Since we announced the debut of Kimcoin on the Bitfinex Token Sale platform, the regulatory environment has rapidly evolved. The risks associated with raising funds for the K.im token sale have become clear, and we must put our community's best interest first and foremost.
After careful evaluation, we regret to announce that Bitfinex Token Sales and the K.im team have mutually agreed not to hold the token sale at this time. K.im will defer any decision on whether to create tokens on, or undertake a token issue in relation to the K.im platform until it is fully functional.
In the meantime, the K.im platform project itself will continue and it is likely that an equity based offer will be made some time in the near future to qualifying investors who wish to become involved at this stage of the project.
The K.im project, which has received remarkable support and has worked incredibly hard, will continue building and we look forward to following the team's progress!
We're excited to announce a platform update for our clients that brings new important features, following our recent introduction of Bitcoin withdrawals on bech32 addresses.
Traders can now generate bech32 addresses on Bitfinex, with our platform also supporting Bitcoin deposits to bech32 addresses.
As some exchanges still do not support withdrawals on bech32 addresses, our traders will have the option of using either the original Pay to Script Hash (P2SH) SegWit deposit address or native SegWit bech32 address. Traders can choose their desired option via a tick box on their Account Info page.
Bech32 is a SegWit address format specified by BIP 0173, with its address starting with the alphanumeric characters bc1. A bech32 address consists only of lowercase letters, thereby making each address not case-sensitive.
The launch of this new support for bech32 addresses demonstrates our commitment to developing and scaling Bitcoin, amid increasing use and adoption of the world's biggest cryptocurrency. SegWit increases Bitcoin's maximum block size, enables the processing of more transactions per second and fixes transaction malleability.
This also demonstrates Bitfinex's commitment to speeding up the adoption of SegWit for the benefit of Bitcoin and the wider cryptocurrency community.
Ampleforth is making two important updates to the way that the supply of AMPL changes. As of the 30th October 2019, the following two changes will come into effect:
The shorter reaction lag time means that global supply will reflect changes in the price of AMPL quicker. Whereas the new update time has been chosen in order to help decentralise the oracle.
The last rebase at the old time will occur on Tuesday 29th at approximately 8PM UTC as per normal.
The first rebase at the new time will occur on Thursday 31st October at 2AM UTC. Users who hold AMPL tokens in any of their Bitfinex wallets will see their AMPL balances adjust shortly after.
For more information, please see the Ampleforth blog post and our knowledge base.
We're excited to announce a platform update that brings new important features to Bitfinex traders.
Bitcoin Withdrawals to Bech32 Addresses
Bech32 is a Segwit address format specified by BIP 0173, with its address starting with the alphanumeric characters bc1. A bech32 address consists only of lowercase letters, thereby making each address not case-sensitive. This address format offers greater protection against typing errors.
Bitfinex has been supporting Bitcoin withdrawals on Pay To Script Hash (P2SH) wrapped addresses. This address format starts with the number 3.
As bech32 addresses only exist on the Bitcoin network, our new support for Bitcoin withdrawals to bech32 addresses removes the possibility of our clients experiencing any cross-chain mix-ups.
New Charting Tools for Derivatives Trading
The addition of these tools will provide added insight and real-time historical data, including:
Social Media Accounts Connection
It is now possible to connect your Bitfinex account to your Twitter account via bitfinex.com/account. This feature enables our clients to display their Twitter handle on the Bitfinex public leaderboards. In the near future, more social media channels and features will be integrated on to the Bitfinex platform.
Several months ago, Ivan Manuel Molina Lee, a principal of Crypto Capital, was detained by authorities in Greece. This week he was extradited to Poland to answer charges there. Also, Oz Yosef (also known as Oz Joseph), another principal of Crypto Capital, has been indicted on three criminal counts by the U.S. Attorney for the Southern District of New York. As has already been mentioned publicly in court filings, Crypto Capital processed certain funds for and on behalf of Bitfinex for several years. During that period, Bitfinex relied upon various systematic representations from Crypto Capital, including from Molina and Yosef, that proved to be false. Among those misrepresentations, Crypto Capital regularly referred to its integrity, banking expertise, robust compliance programme and financial licences. This was designed to assure us that Crypto Capital was capable of handling Bitfinex's transactions.
Bitfinex is the victim of a fraud and is making its position clear to the relevant authorities, including those in Poland and the United States. We cannot speak about Crypto Capital's other clients, but any suggestion that Crypto Capital laundered drug proceeds or any other illicit funds at the behest of Bitfinex or its customers is categorically false. This week's developments do nothing to affect or otherwise deter Bitfinex's claims to funds in Poland or anywhere else. We will continue to work to recover all funds for and on behalf of our stakeholders.
Deposits and trading of Data Transaction Token (XD) will be suspended today with immediate effect, as a result of XD no longer meeting our listing criteria. Withdrawals will remain open for 90 days.
After months of preparation we are excited to unveil the one-of-a-kind Bitfinex Affiliate Program.
The program's commission structure allows you to get a percentage of the trading fees up to three levels within your referral network. Furthermore, if your referrals meet the requisite criteria, you're also entitled to commission multipliers. You can track how much you earn and how your network performs in real time through the Affiliate Dashboard.
Our unique program enables you to add value to your community and social network. Crypto trading doesn't have to be a solitary pursuit. Be part of a flourishing crypto community with the Bitfinex Affiliate Program!
Find out more about the Bitfinex Affiliate Program and discover its full potential at https://www.bitfinex.com/affiliate
Bitfinex is aware of an unpublished and non-peer reviewed paper falsely positing that Tether issuances are responsible for manipulating the cryptocurrency market. Bitfinex vigorously disputes the findings and conclusions claimed by that source, which rely on flawed assumptions, incomplete and cherry-picked data, and faulty methodology.
We fully expect mercenary lawyers to use this deeply flawed paper to solicit plaintiffs for an opportunistic lawsuit, which may have been the true motive of the paper all along. In fact, we would not be surprised if just such a lawsuit will be filed imminently. In advance of any filing, we want to make clear our position that any claims based on these insinuations are meritless, reckless and a shameless attempt at a money grab. Accordingly, Bitfinex will vigorously defend itself in any such action.
These baseless accusations are an attempt to undermine the growth and success of the entire digital token community, of which Bitfinex and Tether are key parts. It is an attack on the work and dedication of not just Bitfinex's stakeholders, but thousands of our colleagues, too. Founded in 2012, Bitfinex is a digital asset trading platform offering state-of-the-art services for digital currency traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market and margin trading for a wide selection of digital assets. Bitfinex's strategy focuses on providing unparalleled support, tools and innovation for professional traders and liquidity providers around the world.
Bitfinex and its affiliates have never used Tether tokens or issuances to manipulate the cryptocurrency market or token pricing. All Tether tokens are fully backed by reserves and are issued and traded on Bitfinex pursuant to market demand, and not for the purpose of controlling the pricing of crypto assets. It is irresponsible to suggest that Tether or Bitfinex enable illicit activity due to the efficiency, liquidity and wide-scale applicability of Tether's products within the cryptocurrency ecosystem.
We're pleased to announce an important change to how the liquidation levels and funding payments are calculated on the derivatives products available on Bitfinex. An update to the price mechanism will apply to BTCF0/USDt0 and ETHF0/USDt0.
From 03/10/19 at 9:00 am UTC, we will use mark price to dictate the funding payments and liquidation levels of derivatives products, which will replace the actual futures price.
The mark price of derivatives will be based upon the BFX Composite Index (BFXCI), an index of prices obtained from several leading cryptocurrency exchanges in the BTC/USDt and ETH/USDt markets, respectively. The migration to mark price has undergone extensive backtesting from our risk management team.
We believe the use of mark price will significantly reduce the possibility of price manipulation on the derivatives products available on Bitfinex. This update will ensure that our clients have optimum transparency in a secure and fair trading environment.
We are excited to unveil Bitfinex Token Sales, a comprehensive digital assets offering and launch solution for high-quality crypto projects.
From today, Bitfinex Token Sales will replace our current IEO platform, Tokinex. We intend for all future Bitfinex Token Sales will include utility for holders of a certain amount of UNUS SED LEO.
To learn more about K.im, the first project to be launched on Bitfinex Token Sales visit our latest blog post.