Bitfinex, strongly refutes allegations of insolvency

[Paha87]

Bitfinex strongly denied claims that the crypto-exchange and its subsidiary Tether, which issues USDT tokens, are on the verge of insolvency. Rumors have surrounded the non-transparent exchange for over a year, but last month there were new statements, amid the company's banking services. "Bitfinex is not insolvent, and a steady flow of articles to a Medium that claims otherwise, nemenee this," - says the strongly-worded refusal.

In recent days, rumors about the possible insolvency of Bitfinex and Tether have circulated in the crypto-sphere and now the crypto-exchange has taken a step, breaking the silence. In the article published today, Bitfinex strongly denied all the unfounded claims and spoke in the direction of critics who "quickly shout insolvency, apparently not understanding the meaning of this concept and what they say."

As proof of this, Bitfinex has placed the address of its BTC, ETH and EOS wallets. They contain nearly $ 1 billion in BTC, $ 400 million in ether (ETH) and $ 200 million in EOS. Since the bulk of these assets are supposedly customer deposits, this doesn't really prove that Bitfinex is solvent. In addition, even the most persistent critics of the platform do not deny that Bitfinex has significant cryptocurrency assets. Rather, critics were concerned about the exchange's banking arrangements and, in particular, raised the insurmountable question of whether THE usdt tokens, which are in circulation for $ 2.8 billion, are supported by dollars.

"Targeted campaign based on nothing but fiction»
Bitfinex did not put out arguments in an attempt to refute rumors about its business, writing only that critics are leading a "targeted campaign based only on fiction," and insisting that "customer deposits work fine." The crypto exchange also insists that anything that can happen to Noble Bank from Puerto Rico servicing the exchange's accounts is not a problem.

It was found that Bitfinex is now working with HSBC through an intermediary, although it is unclear whether HSBC is aware of this due to funds going through a private account with Global Trading Solutions.

Bitfinex currently is 12th in the trading volumes of crypto currency exchange, has acknowledged that she suffers from banking problems, recognizing:

Complications continue to exist for us in the field of Fiat transactions. However, we continue to do our best to minimize the waiting time associated with the Deposit and withdrawal of Fiat.

Link to the source of information (Russian) - https://altstake.io/news/bitfinex-reshitelyno-oprovergaet-zayavleniya-o-nesostoyatelynosti