bitfinex Cryptocurrency News Tether 

Tether Fires Back at ‘Embarrassing’ Bitcoin Manipulation Study

Tether has fired back at the authors of a study who claimed that the 2017 bull market was triggered by Bitfinex. The Tether team claims that the authors do not know how the cryptocurrency market functions. Tether assures that it never conducted activities with the purpose of manipulating the cryptocurrency market. Tether issued an official response to a research paper that claimed that a single market whale on Bitfinex manipulated the price of bitcoin in 2017. A Lone Bitcoin Whale On Nov. 4, Bloomberg shared a study that claimed that…

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Bitcoin Exchange bitfinex Cryptocurrency News kim dotcom 

Bitfinex Postpones Kimcoin’s Token Sale Until Further Notice

Bitfinex postponed the sale of Kimcoin indefinitely. The regulatory framework in the industry is affecting initial exchange offerings. Kim Dotcom tried to avoid countries within the U.S. jurisdiction. Bitfinex, a Hong Kong-based cryptocurrency exchange, announced its decision to postpone the initial exchange offering (IEO) of Kimcoin, the native cryptocurrency of the content monetization platform Halting Kimcoin Token Sale On Nov 5, Bitfinex revealed in a blog post that the first IEO on the rebranded platform Bitfienx Token Sales, formerly known as Tokinex, would not take place. The decision was…

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Altcoin News bitcoin bitfinex Cryptocurrency News Tether 

Bitfinex Sparks Controversy Allegedly Manipulating $20,000 Bitcoin Price High

Bitfinex, which shares co-founders with the Tether stablecoin, is once again attracting controversy over the manipulation of the Bitcoin price. Per a paper published by the University of Texas Professor John Griffin and Ohio State University’s Amin Shams, Bitcoin’s run to a record high near $20,000 in 2017 was caused by a single market whale. Bitfinex whale manipulating Bitcoin price surges Initially reported by Bloomberg, the paper, which is an update on an earlier one by the same authors, states that the single market whale operates on Bitfinex with the…

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Bitcoin Exchange bitfinex Cryptocurrency News New York Supreme Court Tether 

Bitcoin Buyers Bask in Latest Legal Defeat for Bitfinex & Tether

The New York Supreme Court ruled that the matter between the state’s Attorney General and Bitfinex parent company iFinex can continue. The bitcoin price rose 5 percent in response. | Source: Shutterstock; Edited by CCN By CCN Markets: The bitcoin price moved higher on new legal developments in the ongoing wranglings involving Bitfinex and Tether. On Monday, the New York Supreme Court ruled that the matter between the state’s Attorney General and iFinex can continue. It’s the parent company of the exchange Bitfinex. The ruling paves the path for the…

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Bitcoin Crime bitfinex Crypto Exchanges Reggie Fowler 

Ex-Minnesota Vikings Owner Ensnared in Massive Bitcoin Scandal

By CCN: One of bitcoin’s biggest scandals just keeps growing more bizarre, as reports now indicate that former Minnesota Vikings co-owner Reginald “Reggie” Fowler finds himself ensnared by the scheme. The U.S. Justice Department charged Fowler – who also helped bootstrap the now-defunct Alliance of American Football – over his role in concocting a shadow banking scheme that entailed the processing of hundreds of millions of dollars of unregulated transactions on behalf of several cryptocurrency exchanges, as CCN reported. One of those bitcoin exchanges – Bitfinex – allegedly misused the…

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bitcoin Bitcoin Exchange bitfinex Crypto Tether 

Only 74% Backed by Cash, How Will Bitcoin React?

By According to an affidavit filed with the Supreme Court of the State of New York by Stuart Hoegner, the general counsel to Tether and major bitcoin exchange Bitfinex, only 74 percent of Tether’s holdings are backed by cash. “As of the date [April 30] I am signing this affidavit, Tether has cash and cash equivalents (short term securities) on hand totaling approximately $2.1 billion, representing approximately 74 percent of the current outstanding tethers,” the affidavit read. The affidavit sparked debates within the cryptocurrency community. Some industry executives argued…

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bitfinex Crypto stablecoins Tether 

NY AG Alleges Bitcoin Exchange Misused Tether to Hide $850M

By CCN: The office of New York Attorney General Letitia James has officially obtained a court order to request iFinex Inc, the operator of bitcoin exchange Bitfinex and Tether, to cease operations in New York. The Attorney General’s office found that Bitfinex allegedly handed over $850 million in co-mingled client and corporate funds to Crypto Capital Corp, a company based in Panama. Bitfinex is said to have never received the funds from the Panamanian firm, leading to the loss of more than $850 million. The Attorney General’s office alleged Bitfinex…

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