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

[PrimeNumber7]

I just read this announcement from Bitfinex: https://www.bitfinex.com/posts/465
Why is there such a big announcement only because some crypto hedge fund is using Bitfinex? Is this hedgefund more involved with Bitfinex than just being a customer so that this announcement is actually relevant to other Bitfinex clients (e.g. regarding risk assessment)?
I noticed from the anouncement that both, this hedge fund and Bitfinex, are tied to Deltec (the Bahamans-based bank providing banking service to Tether).

My guess is that most customers of this size are leaving platforms rather than joining/getting on border onto platforms since the last bubble burst. A potentially nine figure customer is something that would generate confidence for other customers to create accounts and trade on Bitfinex. 

[figmentofmyass]

I just read this announcement from Bitfinex: https://www.bitfinex.com/posts/465
Why is there such a big announcement only because some crypto hedge fund is using Bitfinex?

i guess it's supposed to lend bitfinex some legitimacy? "this big hedge fund trusts us, you should too!"

Is this hedgefund more involved with Bitfinex than just being a customer so that this announcement is actually relevant to other Bitfinex clients (e.g. regarding risk assessment)?
I noticed from the anouncement that both, this hedge fund and Bitfinex, are tied to Deltec (the Bahamans-based bank providing banking service to Tether).

maybe fulgur alpha is really controlled by the same people who are behind bitfinex/tether, and this is their new method for pumping cryptocurrency markets. too many eyes on tether right now.

the ties to deltec don't have to be shady though. it could just be because of mutual banking connections, and for convenience and liquidity reasons.

[mich]

Bitfinex to Delist 87 Crypto Trading Pairs Aiming to Improve Liquidity
https://www.bitfinex.com/posts/466

“The decision was taken after monitoring [the pairs] for six weeks and finding a consistent low level of liquidity. We take this type of action to concentrate trading in fewer pairs.”

https://cointelegraph.com/news/bitfinex-to-delist-87-crypto-trading-pairs-aiming-to-improve-liquidity

[mich]

Crypto Exchange Bitfinex Unveils Anti-Manipulation Tool ‘Shimmer’

“Comprehensive market and trade surveillance capabilities are integral to operating a leading cryptocurrency exchange. [...] Bitfinex has chosen to develop its own state-of-the-art surveillance system. This will help to assure that potentially manipulative practices are rooted out and suspicious behaviour detected.”

https://cointelegraph.com/news/crypto-exchange-bitfinex-unveils-anti-manipulation-tool-shimmer

[babykika2027]

Bitfinex is finally developing new things. Bank card support, lightning network support, staking...
And there are still guys with KYC problems and long withdrawals. I hope that they will resolve it

[mich]

Bitfinex Made a $1.1 Billion BTC Transaction for only $0.68

When someone transferred 161,500 Bitcoin (BTC) on April 10 for a fee of only 0.00010019 BTC — approximately $0.68 — the crypto world took notice.

https://cointelegraph.com/news/bitfinex-made-a-11-billion-btc-transaction-for-only-068

[countryfree]

Bitfinex to Delist 87 Crypto Trading Pairs Aiming to Improve Liquidity
https://www.bitfinex.com/posts/466

“The decision was taken after monitoring [the pairs] for six weeks and finding a consistent low level of liquidity. We take this type of action to concentrate trading in fewer pairs.”

https://cointelegraph.com/news/bitfinex-to-delist-87-crypto-trading-pairs-aiming-to-improve-liquidity

Smart move.

I understand exchanges want to look big by offering deals with the largest possible choice of cryptos, but you have to realize that you can count on your fingers the number of cryptos which aren't sh*tcoins.

[Bellarg]

Bitfinex Made a $1.1 Billion BTC Transaction for only $0.68

When someone transferred 161,500 Bitcoin (BTC) on April 10 for a fee of only 0.00010019 BTC — approximately $0.68 — the crypto world took notice.

https://cointelegraph.com/news/bitfinex-made-a-11-billion-btc-transaction-for-only-068

Thaths could be possible only in crypto.
They should implement the same fee size for bank card purchase to be honest with users.

[mich]

Bitfinex, Tether Seek Subpoenas Across US in Hunt for Missing $800M

The Bitfinex crypto exchange is making a new push to find and potentially recover more than $800 million in user funds seized by legal authorities in four different countries after its payment processor’s bank accounts were frozen.

https://www.coindesk.com/bitfinex-tether-seek-subpoenas-across-us-in-hunt-for-missing-800m

[squatter]

“As we have said before, Bitfinex is the victim of a fraud and is asserting its rights to funds taken by Crypto Capital through legal measures initiated in various countries,” he said through a spokesperson.

More than trying to recover the money, this is likely about Bitfinex trying to distance themselves from this:

However, the president of Crypto Capital, Ivan Manuel Molina Lee, was arrested by Polish authorities in October and charged with being a member of an international gang laundering up to 1.5 billion złoty or about $390 million “from illegal sources.” Authorities wrote that Molina Lee’s crimes included “laundering dirty money for Columbian drug cartels using a cryptocurrency exchange.”

I don't think they really believe the money is recoverable. What does subpoenaing the banks achieve? The big problem is that law enforcement agencies -- including the US Department of Justice -- seized the money. Even if Bitfinex could prove ownership of funds within Crypto Capital's tangle of shell companies, they will have a hard time proving the money was not involved in criminal activity.

[mich]

Bitfinex Derivatives Launches Bitcoin Dominance Perpetual Swaps

“Bitcoin has proven time and time again to be a safe haven for traders and it is continuing to be seen as digital gold. Since global markets crashed in March as the COVID-19 crisis took hold, we have seen a huge increase in trading volume, reaching over $2B over a 24-hour period during the crash on March 13th. We believe the demand will still be there after the halving whilst the supply will be halved."

https://cointelegraph.com/news/bitfinex-derivatives-launches-bitcoin-dominance-perpetual-swaps

[mich]

Bitfinex is Constantly Printing More Tether, None Of It Has Ever Been Burned

“It’s pretty clear that most of Tether is used on centralized exchanges, namely Huobi, Binance and Bitfinex. The constant movement back and forth between users and these exchanges reflects the fact that Tether is mostly used for arbitrage. Users can easily make a profit by buying from one exchange and selling on another for a higher price.”

https://cointelegraph.com/news/bitfinex-is-constantly-printing-more-tether-none-of-it-has-ever-been-burned

[microsurfer]

Bitfinex is Constantly Printing More Tether, None Of It Has Ever Been Burned

Tether volume is contantly growing of course they need to print more especially after bank card support on bitfinex

[mich]

Data Appear to Contradict Bitfinex’s Dwindling Bitcoin Deposits Narrative

Bitfinex’s Bitcoin deposits diminished by 135,000 BTC and data appears to contradict the exchange’s rationale for this occurrence.

https://cointelegraph.com/news/data-appear-to-contradict-bitfinexs-dwindling-bitcoin-deposits-narrative

[exstasie]

Data Appear to Contradict Bitfinex’s Dwindling Bitcoin Deposits Narrative

Bitfinex’s Bitcoin deposits diminished by 135,000 BTC and data appears to contradict the exchange’s rationale for this occurrence.

https://cointelegraph.com/news/data-appear-to-contradict-bitfinexs-dwindling-bitcoin-deposits-narrative

The arbitrage narrative is silly and wouldn't explain why two thirds of their cold storage has left the exchange. Those kinds of gaps normally fill quickly unless there is a deeper systemic withdrawal problem. Bitfinex prices have kept quite close to Bitstamp and Coinbase so I see no signs of that.

I'm not particularly alarmed. As expected, there was a huge exodus from both Bitmex and Bitfinex after the March crash. Extreme volatility and massive liquidations tend to have that effect on margin exchanges:

During the same time period, Bitcoin balances across other exchanges shrank by 315,000 BTC. Bitfinex’s share represents 43 percent of this decrease, and BitMex represents a further 31%. These two exchanges were responsible for nearly 75% of the trend.

The decline in cold storage across exchanges in general could also indicate that long term investors bought the dip in March and withdrew their holdings from exchanges.

[mich]

Bitfinex Launches Open-Source Crypto-Powered Streaming Protocol

Veteran cryptocurrency exchange Bitfinex has announced an open-source peer-to-peer data streaming platform that will allow users to share media across a decentralized network.

https://cointelegraph.com/news/bitfinex-launches-open-source-crypto-powered-streaming-protocol

[birr]

Bitfinex is scary.  I haven't used the exchange in a long time.  The other day I deposited some coin, did a little trading, and then tried to withdraw.
First of all, pages never load.  I can sit waiting five or ten minutes, longer sometimes, it just never loads.  So I refresh, or log out and log in again.  Eventually, after much pain, the damn thing loads.  
As an experiment I decided to open the withdrawal page again (or try to) and see how long it really takes:  as I'm typing this, I've been waiting 20 minutes for the withdrawal page to load.
It isn't my wifi.  My computer and browser work fine.  Other web pages load quick.

So, about that withdrawal.
I got the email, confirmed the withdrawal, and waited.  After a few hours no tx, so I logged in.  My withdrawal shows as having canceled.  And my balance is zero.
This is more than four btc we're talking about.

Has bitfinex turned into some kind of train wreck?

[malevolent]

Has bitfinex turned into some kind of train wreck?

Were they ever a perfect exchange? Haven't used them in a long while now but they now not only ask for KYC but also about source of funds.

https://www.reddit.com/r/Bitcoin/comments/aw95wt/my_bitfinex_withdraw_is_locked_they_ask_me_the/

Could be the same thing here. Maybe try again or with a smaller withdrawal, if it doesn't then you probably have to contact them and see what they want from you.

But pages shouldn't take this long to load, try a different browser if it still runs like that.

[PrimeNumber7]

Has bitfinex turned into some kind of train wreck?

Were they ever a perfect exchange? Haven't used them in a long while now but they now not only ask for KYC but also about source of funds.

https://www.reddit.com/r/Bitcoin/comments/aw95wt/my_bitfinex_withdraw_is_locked_they_ask_me_the/

Could be the same thing here. Maybe try again or with a smaller withdrawal, if it doesn't then you probably have to contact them and see what they want from you.

But pages shouldn't take this long to load, try a different browser if it still runs like that.

Bitcoin has become mainstream enough so that major businesses that deal in large amounts of coin have to obtain KYC/AML information about customers who are dealing with large amounts. This is especially true for businesses who need to also use any part of the banking system, even indirectly.

Any business that looks the other way when it comes to money laundering is going to have difficulty staying in business and continuing to access the banking system.

[mich]

Bitfinex Lists Dogecoin After TikTok Fad Sends DOGE Price Over $0.005

Dogecoin sees fresh gains before correcting to $0.004 as Bitfinex appears to capitalize on TikTok excitement.

https://cointelegraph.com/news/bitfinex-lists-dogecoin-after-tiktok-fad-sends-doge-price-over-005