Tag: bitfinex

Crypto Capital Executive Indicted in NY Court

  • Oz Yosef has been indicted for conspiracy to commit bank fraud, bank fraud, and conspiracy to operate an unlicensed money transmitting business.
  • The company's president, Ivan Manuel Molina Lee, has also been extradited to Poland on money laundering charges and suspicion of being part of an international drug cartel.

Bitfinex Attempting to Recover $880 Million

  • Bitfinex applied to subpoena a former banking executive of TCA Bancorp, who is believed to have documents of his communication with Crypto Capital.
  • The exchange says that Crypto Capital "used one or more accounts held at TCA Bancorp to facilitate the transfer of funds".

Bitfinex and Tether Accused of Crypto Market Manipulation

  • The complaint document claims that the two firms' market manipulation caused economic damages equal to more than a trillion dollars.
  • Days before the accusations were made Bitfinex released a statement, saying that it was expecting such a lawsuit.

Bitfinex and Ethfinex Join the IEO Business With a New Platform

  • The new IEO platform, called Tokinex, will announce its first token sale on May 23, and will require participants to register on its website, where they will receive KYC checks from BlockPass.
  • IEOs have started to emerge as an alternative model of token offering, which brings several advantages over an Initial Coin Offering.

Bitfinex Publishes Official LEO Token Whitepaper

  • A maximum sell cap of 1 billion USDT in LEO Tokens can be sold in the private trade.
  • LEO tokens will be used for obtaining discounts on trading fees when exchanging between cryptocurrencies on Bitfinex, EthFinex and EOSFinex.

Sale of $1 Billion Bitfinex Tokens Announced via Curious Document

  • Dovey Wan, founding partner of Primitive Ventures, reported that Bitfinex are planning to sell $1 billion worth of LEO tokens via an IEO.
  • LEO tokens are intended to be a temporary measure and to be bought back by the company.

DoJ Indictment Reveals Two Exchanges Allegedly Used Shadow Banking Services

  • In a statement, United States Attorney’s Office for the Southern District of New York alleged that Reginald Fowler and Ravid Yosef took part in a scheme, which involved using bank accounts to move money into unnamed crypto exchanges.
  • The two allegedly worked for several interconnected firms that provided multiple cryptocurrency exchanges with fiat banking services.

Bitfinex Allegedly Used Tether Funds to Cover $850 Million Loss

  • According to the press release, New York Attorney General Letitia James and her office obtained a court order against iFinex Inc, the operator of Bitfinex, Tether Limited, and their associated entities.
  • Executives of the exchange then allegedly engaged in a series of conflicting corporate transactions with Tether, in which Bitfinex got access to up to $900 million of Tether's cash reserves.

Bitcoin Long Bets Reached New 11 Month Highs

  • According to data from Bitfinex, one of the largest cryptocurrency exchanges in the world, bulls seem to be betting on Bitcoin.
  • Despite the rise of 35 percent in its long positions in the last three weeks, BTC shorts have remained mostly unchanged.

Blockchain Transparency Institute Report: Over 80% of Top BTC-Pair Trading Volume Is Fake

  • Every crypto enthusiast knows about Binance and Coinbase, yet for some reason, a glimpse into the CoinMarketCap top volume exchanges shows a surprising picture.
  • While this looks suspicious even to the naked eye, now our suspicions can be reaffirmed by a carefully conducted study by Blockchain Transparency Institute.