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

[gentlemand]

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.

Funny how on top they can be about 'compliance' but when it comes to the people they choose to entrust vast amounts of money to they'll jump into the arms of the first sweet talker who'll come along.

The quotes from that court document are pitiful. Someone with a silly name pleading for $100 MILLION of their own dollars on Telegram from someone else with a silly name like it's a fucking CSGO skin or something.

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[mayax]

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.

it doesn’t look good ? really??      

you always said that Bitfinex is a legit company. who is the "mad" now, Quickseller ?

I warned about them since years ago.  Bitfinex is/was not a licensed company and they will be closed/seized.

Anyway, the Bitfinex responce is so fk funny :

"...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"      

In short: Dear Sirs, we did not lose $850M, they were just seized by law enforcement in various countries. Okay, we can't have access to them, so it's just as if we had lost them, but words are important.    LOL

why won't a group(Bitfinex) that describes itself as a good corporate citizen and a strong supporter of law enforcement get regulated?

[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.

it doesn’t look good ? really??     

you always said that Bitfinex is a legit company. who is the "mad" now, Quickseller ?

I warned about them since years ago.  Bitfinex is/was not a licensed company and they will be closed/seized.

Anyway, the Bitfinex responce is so fk funny :

"...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"     

In short: Dear Sirs, we did not lose $850M, they were just seized by law enforcement in various countries. Okay, we can't have access to them, so it's just as if we had lost them, but words are important.    LOL

why won't a group(Bitfinex) that describes itself as a good corporate citizen and a strong supporter of law enforcement get regulated?

If you are claiming to be right, I would say that a broken clock is correct for two minutes every day.

What happened to bitfinex does not at all match what you were saying.

[mayax]

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.

it doesn’t look good ? really??      

you always said that Bitfinex is a legit company. who is the "mad" now, Quickseller ?

I warned about them since years ago.  Bitfinex is/was not a licensed company and they will be closed/seized.

Anyway, the Bitfinex responce is so fk funny :

"...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"      

In short: Dear Sirs, we did not lose $850M, they were just seized by law enforcement in various countries. Okay, we can't have access to them, so it's just as if we had lost them, but words are important.    LOL

why won't a group(Bitfinex) that describes itself as a good corporate citizen and a strong supporter of law enforcement get regulated?

If you are claiming to be right, I would say that a broken clock is correct for two minutes every day.

What happened to bitfinex does not at all match what you were saying.

I said that they are NOT a licensed company for the financial operations that they are doing. I said that they are manipulating the price and they are making frauds. Which one doesn't match?

Of course, I am not expecting for a shill with "Trust: -8178" to admit that.

[Hueristic]

Fuck the Fiat, at least they didn't steal seize the BTC as more Dumping Ammo.

I bet it goes up TPTB arses that they can't.

[mayax]

Fuck the Fiat, at least they didn't steal seize the BTC as more Dumping Ammo.

I bet it goes up TPTB arses that they can't.

fiat is all it matters. 

[birr]

I said that they are manipulating the price and they are making frauds.

[CjMapope]

damn
THAT escalated quickly eh? :/
while i can agree that alot of that 850 mil has been in gov seizure a long time b4 this, they still have im sure ALOT of uncounted for stuff
this was expected.
this isn't 2015 anymore, you can't run an exchange without following proper KYC laws...

ugh

[mayax]

So Bitfinex lost 850 Million (seized).
We know the total marketcap is fake numbers. If the masses use exchanges to withdrawal to fiat those exchanges will shutter due to lack of real usd money hence why this is a ponzi of a system that can t sustain

[countryfree]

you can't run an exchange without following proper KYC laws...

Customers' integrity isn't the issue here, we're talking about the integrity of the exchange (or the people managing the exchange).

I wish you could buy and sell BTC at a bank, or in some good old-fashioned brick and mortar store.

[gentlemand]

https://bitcoinexchangeguide.com/new-report-ousts-bitfinexs-plans-of-raising-1-billion-in-bizarre-initial-exchange-offering/

Bitfinex are planning to do an IEO according to a fella who's had plenty of dealings with them. My money will be remaining in my own pocket, ta.

[Quickseller]

https://bitcoinexchangeguide.com/new-report-ousts-bitfinexs-plans-of-raising-1-billion-in-bizarre-initial-exchange-offering/

Bitfinex are planning to do an IEO according to a fella who's had plenty of dealings with them. My money will be remaining in my own pocket, ta.

Thr author doesn’t appear to understand the plan. The plan, if real, would be to sell equity in either Bitfinex, tether or both and use the proceeds to repay the loan from tether.

I have no idea if the report is true or not.

[gentlemand]

The author doesn’t appear to understand the plan. The plan, if real, would be to sell equity in either Bitfinex, tether or both and use the proceeds to repay the loan from tether.

I have no idea if the report is true or not.

Also reported from Coindesk but it looks like it's from the same source ultimately - https://www.coindesk.com/bitfinex-is-planning-to-issue-an-exchange-token-shareholder-says

I would've thought a concerted and transparent plan regarding getting the supposedly seized money back would be healthier, but there's no point in expecting that from them.

[figmentofmyass]

https://bitcoinexchangeguide.com/new-report-ousts-bitfinexs-plans-of-raising-1-billion-in-bizarre-initial-exchange-offering/

Bitfinex are planning to do an IEO according to a fella who's had plenty of dealings with them. My money will be remaining in my own pocket, ta.

i've read a couple articles about this and i'm confused. an IEO for what exactly?

is it basically a revamp of their 2016 scheme---issue BFX tokens that represent shareholder equity in ifinex, then sell those tokens in order to pay off the $850m losses? they figure it worked in 2016 so why not now, right?

so what happens the next time a half billion dollars gets frozen? they'll just keep issuing tokens? sounds legit......

[gentlemand]

is it basically a revamp of their 2016 scheme---issue BFX tokens that represent shareholder equity in ifinex, then sell those tokens in order to pay off the $850m losses? they figure it worked in 2016 so why not now, right?

I think that's it. I've never bothered to follow up on previous token type things. I presume they performed adequately enough to satisfy the weirdos who bought them. Presumably that poos all over multiple securities laws but in for a penny, in for a pound.

[Quickseller]

https://bitcoinexchangeguide.com/new-report-ousts-bitfinexs-plans-of-raising-1-billion-in-bizarre-initial-exchange-offering/

Bitfinex are planning to do an IEO according to a fella who's had plenty of dealings with them. My money will be remaining in my own pocket, ta.

i've read a couple articles about this and i'm confused. an IEO for what exactly?

is it basically a revamp of their 2016 scheme---issue BFX tokens that represent shareholder equity in ifinex, then sell those tokens in order to pay off the $850m losses? they figure it worked in 2016 so why not now, right?

so what happens the next time a half billion dollars gets frozen? they'll just keep issuing tokens? sounds legit......

If the basic facts in the articles are correct, they are raising money by selling equity. Current owners will end up with less percentage of the company.

On net, the customers are not affected because they can receive the total amount they have in deposit.

Binance was hacked multiple times last year, loosing a billion dollars plus and used reserves to cover the losses. I am having trouble finding a link to support this. I believe it was late 2017 or early 2018

[malevolent]

Binance was hacked multiple times last year, loosing a billion dollars plus and used reserves to cover the losses.

Wait, what? Source? Or are you talking about a different exchange?

[CryptoReggae]

Binance was hacked multiple times last year, loosing a billion dollars plus and used reserves to cover the losses.

I don't know this, source?

[2xHR]

Binance was hacked multiple times last year, loosing a billion dollars plus and used reserves to cover the losses.

Binance was never hacked buddy or they didn't say it

[Ale88]

Binance was hacked multiple times last year, loosing a billion dollars plus and used reserves to cover the losses.

Link please.