Tagged: ifinex

Attendees at November Offshore Alert Conference in London Will Examine Whether Tether Cryptocurrency Enabled “Biggest Scam in the History of Finance”

Two hundred-fifty investigators, thirty speakers gathering and other attendees at the OffshoreAlert Conference on financial intelligence and investigations in London November 11th and 12th will have a chance to examine the role tethers played in creating “the largest bubble in human history,” the Bitcoin/crypto bubble… Read More

Enough Delays: New York Attorney General Asks That Crypto Exchange Bitfinex Be Ordered to Have Records Ready If Company Loses November Appeal

New York Attorney General Letitia James has asked a New York judge to order crypto companies iFinex, Bitfinex and Tether to have records ready and on hand, if they lose their November 4th appeal: “(T)he OAG respectfully requests that this Court…(to) issue an order that… Read More

Judge Grants Stay of Orders Compelling Business Records in Bitfinex Fraud Case

The ball is back in embattled crypto exchange Bitfinex’s court after a different presiding judge has granted a stay of orders compelling financial records pending an appeal. Cryptocurrency companies Bitfinex and Tether and parent company iFinex have been fighting ex parte orders issued in April… Read More

Still Undaunted by New York Investigation, Tether to Issue Offshore Yuan

Tether is continuing its bid to sell synthetic versions of world currencies by issuing yet another “stablecoin,” this time in the form of CNHT, which will act as a proxy for offshore Chinese yuan (CNH). Tether, its parent company iFinex and sister company, crypto exchange… Read More

New York Attorney General Says Bitfinex Crypto Exchange Should Have Required Records On Hand

Lawyers for Bitfinex, iFinex, and Tether, cryptocurrency companies currently under investigation for fraud in New York sent a letter to the presiding judging promising to appeal if the case against them is not dismissed. They also asked Judge Joel M Cohen to preclude them from having… Read More

Report: Tether Has Supplanted Bitcoin for Russia-China Commercial Remittances

An unnamed OTC trading desk in Moscow is selling up to $30 million USD in “tethers” per day to Chinese merchants sending proceeds home, Coindesk reports. Until 2018, the favoured currency for this type of transacting was reportedly Bitcoin, but Chinese merchants have lately started dumping… Read More

Bitfinex Lawyers Threaten to Appeal if Motion to Dismiss New York Fraud Case Denied

Lawyers for the crypto exchange Bitfinex (and associated companies iFinex and Tether) have sent a letter to the judge presiding over anti-fraud proceedings against them in New York threatening to appeal if the judge does not dismiss the case against them. The letter from Bitfinex… Read More

Bitfinex Fraud Case Extended 90 Days, Trading from New York “Easy”

Tenacious and liquid crypto exchange Bitfinex and affiliate companies had hoped that a fraud case brought against them by the New York Attorney General (NYAG) would be wrapped up this week. Instead, a formerly sympathetic judge has granted an extension, The Block reports. Bitfinex, iFinex, and… Read More

No New York Customers, No Jurisdiction: Bitfinex Crypto Exchange Says New York Fraud Case Weak

Bitfinex, iFinex, and Tether, cryptocurrency companies defending themselves against fraud allegations in New York, are claiming that the New York Office of the Attorney General (OAG) has failed to substantiate claims the companies facilitated trades for New York residents without being licensed to do so…. Read More

“Hybrid Decentralized Exchange” IDEX Delists Bitfinex’s LEO Token

IDEX, a “DEX” (decentralized exchange) registered in Panama and billing itself on Twitter as the “Number 1 Hybrid DEX on Ethereum,” has announced it is delisting LEO, a controversial exchange token created by Bitfinex. Bitfinex, it’s parent company iFinex and fellow subsidiary company Tether have… Read More

Hot Water Gets Hotter: NY Attorney General Claims Bitfinex Operated Unlawfully in New York Until 2019

The Attorney General of New York (NYAG) has submitted a memorandum in court documenting iFinex/Bitfinex/Tether’s “extensive ties to New York” and disputing the Seychelles-registered companies’ claims that New York authorities have no jurisdiction and that its fraud investigation is impeding business. iFinex and subsidiaries Tether… Read More

Kraken CEO: Media Reports and “Massive Inflows of Fiat” Inflating the Price of Bitcoins, Not Tethers

Jessie Powell, the CEO of the San Francisco-based cryptocurrency trading platform Kraken told TD Ameritraid Monday that real money pouring onto crypto exchanges fuelled Bitcoin’s recent price rise, not controversial synthetic USDs called tethers. Tether printing comes after fiat and not before, said Powell: “Recently,… Read More

Bitfinex Starts Buying Back LEO Tokens Issued to Cover Funds Seized by Law Enforcement

Bitfinex, a cryptocurrency trading platform and sister company to stable coin-issuer Tether, announced June 14th that buybacks of its LEO token, issued to help cover operational shortfalls, have begun. LEO token bought back are purportedly being “burned” (decommissioned) by the issuer. About a billion tokens… Read More

Bitcoins Stolen from Bitfinex and Dormant Since 2016 Start to Move

160 Bitcoins stolen in a massive hack on the Bitfinex cryptocurrency exchange in 2016 started moving across the blockchain late last week after being dormant for more than 2 years, Hard Fork reports. The cryptocurrency is part of a stash of 744 408 Bitcoins taken… Read More

Hot Water or Not: Embattled Bitfinex Crypto Exchange Launches IEO (Initial Exchange Offering) Platform

Bitfinex, a cryptocurrency trading platform dogged for years by controversy, is launching a platform for the issuing of IEOs (initial exchange offerings). IEOs are essentially a revamped version of the ICO (initial coin offering) except that rather than being sold directly to investors by issuers… Read More

Stakeholder Says Troubled Bitfinex Exchange Has Sold All One Billion IEO Tokens Issued to Cover $850 Million USD Seized

Chinese OTC Bitcoin trader Dong Zhao has once again taken to Chinese mega social platform WeChat to talk up an IEO (initial exchange offering) being issued by Bitfinex, the troubled cryptocurrency exchange in which Zhao reportedly holds equity, Coindesk reports. Bitfinex is owned by iFinex,… Read More

iFinex, Parent Company of Bitfinex and Tether, Asks Court to Void Ex Parte Orders Compelling Records and Freezing Funds

iFinex, parent company of the Bitfinex cryptocurrency exchange and creator of Tether, the world’s most popular “stablecoin” cryptocurrency, has asked a court in New York to “vacate” (render void) ex parte orders issued by the Attorney General of New York compelling iFinex to produce comprehensive… Read More

Bitfinex May Sell “Initial Exchange Offering” LEO Token Raising $1 Billion, Proceeds for “General Business Purposes”

Controversial cryptocurrency company iFinex, operator of several crypto exchanges and the issuer of billion-dollar “stablecoin,” Tether, has issued a “marketing document” outlining its plans to create a new IEO (Initial Exchange Offering) token, LEO, that the company may use to cover operating expenses and hypothetically… Read More

Tether Lawyer Admits the Stablecoin Only 74% Backed

A lawyer for iFinex, the company behind the Bitfinex cryptocurrency exchange and”stablecoin” Tether (USDT), has admitted in an affidavit that the company only has enough cash on hand to cover 74% of the tethers it has issued into cryptocurrency trading markets. In the affidavit, “Stuart… Read More

New York Attorney General Sends Letter to 13 Cryptocurrency Exchanges, Launches “Integrity Initiative” in Move to Protect Investors & Consumers

The New York Attorney General Eric T. Schneiderman has sent a letter to 13 different cryptocurrency exchanges. Described as a fact-finding inquiry into the policies and practices of platforms used by consumers to trade cryptocurrencies, the AG labeled the move the Virtual Markets Integrity Initiative. The… Read More

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