Announcements

Unused Financing Fee
January 09, 2017

A recent analysis of user behavior has revealed several attempts to artificially inflate funding rates for certain currencies through a particular pattern of taking and returning funding. The pattern and scale of these user actions indicate systematically manipulative behavior. Such behavior is strictly prohibited.

To prevent exploitative behavior and to protect traders and lenders, Bitfinex is adjusting how fees are handled in these situations.

Effective immediately, the platform will charge one full day’s interest on any funding that is borrowed and subsequently returned without being used in a financed position. This change will not impact most traders or funding providers. It will act to dissuade manipulative behavior and ensure fair platform use for all.

Platform monitoring tools will continue to detect disruptive, distortionary, or manipulative borrowing practices in order to maintain the best possible environment for traders and funding providers. Please note that levying this new fee does not endorse or condone this behavior. It is still impermissible, and we reserve the right to take further punitive measures as we deem necessary to ensure the integrity of the financing platform. Specifically, users subject to this fee may be flagged for further investigation and may be subject to further sanction, at our discretion.

If you have any questions about how this may affect your trading or financing activities, please reach out to [email protected] and we will happily help you.

Over The Counter (OTC) Trading Desk
December 21, 2016

Many traders have expressed interest in the ability to make larger trades directly with a counterparty without having to go through the public order books.

To make that possible, Bitfinex is pleased to officially announce the launch of our new Over The Counter (OTC) Trading Desk. Through our OTC desk, traders will be able to access digital currency liquidity without affecting the exchange market price.

Introduce Bill Brindise

Heading up our desk is Bill Brindise, the former Chief Trading Officer of DigitalX. He brings with him over three years of digital currency trading experience and contacts throughout the industry. Before trading digital currencies, Bill spent 18 years trading and brokering energies and metals on the NYMEX floor and in the OTC markets. With over 20 years of trading and sales experience, Bill is the ideal candidate to lead our OTC desk and support future innovation at Bitfinex.

Two ways to take advantage of the OTC desk

  1. Access instant liquidity through Bill Brindise at [email protected].
  2. Trade directly with another Bitfinex user.

In addition to facilitating OTC trades, Bill will be the product manager for the OTC platform facility as well as our upcoming daily auction product.

To get started, visit The OTC Desk.

Zcash Now Available for Margin Trading
December 20, 2016

On October 28th, 2016 Bitfinex added Zcash as a new trading currency. At that time only exchange (spot) trading was enabled.

Now, both of the Zcash trading pairs - ZECUSD and ZECBTC - are available for margin trading and margin funding for non-US users.

Zcash is a relatively new cryptocurrency. Until order book liquidity further develops, margin trading Zcash will require 100% initial margin and 50% maintenance margin. This means that users will be able to open margin trading positions equal in value to the collateral held in their margin wallet and adds the option to open short positions for ZECUSD and ZECBTC. As the market develops, these parameters will be readjusted to allow for leveraged margin trading, both long and short.

Faster Deposits
December 20, 2016

When it comes to trading, time is a critical component. You need to be able to react fast when the market moves.

Starting today, we are offering up to 300% faster deposits on cryptocurrencies for all verified and shareholder users.

To become verified or learn about how to become an investor, visit the Verification or Equity pages.

Below is an overview of the new deposit confirmation requirements.

  Unverified Verified Investor
Bitcoin 3 2 1
Ether 100 50 30
EtherClassic 150 75 50
Zcash 15 8 6
Monero 15 12 10
Litecoin 6 5 4
Tether 3 2 1
Redemption of 1.75% of BFX Tokens
December 05, 2016

We are pleased to announce the redemption of 1.75% of outstanding BFX tokens.  This redemption was applied pro rata to all wallet balances on December 5, 2016 at 18:00:00 UTC.  The redemption does not apply to margin long or short positions - only on settled wallet balances. The amount of the redemption is based on a combination of October's operating results and a reduction in our contingent liability reserves, a breakdown of which will be forthcoming along with an update on recent conversions.

We continue to press forward on all fronts to expeditiously retire BFX tokens through equity conversion with qualified token holders, raising new capital through equity financing, operating profits, and prudent reductions in contingent liability reserves.  We look forward to sharing further developments with you in due course.

New currency Monero to be enabled on Wednesday, November 30th
November 30, 2016

Monero deposits and withdrawals will be enabled on Wednesday, November 30th at 18:30 UTC. Two new currency pairs will be available for exchange trading: XMRUSD and XMRBTC.

To learn more about Monero please visit the Monero Project website: https://getmonero.org.

Planned Downtime For Site Maintenance and Updates
November 03, 2016

On Thursday, November 3rd, at 15:30 UTC we will be undergoing planned downtime for platform maintenance and updates.

This substantial update will encompass over 50 new features and optimizations. We expect the update to take up to 90 minutes but may be completed in under an hour. We will be posting updates on Statuspage, Twitter, and Reddit (/r/bitcoinmarkets).

In the hours before the planned upgrade, we will be monitoring market activity closely. If the market is relatively calm, we will proceed with the update. However, if the market is highly active, we may choose to postpone the update so as to not adversely affect the market. During this period of monitoring, we will be posting constant updates on whether or not the updates will proceed as expected.

To view images and video demos of some of the new features (including new chart tools, price alerts, and interface improvements) check out the changelog for this release.

Redemption of 1.5% of BFX Tokens
November 02, 2016

We are pleased to announce the redemption of 1.5% of outstanding BFX tokens.  This redemption was applied pro rata to all wallet balances on November 2, 2016 at 15:00:00 UTC.  The redemption does not apply to margin long or short positions - only on settled wallet balances. The amount of the redemption is based on a combination of October's operating results and a reduction in our contingent liability reserves, a breakdown of which will be forthcoming along with an update on recent conversions.

We continue to press forward on all fronts to expeditiously retire BFX tokens through equity conversion with qualified token holders, raising new capital through equity financing, operating profits, and prudent reductions in contingent liability reserves.  We look forward to sharing further developments with you in due course.

New currency Zcash to be enabled on Friday, October 28th
October 27, 2016

On Friday, October 28th we will enable support for Zcash deposits and withdrawals. Shortly after we will create two new trading pairs for Zcash: ZECUSD and ZECBTC.

Please note that initially, we will support TADDR addresses, i.e., all deposits and withdrawals will need to be to/from addresses starting with a "T."

What is Zcash?

Zcash is a new permissionless financial system that provides some compelling features such as the possibility of sending confidential transactions using a novel cryptographic method to verify payments.

Learn more about Zcash and the project's roadmap at z.cash.

ETC hard fork announcement
October 24, 2016

To protect against the ongoing attacks first targeting Ethereum and now Ethereum Classic, the Ethereum Classic Project announced a hard fork scheduled for ETC block 2,500,000, approximately 05:20 AM UTC Tuesday, October 25th.

Bitfinex users holding ETC do not need to take any special actions; balances will automatically be migrated to the new chain.

We will temporarily disable ETC deposits and withdrawals about 20 minutes before the hard fork will take place. Trading will continue as usual during this period. As soon as the hard fork has been completed and the Ethereum Classic network has returned to normal operations, deposits and withdrawals will start being processed again.

ETC owners who wish to maintain full control themselves over which chain to keep their ETC balances on should withdraw their ETC to a local wallet before withdrawals will be deactivated. We will not be processing withdrawals on the deprecated chain and are not responsible for returning any ETC from the deprecated chain back to users.

More details on the hard fork are available in the announcement published on the Ethereuem Classic blog post.