[OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading

[Sukrim]

...opening it up again you mean. ;-)

[1715266971]

1715266971

[1715266971]

1715266971

[1715266971]

1715266971

[1715266971]

1715266971

[1715266971]

1715266971

[mayax]

yes, opening for new fools

[bakasabo]

yes, opening for new fools

Why fools? These exchange has some issues with deposing/withdrawal? I'm not quite familiar with Bitfinex previous work experience and why minimum equity threshold was used.

[mayax]

yes, opening for new fools

Why fools? These exchange has some issues with deposing/withdrawal? I'm not quite familiar with Bitfinex previous work experience and why minimum equity threshold was used.

YES, BIG problems! Make a search on internet and you will see...

[European Central Bank]

Why fools? These exchange has some issues with deposing/withdrawal? I'm not quite familiar with Bitfinex previous work experience and why minimum equity threshold was used.

this guy's one and only passion in life is appearing on any exchange thread he can find and attempting to scare people. it doesn't matter what the exchange is, or what the news is. it's seriously, seriously weird.

[milewilda]

Why fools? These exchange has some issues with deposing/withdrawal? I'm not quite familiar with Bitfinex previous work experience and why minimum equity threshold was used.

this guy's one and only passion in life is appearing on any exchange thread he can find and attempting to scare people. it doesn't matter what the exchange is, or what the news is. it's seriously, seriously weird.

He do have the trauma when it comes to deposits and withdrawals thats why he do generalize all exchangers. lol

YES, BIG problems! Make a search on internet and you will see...

A simple google search will surely open his eyes.

[mayax]

Why fools? These exchange has some issues with deposing/withdrawal? I'm not quite familiar with Bitfinex previous work experience and why minimum equity threshold was used.

this guy's one and only passion in life is appearing on any exchange thread he can find and attempting to scare people. it doesn't matter what the exchange is, or what the news is. it's seriously, seriously weird.

there are only few legit exchangers. Bitfinex is not one of them. It is not licensed, it has no public bank account, no real office, nothing...

Here, you can read more :

https://twitter.com/bitfinexed

https://www.reddit.com/r/bitfinex

[TheQuin]

Why fools? These exchange has some issues with deposing/withdrawal? I'm not quite familiar with Bitfinex previous work experience and why minimum equity threshold was used.

this guy's one and only passion in life is appearing on any exchange thread he can find and attempting to scare people. it doesn't matter what the exchange is, or what the news is. it's seriously, seriously weird.

there are only few legit exchangers. Bitfinex is not one of them. It is not licensed, it has no public bank account, no real office, nothing...

Here, you can read more :

https://twitter.com/bitfinexed

https://www.reddit.com/r/bitfinex

Lol, mad Mayax returns from the dead. All his predictions of Bitfinex doing an exit scam and Tether collapsing have not materialized. So he and bitfinexed just keep repeating the same bullshit and Bitfinex continues to run a legit, successful business.

[mayax]

Why fools? These exchange has some issues with deposing/withdrawal? I'm not quite familiar with Bitfinex previous work experience and why minimum equity threshold was used.

this guy's one and only passion in life is appearing on any exchange thread he can find and attempting to scare people. it doesn't matter what the exchange is, or what the news is. it's seriously, seriously weird.

there are only few legit exchangers. Bitfinex is not one of them. It is not licensed, it has no public bank account, no real office, nothing...

Here, you can read more :

https://twitter.com/bitfinexed

https://www.reddit.com/r/bitfinex

Lol, mad Mayax returns from the dead. All his predictions of Bitfinex doing an exit scam and Tether collapsing have not materialized. So he and bitfinexed just keep repeating the same bullshit and Bitfinex continues to run a legit, successful business.

legit = not licensed ?
legit = no public bank account?

How is Coinbase or Bitstamp if Bitfinex is legit?

[TheQuin]

legit = not licensed ?
legit = no public bank account?

How is Coinbase or Bitstamp if Bitfinex is legit?

Legit = not needing a licence.
Nobodies bank account is public.

Coinbase and Bitstamp chose to succumb to state supervision.


...and guess what.... Mad mayax has forgotten all about the bad things he claimed were about to happen.

[figmentofmyass]

Lol, mad Mayax returns from the dead. All his predictions of Bitfinex doing an exit scam and Tether collapsing have not materialized. So he and bitfinexed just keep repeating the same bullshit and Bitfinex continues to run a legit, successful business.

i think it's a bit less black and white than that. i'm not worried about an exit scam but i'm not confident they are "legit" either. i believe bitfinex was openly operating in the USA as an unlicensed money transmitter for 4+ years before finally banning USA residents. in an unrelated matter, the DOJ is in the middle of a criminal investigation of bitfinex/tether for market manipulation. a related open CFTC investigation goes back ~ 1.5 years. in the middle of this investigation, phil potter left bitfinex after 5 years there, which certainly feels ominous. it's important to note that federal agencies usually spend multiple years building criminal cases before finally unsealing indictments and seizing servers/domains. nobody should be surprised if bitfinex.com has an FBI seizure notice on it 6 months from now.

giancarlo said they bank like criminals and i'm not saying that's not for good reason.....but along with being unlicensed and operating from sketchy jurisdictions like the BVI, it's also resulted in extremely long banking delays and high fees. it reminds me of the banking cat and mouse game that online poker sites played after the feds shut down pokerstars in 2011.

[Quickseller]

Lol, mad Mayax returns from the dead. All his predictions of Bitfinex doing an exit scam and Tether collapsing have not materialized. So he and bitfinexed just keep repeating the same bullshit and Bitfinex continues to run a legit, successful business.

i think it's a bit less black and white than that. i believe bitfinex was openly operating in the USA as an unlicensed money transmitter for 4+ years before finally banning USA residents.

I don't think allowing US residents withdrawing BTC or fiat makes them a money transmitter.

The banning of US persons was most likely related to margin trading, margin lending, and a subset of listed coins potentially being classified as "securities" by the SEC.

The CFTC looked into their business practices in 2014/2015, and fined them based on their margin trading practices. Presumably, if there were concerns about their "money transmission" practices, the CFTC or another regulator would have stepped in.

[figmentofmyass]

I don't think allowing US residents withdrawing BTC or fiat makes them a money transmitter.

i'm not sure about bitcoin, but in the case of fiat it certainly does. from the case of btc-e and alexander vinnik:

The indictment charges BTC-e and Vinnik with one count of operation of an unlicensed money service business, in violation of 18 U.S.C. § 1960, and one count of conspiracy to commit money laundering, in violation of 18 U.S.C. § 1956(h).

bitfinex wired funds to USA customers for years. 18 U.S.C. § 1960 says:

the term “money transmitting” includes transferring funds on behalf of the public by any and all means including but not limited to transfers within this country or to locations abroad by wire, check, draft, facsimile, or courier;

The banning of US persons was most likely related to margin trading, margin lending, and a subset of listed coins potentially being classified as "securities" by the SEC.

The CFTC looked into their business practices in 2014/2015, and fined them based on their margin trading practices. Presumably, if there were concerns about their "money transmission" practices, the CFTC or another regulator would have stepped in.

the CFTC has no jurisdiction over money transmission issues and i don't think anyone was particularly concerned about bitcoin exchanges in 2014. like i said, federal agencies spend multiple years building cases like this. and this isn't like btc-e where the investigation was all under seal; there are multiple active investigations into bitfinex right now.

i certainly don't wanna see them go down and i want to think they won't, but i wouldn't be storing money there either. that's risky as hell.

[mayax]

Lol, mad Mayax returns from the dead. All his predictions of Bitfinex doing an exit scam and Tether collapsing have not materialized. So he and bitfinexed just keep repeating the same bullshit and Bitfinex continues to run a legit, successful business.

i think it's a bit less black and white than that. i believe bitfinex was openly operating in the USA as an unlicensed money transmitter for 4+ years before finally banning USA residents.

I don't think allowing US residents withdrawing BTC or fiat makes them a money transmitter.

The banning of US persons was most likely related to margin trading, margin lending, and a subset of listed coins potentially being classified as "securities" by the SEC.

The CFTC looked into their business practices in 2014/2015, and fined them based on their margin trading practices. Presumably, if there were concerns about their "money transmission" practices, the CFTC or another regulator would have stepped in.

you know nothing about the financial system. you are just a shill.

[gentlemand]

https://www.wsj.com/articles/bitfinex-used-tether-reserves-to-mask-missing-850-million-probe-finds-11556227031?mod=rsswn

https://www.theblockcrypto.com/2019/04/25/ny-attorney-general-sues-bitfinex-and-tether/

Not the greatest look but perhaps this means the Ifinex cancer will finally be sliced out. It's one of the very last holdouts of the scum phase of BTC's early days. Sad that it may turn out to be one of the biggest piss takes of all as well.

[Quickseller]

https://www.wsj.com/articles/bitfinex-used-tether-reserves-to-mask-missing-850-million-probe-finds-11556227031?mod=rsswn

https://www.theblockcrypto.com/2019/04/25/ny-attorney-general-sues-bitfinex-and-tether/

Not the greatest look but perhaps this means the Ifinex cancer will finally be sliced out. It's one of the very last holdouts of the scum phase of BTC's early days. Sad that it may turn out to be one of the biggest piss takes of all as well.

That doesn’t look good.

[gentlemand]

That doesn’t look good.

Sure don't, but it looks like the killer blow was landed by them trusting some other scum bags with most or all of their fiat. It looks like they were a sound operation until that happened. They don't seem to have a very good track record with third parties a la Bitgo and their hack.

It seems Tether was solid. Bitfinex's attempts to plug yet another theft screwed it from the bottom up. Maybe that's when they adjusted the terms of its backing to 'nice things' rather than dollars.

[Quickseller]

That doesn’t look good.

Sure don't, but it looks like the killer blow was landed by them trusting some other scum bags with most or all of their fiat. It looks like they were a sound operation until that happened. They don't seem to have a very good track record with third parties a la Bitgo and their hack.

It seems Tether was solid. Bitfinex's attempts to plug yet another theft screwed it from the bottom up. Maybe that's when they adjusted the terms of its backing to 'nice things' rather than dollars.

It looks like they were desperate to be able to transact in fiat and entrusted perhaps all their USD to a random entity.

I have long wondered why bitfinex has had such a hard time maintaining banking relationships when other exchanges haven't had this trouble. Maybe it is because they allow for anon accounts.  

edit:

It looks like some of the stolen coins from August 2016 are on the move today: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This could be a good opportunity for the Aug hacker to sell back the coins since bitfinex is in need of money

[gentlemand]

I have long wondered why bitfinex has had such a hard time maintaining banking relationships when other exchanges haven't had this trouble. Maybe it is because they allow for anon accounts.  

To go more legit they'd have to reveal more about their ownership, structure and finances and they have never shown any inclination to do that. They seem to have adopted the policy of having burner accounts rather than trying to cultivate any ongoing relationships. If they took the time to listen to what a bank wants from them rather than wading in and raping it until they're closed they might have gotten somewhere. The present situation is the culmination of that.

This is the email they sent out today.



Dear Bitfinex trader,

By now, you may be aware of the events of the last 48 hours, but I want to personally give you an update on what has happened and how we are proceeding as a business.

On Wednesday, April 24th, the New York Attorney General’s office filed a petition and related documents in the NY State Supreme Court in Manhattan concerning Bitfinex and Tether. We believe the petition was based on understandings and materials received by the New York Attorney General’s office both from us and from other sources. Indeed, we had, until just yesterday, been co-operating fully with the New York authorities in their inquiries into and about our business. The petition and other materials were filed without notice to us or a chance to respond to them.

The materials, which do not constitute a civil or criminal complaint are, in our view, filled with inaccuracies and false assertions. In particular, we want to assure you that the allegation that we have “lost” $850 million is categorically false. We have been advised that these amounts – whether in whole or in substantial part – are, in fact, seized and safeguarded in several jurisdictions, including Poland, Portugal, the United Kingdom, and the United States. We are actively working to exercise our rights and remedies to cause those funds to be released. We are confident in our ability to make clear, coherent, and convincing arguments to recover those funds. And rest assured that we will vigorously challenge the false assertions made by the New York Attorney General’s office in their filing.

I am here to tell you that we are good actors in the digital token space, and we always act with you, the customer, as our first priority. We have always taken our legal obligations very seriously, and will continue to do so. We continue to co-operate with regulators worldwide as they seek to learn more about our business. But we will not allow that spirit of co-operation and goodwill to be used to threaten our customers.

In the days ahead, you may have questions that arise, and we encourage you to share them with me or other members of the senior management team. We will update you as and when we can and we will address as many of your concerns and questions as we can.

We have been humbled and encouraged by the support we have seen from our customers and wider community in the face of these allegations. We are here to assure you we’re as strong as ever, we are not going anywhere, and we’re unwaveringly committed to you.

Thanks and best regards, Jean Louis van der Velde CEO

[malevolent]

In particular, we want to assure you that the allegation that we have “lost” $850 million is categorically false. We have been advised that these amounts – whether in whole or in substantial part – are, in fact, seized and safeguarded in several jurisdictions, including Poland, Portugal, the United Kingdom, and the United States. We are actively working to exercise our rights and remedies to cause those funds to be released. We are confident in our ability to make clear, coherent, and convincing arguments to recover those funds.

I don't know about other countries, but over a year has passed since Polish authorities have frozen $371M of Bitfinex's money due to an ongoing international criminal drug money laundering investigation. 'We have been advised' means they don't know much and aren't in control of the situation. Years may pass before they get the money back, sans the drug money portion.