Tether Fined By Regulators For Lying About Fiat Reserves

Tether was hit with more legal repercussions amid rising concerns about its fiat currency backing. The stablecoin issuer is set to pay $41 million as settlement for allegations that it lied about its reserves. In the same case, Bitfinex received an accompanying charge. The CFTC Strikes against Tether and Bitfinex The news dropped this Friday when the Commodity and Futures Trading Commission (CFTC) issued a press release on the matter. Earlier in the day, the agency settled charges against Tether,…

Tether Scores Major Legal Win in Trillion Market Manipulation Case

Market manipulation by significant exchanges throughout the world has been a critical issue for most crypto traders. More so, the underdogs in the crypto industry are at a wild toll. Crypto whales only require to move a massive amount of crypto to determine how the marketing strategies go. Recently, Tether and Bitfinex found themselves in a spot concerning the same. Both blockchains have been in a fix. The two professors acting as plaintiffs declared their lawsuit against Tether and Bitfinex…

DeversFi Refunds Extra-Charged Gas Fees on Bitfinex

Bloomberg said Bitfinex paid $23.7 million in gas fees to deposit $100,000 on the Tether blockchain. Reports also revealed that the exchange was moving millions from the network to a decentralized exchange DeversiFi, and accidentally suffered an inflated gas fee. However, recent reports from DeversiFi show the platform is ready to make the refund. Bitfinex Makes a Quest-Riddled Crypto Trade Bitfinex, one of the world's most controversial crypto exchange platforms, made an eyebrow-raising trade on Monday that involved unrealistic gas fees. Recent reports suggest the exchange was moving…

Bitcoin Chart Shows Crypto Whales are Influencing On-chain Data Trends

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 Agrees $18.5M Settlement Fee with NYAG

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…

Bitfinex Borrow: Another P2P Crypto Loan Platform

In a recent announcement, Bitfinex has 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 is currently offering two interest rate models for borrowing - Variable & Fixed Rate. On the one hand, variable-rate varies from 5.5% to 18.25%…

What is Bitfinex Exchange? – An Easy to Follow Review for New Users

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…

Top 4 Native Crypto Exchange Tokens

Increasing Number of Crypto Exchange Tokens Anyone hanging around the crypto space in 2017 will recall the meteoric rise of all crypto assets, BTC and ETH, especially, which peaked at $20,000 and $1,400, respectively. The entire bull run was by the BTC halving, ETH’s rampant innovation, and, most importantly, by the ICO craze. Since then, the crypto market has been in a 3-year long recovery phase with thousands of projects leaving the scene and even more coming up. One of…

Hackers Have Moved Bitcoin Worth $4 million Stolen From Bitfinex in 2016

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…

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