• Bitfinex launches crypto payments platform
    Bitcoin,  Ethereum,  Technology,  Tether

    Aiming at PayPal, Bitfinex launches crypto payments platform

    Saying that it intends to take on payments “behemoths” the new Bitfinex Pay app lets merchants accept payments in four cryptocurrencies

    No one ever accused Bitfinex of having small ambitions. Just days after it settled a years-long fraud lawsuit with New York’s attorney general over a loan it got from sister company and stablecoin issuer Tether, Bitfinex has launched a crypto-powered online-payments platform to take on payments giants like PayPal.

  • Bitfinex repays tether
    Bitcoin,  Regulation

    Bitfinex repays $750M Tether loan, but lawsuits remain

    The cryptocurrency exchange paid off the remaining $550 million it borrowed from its sister company after being robbed—a loan that led to fraud and market manipulation lawsuits

    Tether’s undisclosed loan led New York State Attorney General Letitia James to sue the companies and their parent iFinex for fraud, conflict of interest, and violation of New York’s securities laws in civil court for failing to make clear that Tether’s USDt stablecoin was no longer backed one-to-one by U.S. dollars.

  • Bitfinex launches Ethereum 2.0 staking
    Ethereum

    Crypto exchange Bitfinex launches Ethereum 2.0 staking service

    The exchange’s users are now able to earn staking rewards on their ether holdings, supporting the fledgling proof-of-stake version of Ethereum

    The transition to the Ethereum 2.0 proof-of-stake (PoS) blockchain is a long-awaited, and long-delayed, move to deal with the No. 2 blockchain’s growing congestion, which is causing delays and very high transaction costs. It will also be a much more eco-friendly version of Ethereum, which currently burns through almost as much electricity for mining as the entire country of Slovenia uses annually.

  • Cryptocurrencies,  Tether

    Bitfinex launches ETH and BTC loans

    The cryptocurrency exchange’s users will now be able to borrow bitcoin and ether using fiat currency or stablecoins as collateral

    Bitfinex customers can now use fiat currencies such as the United States dollar, the euro or the Japanese yen, as well as the tether (USDt) stablecoin issued by Bitfinex’s sister company Tether, as collateral to obtain a loan in BTC. ETH loans, on the other hand, can only be financed by the United States dollars that the borrower holds on the platform.