ricardo Esteves | November 2, 2018 | 7:00 pm
  • Tether
    Industry

    Tether Burns Half a Billion USDT Coins in an Act of Redemption

    In their recent blog post, Tether, the parent company of a USDT stablecoin, announced a token burn that will permanently eliminate 500 million units. Yesterday, the company announced that the burning process had been completed. Tether has just destroyed 500M USDt from the Tether treasury wallet with the...

    Ali Raza | October 25, 2018 | 4:30 pm
  • Technology

    Long-Time Critic Explains Why Bitfinex is Unable to Work With Banks

    Bitfinex’ed, a long-time critic of Bitfinex and Tether LLC, a company that oversees the development of stablecoin Tether (USDT), has stated in an interview with Modern Consensus that the “pretend KYC/AML” system of Bitfinex is preventing the exchange from obtaining banking services. For years, from the shutdown of...

    Joseph Young | October 18, 2018 | 3:00 pm
  • Tether
    Bitcoin

    Bitcoin Trades at $300 Premium on Bitfinex as Tether Faces Panic

    As Tether faces credibility issues in the cryptocurrency market, holders are taking a 5 percent haircut as they exchange the stable coin for other cryptocurrencies, including Bitcoin, on the Bitfinex exchange. The increased fear that each token issued may not be backed by one U.S. Dollar has resulted in...

    Ricardo Esteves | October 18, 2018 | 5:00 am
  • trade volumes
    Bitcoin

    Crypto Trade Volume Doubles Overnight, Have The Bears Run Out Of Steam?

    After a seemingly endless cycle of non-action, the crypto market finally saw a spark of life on Monday, as fears of a Tether ‘bank run’ hit newfound highs, while confusion strong-handed investors into making moves. In the span of just a few hours, exchanges recorded billions of dollars...

    Nick Chong | October 16, 2018 | 10:00 am
  • Juniper
    Bitcoin

    Bitfinex Premium on Bitcoin Hit $1,000 Today, Can It Affect the SEC’s Decision?

    Bitfinex’s $1,000 premium on Bitcoin, which sent its price shooting upwards of $7,500, and Tether’s 6% drop on Monday, has created a lot of commotion in the crypto-sphere. The currency’s wild price swing, which was observed only on Tether-enabled cryptocurrency exchanges, has left cryptocurrency supporters speculating about the...

    Prateek Dimri | October 15, 2018 | 5:00 pm
  • Technology

    Tether Forces Bitcoin to Achieve $7,500, Crypto Market Adds $20 Billion

    The crypto market and Bitcoin investors were in for a shock on Monday morning, as Tether, a self-proclaimed “stablecoin,” fell 6% below its U.S. Dollar (USD) peg amid a growing sense of confusion within the cryptosphere. Tether, Bitfinex Worries Plague Crypto Market During the wee hours of Monday morning,...

    Nick Chong | October 15, 2018 | 7:19 am
  • Bitcoin

    Bitfinex Banking Scares Continue, Bitcoin Premium Skyrockets, Tether Dumps

    Since the establishment of the first crypto-to-fiat platform, exchanges have been subject to intense scrutiny from banks, regulators, and most importantly, the consumers and investors themselves. Despite its veteran status in this nascent industry, Bitfinex isn’t exempt from this scrutiny, as a few too many controversies have rocked the Hong...

    Nick Chong | October 13, 2018 | 12:46 pm

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