Bitfinex is aware of an unpublished and non-peer reviewed paper falsely positing that Tether issuances are responsible for manipulating the cryptocurrency market.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.
We're pleased to announce that Bitfinex and Ethfinex will merge the respective trading volumes of each platform on 17/09/19 10:00 AM (UTC).
The pooling of trading volume takes place as Ethfinex evolves to DeversiFi with the closure of Ethfinex.com on 12/10/2019.
Our clients will be able to reach a higher fee tier, thereby obtaining lower trading fees.
The merger will also ensure a seamless transition for our Ethfinex clients on to the Bitfinex platform without the risk of any loss to the previous volume generated on Ethfinex.
We are pleased to announce that Bitfinex will support the Ethereum Classic (ETC) hard fork. The ETC hard fork, called "Atlantis", will take place when the block height reaches #8,772,000 (on approximately 13/09/2019), according to an announcement on the ETC website.
Please deposit your ETC to Bitfinex in advance to ensure the safety of your digital assets. Bitfinex will handle all technical matters relating to the hard fork on your behalf.
Deposits and withdrawals will be suspended on 12/09/2019 at 08:00AM (UTC). Services will be resumed when the ETC mainnet is stable. Please refer to our further announcements on the resumption time. During this period, the ETC held in your Bitfinex account will not be affected.
We are pleased to announce that Bitfinex has launched the Bitcoin to Tether CNH (BTC/CNHt),Tether USD to Tether CNH (USDt/CNHt) and offshore Chinese yuan to Tether CNH (CNH/CNHt) trading pairs.
Tether's CNHt is a new stablecoin pegged to the offshore Chinese yuan (CNH), and recently introduced to the Ethereum blockchain as an ERC-20 token.
Bitfinex has enabled full support for CNHt deposits and withdrawals. Trading in BTC/CNHt, USDt/CNHt and CNH/CNHt pairs began 10/09/19 at 11:00 AM (UTC), with clients now able to deposit, place orders and make withdrawals.
Trading is available only in certain jurisdictions, and is exclusive to verified users.
Bitfinex and BitSpread are proud to announce that Tether, a stablecoin pegged to the US dollar (USD), can now be used to subscribe to services on BlockBerry.com, a wealth management and cryptocurrency trading platform.
Run by BitSpread, BlockBerry provides institutional investors, family offices, wealth managers and high net-worth individuals with access to cryptocurrency investment strategies.
BlockBerry is a tiered service platform that provides users with professional, high quality cryptocurrency trading services such as ready-to-trade and bespoke algorithms and, click-through trading.
For more information on BlockBerry: https://blockberry.com
iFinex Inc., owner of leading digital asset exchange Bitfinex, has launched a new platform to expand its product capabilities, and become a one-stop shop for a wide range of trading services. iFinex Financial Technologies Limited, registered in the Seychelles, will offer the new products to eligible Bitfinex account holders.
Bitfinex CTO Paolo Ardoino said: "We are excited about the possibilities for creating new, previously unavailable products through our new platform. The new platform expands our ever growing portfolio and cements Bitfinex as a market leader in innovation."
For further information contact the support team at https://cs.bitfinex.com
Bitfinex will be performing a system upgrade on Monday, September 2nd designed to enhance the stability and scalability of the iFinex infrastructure and new trading products.
The upgrade is set to commence at 8:30AM UTC and services will be offline for about two or three hours. Please note that this is a rough estimate and the precise time may change slightly based on market movements.
The platform upgrade will require taking all iFinex trading platforms offline for the duration of the maintenance period. This means that traders across both Bitfinex and Ethfinex will be unable to trade, view or obtain access to their wallets during the update.
We kindly ask all our traders to plan ahead accordingly and make the necessary account adjustments prior to the start of the platform upgrade.
What this means for traders
Traders on Bitfinex will not be required to take any action:
For more information on the day of the upgrade, please refer to the Bitfinex status page and Twitter account for official progress. We will let our users know five minutes before the platform reopens. Trading will start ten minutes after the platform is accessible again.
We appreciate your patience during the system upgrade and look forward to presenting you with an improved trading experience.
We're excited to announce the launch of three new stablecoin pairs on the Bitfinex platform!
Trading for USD Coin to Tether (USDc/USDt), Paxos Standard to Tether (PAX/USDt) and TrueUSD to Tether (TUSD/USDt) began 08/27/19 at 8:00 AM (UTC).
Trading on these three pairs is available only in certain jurisdictions and is exclusive to verified users.