When crypto sells off, the market doesn’t so much walk down the stairs as it slips on the first step and discovers there never were any handrails. Everyone knows why: perps are a stadium, options are a side alley, and insurance in a storm is hard to buy. Paolo Ardoino, the CTO of Bitfinex, knows […]
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Rising margin bitcoin longs show confidence despite bitcoins ongoing correction.
BTC has tumbled nearly 9% this week, while ETH, SOL declined even further and XRP outperformed.
Despite her social-media suggestions that President Donald Trump let the rapper out earlier from her Bitfinex hack sentence, an official said that's not the case.
Crypto community members alleged that the majority of the deposit campaign was already occupied by large wallets before the announcement.
USDT issuer Tether has added a significant amount of Bitcoin to close out the third quarter, a development that has caught the attention of the crypto community. Tether’s CEO, Paolo Ardoino, also confirmed this purchase, as the company ranks among the largest BTC treasury companies. Tether Adds 8,889 BTC To Bitcoin Holdings Arkham data shows that Tether bought 8,889 BTC for $1 billion, with the coins transferred from Bitfinex’s hot wallet to the USDT issuer’s Bitcoin reserves wallet. The company now holds 86,335 BTC, which is valued at $10.23 billion. Ardoino also confirmed the purchase in an X post, highlighting their effort to keep accumulating BTC. Related Reading: Bitcoin Price Reaches ‘Critical Junction’: How A Rally To $139,000 Would Play Out BitInfoCharts data shows that Tether is currently one of the largest Bitcoin holders, controlling 0.4% of the flagship crypto’s supply. Meanwhile, based on BitcoinTreasuries data, the USDT issuer will rank as the second-largest BTC treasury company, just behind Michael Saylor’s Strategy. Notably, Tether also has more Bitcoin exposure through its stake in Twenty One Capital (XXI), which is currently the third largest BTC treasury company, behind Strategy and Mara Holdings. XXI holds 43,514 BTC on its balance sheet, some of which it received from Tether as part of the USDT issuer’s investment. Meanwhile, Tether has made it clear that it intends to continue buying as much Bitcoin as possible. Ardoino stated last month that while the world continues to become darker, they will continue to invest part of their profits in safe assets like BTC, gold, and land. This came as he clarified that his company wasn’t selling Bitcoin to buy more gold but was instead buying both assets for their reserves. It is worth mentioning that Tether generates the most revenue among crypto protocols. DeFiLlama data shows that the stablecoin issuer has earned $22.27 million in revenue in the last 24 hours and $155.27 million in the last seven days. As such, the firm makes enough profits to keep buying BTC. The Bottom For BTC Notably, Tether’s latest Bitcoin purchase came just as the BTC price bottomed out. The USDT issuer had bought these coins when the flagship crypto was trading at around $110,000. Since then, BTC has staged a parabolic rally, beginning this month with a gain of around 6%. Bitcoin had dropped to as low as $108,000 about a week ago. Related Reading: These Analysts Predicted The Bitcoin Price Crash And Their Forecasts Say It’s Not Over Bitcoin is expected to record significant gains this month based on historical data. October is its second-best performing month, recording average gains of 20% over the years. Factors like a Fed rate cut could also help spark massive gains for the flagship crypto. At the time of writing, the Bitcoin price is trading at around $118,400, up over 3% in the last 24 hours, according to data from CoinMarketCap. Featured image from Getty Images, chart from Tradingview.com
Most altcoins including ETH, SOL, AVAX, UNI posted declines Tuesday but bitcoin was flat after a late rally.
BTC/USD longs on Bitfinex frequently move inversely to bitcoin’s price action.
BTC is on the brink of losing a key level that could see prices plunge to $93,000 before a stronger final quarter, Bitfinex analysts cautioned.
Tuesday's CPI inflation data, followed by PPI report later this week, could make or break bitcoin's momentum, Bitfinex analysts said.
Bitcoin’s on-chain activity lit up again as Blockstream CEO Adam Back alerted the Bitcoin community to the return of the so-called “Bitfinex whale.” According to Back, this unknown but powerful entity has been accumulating Bitcoin at a staggering rate, purchasing roughly 300 BTC per day over the past 48 hours using time-weighted average price (TWAP) […]
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Bitcoin’s rally paused ahead of the U.S. CPI release, with analysts warning that hotter inflation could extend the pullback.
Bitfinex Securities has introduced two tokenized equity offerings with a combined value of £105 million (around $143 million), according to a June 25 statement shared with CryptoSlate. The listings, TITAN1 and TITAN2, were issued by Ctrl Alt and represent the first equity-based tokens available on the Bitfinex Securities exchange. The Astana Financial Services Authority regulates […]
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An ex-FBI agent who led landmark crypto investigations is joining TRM Labs’ team.
"When Long Positions drop, the price usually goes up," said one analyst.
Most U.S. markets were closed for Monday's holiday, but European stocks reacted positively to Trump's moratorium on 50% tariffs.
Since the start of the year, bitcoin holdings bought on margin on Bitfinex have increased by over 13,000 BTC.
The US Department of Justice (DOJ) has stated that around $9 billion in Bitcoin, taken from the crypto exchange Bitfinex in a 2016 hacking incident, ought to be returned to the exchange. This claim arises from a legal document submitted by the DOJ, which indicated that there are no recognizable victims in this specific case within the existing legal structure. Bitfinex To Potentially Reclaim Stolen Bitcoin The court documents, submitted on Tuesday, explain that the recovery of the stolen Bitcoin—specifically 94,643 BTC, along with amounts from various hard forks—should be returned to Bitfinex. The DOJ argued that under the Mandatory Victim Restitution Act (MVRA), there is no legal basis to classify Bitfinex or its account holders as victims of the specific offenses for which the defendants were convicted. Related Reading: What Bitcoin Election Patterns Could Signal For Its Price Ahead Of January 20 Inauguration The defendants, Ilya Lichtenstein and Heather Morgan, were convicted of Money Laundering Conspiracy, but crucially, they were not charged with the initial hack that resulted in the theft of the Bitcoin. According to the DOJ, their subsequent actions did not directly cause the losses incurred by Bitfinex. The legal definition of a “victim” as stated in the MVRA requires a direct and proximate harm resulting from the commission of a specific offense, which in this case reportedly does not apply. Legal Challenges In Crypto Asset Recovery The DOJ’s filing emphasizes that, while no mandatory restitution can be ordered under the current convictions, the court retains the authority to grant voluntary restitution. This means that, as part of their plea agreements, the defendants have agreed to return the stolen assets to Bitfinex. The restitution order proposed by the DOJ would encompass all funds recovered from the Bitfinex Hack Wallet. While this ruling marks a potential financial windfall for Bitfinex, it also opens the door for further legal complexities. The government is in the process of a third-party ancillary forfeiture proceeding to address other seized assets linked to the defendants’ laundering activities. These additional assets, which were involved in complex laundering schemes, may not be categorized as specific property lost by Bitfinex and its account holders. Related Reading: XRP Bullish Surge Takes Price Within Striking Distance Of $2.9 The 2016 Bitfinex hack, one of the largest in cryptocurrency history, has had lasting repercussions, leading to ongoing debates about regulatory standards and victim restitution in the digital asset space. As this situation develops, the parties involved in the case will be focused on the court’s ultimate ruling about the return of the seized Bitcoin and its impact on the future of cryptocurrency regulation and restitution methods for future cases. The DOJ’s efforts aim not only to address the financial losses experienced by Bitfinex but also to clarify the legal ramifications related to digital asset theft. At the time of writing, Bitcoin has managed to regain its bullish momentum with a 4% rise in the past 24 hours towards the $99,100 level. Featured image from DALL-E, chart from TradingView.com
Due to a prior reimbursement plan from Bitfinex, many victims of the 2016 hack do not legally qualify as victims eligible for reimbursement.
The remaining 25,000 bitcoins stolen in the 2016 hack must be returned through a more complex claims process.
The U.S. government says bitcoin stolen in the 2016 hack of Bitfinex should go back to the exchange, in a court document filed this week.
Bitcoin’s price is primed for a breakout before the end-of-month FOMC meeting, but it could go either way, says a crypto analyst.
The self-described "misfits anthem" emerges as the 18-month sentence nears for her role in laundering the crypto horde that now would be worth $11 billion.
Bitfinex Derivatives has taken a big step forward by getting a Digital Asset Service Provider (DASP) license in El Salvador. With this move, the platform can now offer more derivatives trading services in Latin America. With this license, Bitfinex plans to take advantage of El Salvador’s support for crypto to set up shop in the […]
The moves of the Bitfinex whales have been reliable indicators for moves in the price of Bitcoin itself, as explained by this analyst. Bitfinex Whales Have Shown Smart Money Behavior In Recent Years In a new post on X, analyst James Van Straten has discussed about the trend in long Bitcoin positions present on the […]
In a direct address to the public, Ilya Lichtenstein, who pleaded guilty last year to charges connected to the 2016 theft of approximately 120,000 Bitcoin from the crypto exchange Bitfinex, issued a new statement on Thursday refuting alleged third-party involvement in the hack. His five-minute video, posted to X, represents Lichtenstein’s first publicly available statement […]
Ilya Lichtenstein urged his social media followers not to blame his wife — also implicated in money laundering — for the 2016 Bitfinex hack.
In a video posted to X, Ilya Lichtenstein reiterates he acted alone in stealing 120,000 bitcoin, denying a Netflix documentary's speculation.