<a href="https://en.wikipedia.org/wiki/Bitfinex">Bitfinex</a>, the 12th largest cryptocurrency exchange hub bluntly reacted to the accusations of insolvency and wavering banking issues by a medium of blog posted on 7th of October. In the last week, much has talked about the Bitfinex and its sharing firm Tether that their banking partner namely, Noble Bank International having a trusting issue on the exchange and its affiliation.
<blockquote>Much to the reader’s surprise, the exchange has clearly confirmed that, “Bitfinex has never dealt with ‘Noble Bank’ anytime in the past, thus, strictly denying the whispering allegations”. It further adds, ‘This literally hasn’t anything to do with our operations and transactions’.</blockquote>
Currently, there is a rumour that Bitfinex shares its banking solutions with HSBC, a 133-billion-dollar institution under a pen name ‘<a href="http://www.globaltradesolutions.net/">Global Trading Solutions’</a>. But, Bitfinex doesn’t assure about this too!

Meanwhile, Bitfinex is being put in light of fault by some critics who are claiming that, “Its fiat withdrawals are mostly unverified, thus, keeping user’s identity at stake”.

Some Medium post live on 6th October claiming the exchange as insolvent and hypocrite towards its fiat and crypto coin withdrawals popped up this hype. And in response, Bitfinex in a silent blunt made its move!

But the exchange has made a stand that, “The ounce of fake news can’t explain the exact truth about all the accusations thronged upon us”. Further to the statement, Bitfinex tried to somehow balance the claim by displaying its cryptocurrency holdings, namely, Bitcoin, Ethereum and EOS cold wallets (to global audience) that these do not cater to fiat holdings of any sort.

In this display, Bitfinex holds 148,467.26 BTC on 9th September, $382,071,909 ETH and $203,406,110 EOS in real time. This way the exchange has tried to shut some big mouths with its ‘explained crypto asset balance sheet’.
<blockquote>It further added that, ‘Our cryptocurrency and fiat withdrawals are uniform as always for U.S. dollars, Euros, Pounds Sterling, etc.’.</blockquote>
Bitfinex speaks, “How can some utter fake rumour justify the reality behind our working? We at our day-to-day process face the slowing pace of our fiat deposits and fiat withdrawals like any other booming exchange. We are already surrounded by our own shares of struggles. And out of the blues, some anonymous source is trying to whisper utter fake news about our exchange. That’s literally unacceptable!”.

Meanwhile, Bitfinex affiliating partner; Tether has come in this string of allegations and its pages are being unfold to everyone. Being a creator of USDT token which is valued to U.S. Dollar, Tether has its own shares of accusations as its involvement in price manipulations and of not being transparent on a whole.

Unknown observers are allegedly pin-pointing not only Bitfinex but even its affiliating partners! In this summer analysis, both have been alleged of not being fully audited.

In the midst of all this, Bitfinex one more chapter of the past shouts about its discontinuous banking relationships of April 2017.

The statements are coming at a time when all over the web Bitfinex is being put behind the bars of ‘insolvency’! What we readers, cryptocurrency enthusiasts and entrepreneurs make out of it?
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Some Anonymous Posts Has Claimed Bitfinex as Insolvent, But The Exchange Firmly Denies So!

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Some Anonymous Posts Has Claimed Bitfinex as Insolvent, But The Exchange Firmly Denies So!

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