Tag Archives: Bitfinex

According to analysts at Bitfinex, crypto is undoubtedly gaining more traction globally. Moreover, considering the current state of the crypto market, especially with asset prices, it appears that even more global acceptance is on the way for crypto. Bitfinex analysts have made a bold prediction about the number of users that we might expect to see in the crypto industry come 2024. Their prediction, which was detailed in a recent report suggests that the number of crypto users may be...

In response to a New York Freedom of Information Law (FOIL) request initiated by Coindesk, Tether and Bitfinex announced dropping their opposition. According to the official blog post on November 24th, the decision underscored the companies’ “commitment to transparency” within the crypto sector, which aligns with the broader intention to maintain a balanced approach to document release. While emphasizing the core principle of transparency, Tether and Bitfinex, in a joint...

A United States judge has concluded the dismissal of a class action lawsuit against stablecoin issuer Tether and its affiliate crypto exchange Bitfinex, two years after the plaintiff made a move against the firms. According to a blog post, Chief Judge Laura Taylor Swain of the U.S. District Court for the Southern District of New York denied Shawn Dolifka’s motion for leave to amend the class suit. Dolifka has now chosen not to appeal the judge’s decision. The Class Suit...

It is important to note that when a government agency seizes a crypto asset, it does not immediately own the assets. Ownership transfers only after a court ruling in favor of forfeiture. The United States government is among the largest Bitcoin (BTC) holders in the industry, with over 200,000 of the crypto assets stashed away in a hardware wallet controlled by the Department of Justice (DOJ), International Revenue Services (IRS), and other agencies in the country. According to a public...

iFinex, the owner of popular cryptocurrency exchange network BitFinex and collaborator with Tether Holdings Ltd, reportedly unveiled a $150 million share buyback plan. This new announcement marks a significant milestone for the company’s growth, history, and efforts to make amends for its tainted history. The $150 Million Share Buyback Plan As per the reports, iFinex has offered a $10 per share buyback price for 15 million shares, representing only 9% of the network’s...

The proposal outlines a deal that encompasses roughly 9% of iFinex’s outstanding capital and assigns a value of $1.7 billion to the company. As per the latest report, the parent firm of the Bitfinex exchange – iFinex Inc – has started exploring a $150 million share buyback, as per the letter written to shareholders on September 22. The directors of iFinex have proposed an offer of $10 per share for 15 million shares. The document notes that a group of directors within iFinex and its...

Heather Morgan and Ilya Lichtenstein were a couple back in New York last year that tried to launder as much as $4.5 billion in bitcoin stolen from a hack on the Bitfinex crypto exchange that occurred in the year 2016. They were arrested for their roles in the incident in 2022 and now appear all set to plead guilty in the case. Heather and Ilya Are not Going to Fight the Charges News of this first came to light when it was discovered that they were newly charged in...

Heather Rhiannon Morgan (aka “Razzlekhan”, 33) pled guilty to a money laundering conspiracy in connection with the 2016 Bitfinex hack on Thursday, which saw more than 119,756 Bitcoin (BTC) robbed from customers. This came moments after her husband, Ilya “Dutch” Lichtenstein (35), pleaded guilty to being the man behind the hack itself. Bitfinex Hacker Confirmed In Washington, D.C., federal court, Lichtenstein confessed to both stealing and laundering the funds, officially...

CoinspeakerCoinbase to Explore Adding Bitcoin Lightning Network for Global Crypto Payments While Coinbase is still planning to leverage the Bitcoin Lightning Network, the company's rival Binance already completed the integration of the L2 network last month. Coinbase to Explore Adding Bitcoin Lightning Network for Global Crypto Payments

The latest weekly publication of Bitfinex revealed that bitcoin (BTC) balances on centralized exchanges have retraced to levels last seen in January/February 2018. Bitfinex found that the balances have plunged by 32% from the 3.1 million BTC peak in March 2020 to 2.1 million now. At writing time, only 11% of BTC’ circulating supply was found on exchanges, indicating a significant decrease from the 17% recorded in March 2020. Bitcoin Balances on Exchanges Plummet The leading...