BchainTalk Forum - Community for Blockchain Believers

Join like-minded people in a collaborative culture to share & learn.

Latest topics
» Expert on Blockchain-backed firms David Drake Joins DOVU Advisory Board
Yesterday at 11:35 pm by Vladdirescu

» Russian Prosecutors Called In Burger King to Explain The Nature of Their Cryptocurrency
Yesterday at 5:33 pm by Vladdirescu

» Stash: Next Generation Cryptocurrency For Everyday Transactions In The Real World
Yesterday at 2:04 am by Vladdirescu

» Spheris Blockchain-based Application Distribution Platform Launches Crowdsale
Wed Sep 20, 2017 8:54 pm by Vladdirescu

» Blockchain Startup Aims at Decentralizing the Filmmaking Industry
Wed Sep 20, 2017 1:27 am by Vladdirescu

» Lescoin ICO: The Huge Project In Russia's Free Investment Zone
Tue Sep 19, 2017 11:27 pm by Vladdirescu

»  Understanding What an ICO Is And Why Government Wants to Regulate It
Tue Sep 19, 2017 9:43 am by Vladdirescu

» HydroMiner : Cryptocurrency Mining Using Green Energy in the Alps
Sat Sep 16, 2017 5:46 pm by Vladdirescu

» Verif-y, Blockchain-based Identity Platform Announces Token Sale
Sat Sep 16, 2017 3:44 am by Vladdirescu

» Revolutionary Lottery Platform at the Final Stage of Implementation
Fri Sep 15, 2017 8:43 pm by Vladdirescu

» DOVU Board Welcomes Two New Advisors to Blockchain-powered Mobility Project
Fri Sep 15, 2017 2:09 am by Vladdirescu

» Flitpay - Best bitcoin wallet in india
Thu Sep 14, 2017 3:38 pm by rakesh889

» Which is the most valuable Blockchain startup ?
Thu Sep 14, 2017 3:34 pm by rakesh889

» Reality Clash Launches Token Sale Competition
Wed Sep 13, 2017 3:24 am by Vladdirescu

» UK’s Financial Watchdog Releases Warning of ICO Risks
Tue Sep 12, 2017 11:48 pm by Vladdirescu

» UTRUST’s Blockchain Payments Platform Could Provide US $3.7 Trillion Boost to Emerging Economies
Tue Sep 12, 2017 8:40 pm by Vladdirescu

» The Future of Blockchain Tech and Cryptocurrencies Discussed at Eastern Economic Forum
Tue Sep 12, 2017 3:56 am by Vladdirescu

» China Planning a War Against Cryptocurrency Trades
Tue Sep 12, 2017 12:05 am by Vladdirescu

» Rivetz and Telefonica Partner to Improve Mobile Device Security
Sun Sep 10, 2017 1:17 am by Vladdirescu

» Speech-to-Text Platform Heralds Power Shift of Blockchain Technology
Sat Sep 09, 2017 12:02 am by Vladdirescu


World's 2nd largest Exchange- BITFINEX nearing a fateful end?

View previous topic View next topic Go down

World's 2nd largest Exchange- BITFINEX nearing a fateful end?

Post by blockano on Mon Apr 17, 2017 9:15 pm

The lack of licensing on part of BITFINEX led to some trouble in 2016 as CFTC decided to fine them some $75,000 for “offering illegal off-exchange financed retail commodity transactions and failing to register as a futures commission merchant.”

The exchange, for example, froze twice around June last year, leading to a price crash in bitcoin of around $100 each time.

In August 2016, the exchange was hacked out of nearly 120,000 bitcoins.

Wells Fargo, an intermediary bank, has stopped processing Bitfinex’s transfers, which may mean money can’t move.
This may be a dangerous situation, similar to MT Gox’s predicament just a few months before it declared bankruptcy in 2014. We still don't know what exactly happened at Mt. Gox, but the exchange was at the time very much in the eyes of regulators and enforcement agencies, which froze their dwolla funds, with banks then seemingly taking action.

Following CFTC’s fine, BITFINEX now appears to be courting regulator’s attention, with Wells Fargo’s action seemingly suggesting banks may be moving in.

I'm just worried about how to go about Margin Trading if our beloved BITFINEX (also) falls through?????

_________________
Blockchain is my first love
avatar
blockano

Posts : 8
Reputation : 5
Join date : 2017-04-15
Age : 21

View user profile http://www.blockriti.com

Back to top Go down

Re: World's 2nd largest Exchange- BITFINEX nearing a fateful end?

Post by Martina32 on Mon Apr 17, 2017 10:17 pm

Bitfinex Sues Wells Fargo Over Bank Transfer Freeze alleging that the bank has prohibited four Taiwan-based banks that do business with Bitfinex from completing outbound wire transfers. The banks in question, according to the filed complaint, are KGI Bank, First Commercial Bank, Hwatai Commercial Bank and Taishin Bank.

http://www.coindesk.com/bitcoin-exchange-bitfinex-sues-wells-fargo-over-bank-transfer-freeze/

Martina32

Posts : 11
Reputation : 0
Join date : 2017-04-15

View user profile

Back to top Go down

Re: World's 2nd largest Exchange- BITFINEX nearing a fateful end?

Post by Martina32 on Mon Apr 17, 2017 10:18 pm

There's still hope my friend. Hope Bitfinex doesn't share Mt. Gox's fate

Martina32

Posts : 11
Reputation : 0
Join date : 2017-04-15

View user profile

Back to top Go down

Re: World's 2nd largest Exchange- BITFINEX nearing a fateful end?

Post by Sponsored content


Sponsored content


Back to top Go down

View previous topic View next topic Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum