Bitfinex

The On-chain data chart shows a bizarre trend whereby entities' net growth is still rising despite the Bitcoin price dropping from its all-time high of $65k.  The current data is even higher than the 2017 net growth before the price of Bitcoin came crashing down after a high of 25k. As expected, the net growth went down, but this is not the case for Bitcoin at the moment. What is Causing the Weird Movement? Net growth of entities is defined…

Bitfinex and Tether have settled the legal dispute with the New York Attorney General Office (NYAG) that began in 2019. As part of the settlement, the crypto firms have agreed to pay $18.5 million to the New York state regulator.  End To A Protracted Legal Dispute The New York Attorney General Office revealed the settlement agreement in a statement released today. The lengthy report highlighted the entire legal dispute process that began in 2019. In April 2019, the NYAG office charged…

In a recent announcement, Bitfinex launched a P2P lending platform - Bitfinex Borrow. The platform will enable users to lend or borrow crypto assets in a peer-2-peer manner. Those looking to borrow can obtain a loan in either USDT or USD against their Bitcoin or Ethereum holdings as collateral. How does it work? The platform currently offers two interest rate models for borrowing - Variable & Fixed Rate. On the one hand, the variable rate varies from 5.5% to 18.25%…

Bitfinex is one of the oldest and most respected blockchain-based exchanges in the world. This platform was built to provide digital asset investors trading services when the market was still in its infancy stage. In this way, Bitfinex introduced a true peer-to-peer experience to the market years before most people even knew about Bitcoin. As one of the pioneers in the spaces, Bitfinex has seen significant success. Today, it’s one of the world’s top exchanges. Specifically, the platform is considered…

Anyone hanging around the crypto space in 2023 will recall the meteoric rise of all crypto assets, BTC and ETH, especially, which peaked at $69,000 and $4,500, respectively. The entire bull run was by the BTC halving, ETH's rampant innovation, and, most importantly, the DeFi and NFT craze. Since then, the crypto market has been in a 1-year-long recovery phase, with thousands of projects leaving the scene and even more coming up. Since the bull run, one of the leading…

Part of the Bitcoin stolen by hackers from a hack against cryptocurrency exchange Bitfinex in 2016 has been moved. The hackers did not touch the funds worth millions of dollars for about four years. The movement of the funds was noted by Whale Alert, a Twitter bot that tracks the movement of large trades. It was carried out in twenty transactions and the value of each transaction was between 18 and 33 Bitcoin. The transaction with the lowest value was worth $184,868 while the highest was worth…

Reports have it that Bitcoin holdings on one of the renowned cryptocurrency exchange Bitfinex have reduced by 66k over the previous four weeks. As of Mar. 17 this year, the number of Bitcoins held in the exchange was 200,140. However, the number declined by 33 percent to only 134,091 Bitcoin by Apr. 13. This huge decline is similar to the experience with another exchange BitMEX, which recorded a 38 percent reduction in its number of Bitcoin holdings following the massive flash crash that…

Coinbase stated that it witnessed a tidal wave of deposits in the 48 hours after Bitcoin’s plunge on the 12th of March 2020. The crypto exchange saw its highest Bitcoin buying numbers in the last one year. Coinbase posted a recovery from its drop to $3800 with bullish sentiment presenting before Bitcoin reached $7800, which may contribute to a further upward push, after the block reward halving coming in the short term. Reports reveal that retail Bitcoin purchasing on Coinbase…

Bitfinex, a major digital currency exchange, announced on Tuesday the deployment of Shimmer, a proprietary surveillance tool to combat market abuse on the crypto trading and promote orderly trading. Bitfinex is a popular crypto trading platform for integrating the latest innovative tech to deliver high-performance trading solutions to its users. Paolo Ardoino, CTO at Bitfinex, said on Twitter that Bitfinex has chosen to develop its state-of-the-art surveillance system to meet the complex demand of an evolving digital asset class and…