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 […]
The post Bitfinex launches groundbreaking equity tokens worth $143 million appeared first on CryptoSlate.
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.
In a report published on December 17, analysts at cryptocurrency exchange Bitfinex stated that a combination of rising institutional adoption of Bitcoin (BTC) and bullish technical indicators could push the leading cryptocurrency as high as $200,000 by mid-2025. The report also predicts that any price corrections during 2025 are likely to ‘remain mild.’ Bitcoin Pullbacks To Be Mild In 2025 Earlier this month, Bitcoin crossed the psychologically significant $100,000 price level, pushing its total market capitalization to slightly above $2 trillion at the time of writing. However, according to the latest edition of the Bitfinex Alpha report, BTC still has significant potential for growth heading into 2025. Related Reading: Bitcoin On Track For $275,000? Analyst Cites Cup And Handle Formation The report highlights several technical indicators, including market value to realized value (MVRV), net unrealized profit/loss (NUPL), and the bull-bear market cycle indicator, which collectively suggest that the market still reflects bullish momentum and is far from hitting euphoric peaks. According to Bitfinex analysts, while diminishing returns might temper Bitcoin’s extraordinary growth seen in previous cycles, the cryptocurrency could still reach $200,000 under ‘favorable conditions.’ The report states: Our view is that any corrections in 2025 will remain mild, thanks to institutional inflows. Historically, post-halving years have seen the strongest rallies. Minimum price estimates stand at $145,000 by mid-2025, potentially stretching to $200,000 under favourable conditions. Indeed, institutional inflows into Bitcoin through exchange-traded funds (ETFs) have shown a steady upward trajectory, especially after Donald Trump’s win in the November presidential election. A recent analysis revealed that US spot ETFs now hold more BTC than the wallet of Bitcoin’s pseudonymous creator, Satoshi Nakamoto. While the report projects a strong long-term bullish case, it cautions that some price volatility may emerge during Q1 2025. These pullbacks, however, are expected to be mild and short-lived. The report also notes that price corrections following Bitcoin halvings have been shrinking in size with each cycle: In previous cycles, once Bitcoin entered price discovery following a halving, corrections before mean reversion to new ATHs were relatively contained. In the 2017 cycle, the maximum correction was 33.2 percent, while the 2020 cycle saw a slightly smaller correction of 27.1 percent. Strategic Reserve May Extend BTC Gains One unique factor in this Bitcoin cycle is the speculation surrounding the potential establishment of a US strategic Bitcoin reserve. Such a reserve could drive Bitcoin prices into the seven-figure range, according to Blockstream CEO Adam Back. Related Reading: VanEck Gives Official Backing To Donald Trump’s Bitcoin Reserve Strategy Matt Hougan, Chief Investment Officer at asset management firm Bitwise, recently noted that creating a strategic BTC reserve could propel the asset’s price to $500,000. Experts believe that if the US establishes a BTC reserve, other nations are likely to follow suit, creating a domino effect that could lead to a significant price surge. In related news, Japanese Member of Parliament Satoshi Hamada floated the idea of Japan creating its own strategic BTC reserve. At press time, BTC trades at $103,953, down 3.7% in the past 24 hours. Featured image from Unsplash, Chart from TradingView.com
As we approach the end of the year, Bitcoin (BTC) continues flying to new highs, setting bullish expectations for the rest of the cycle. Bitfinex’s latest reports suggest when BTC’s peak could come and how much climbing might be left for the flagship crypto. Related Reading: Bitcoin To Hit $180,000 If These Cycle Top Indicators Are Absent, Says VanEck’s Sigel Bitcoin’s ‘Unique’ Cycle In its latest Alpha Report, Bitfinex highlighted the crypto industry’s big strides in adoption and mainstream recognition this year, which have differentiated this cycle from previous ones. Notably, the launch and increasing institutional demand of Bitcoin and Ethereum spot exchange-traded funds (ETFs) have surpassed expectations and attracted a “new class of investors” to the crypto space. Per the report, this cycle has been “unique” as these new investors brought by ETFs and increasing confidence in the sector sent BTC’s price to a new ATH ahead of the Halving event, historically leading the flagship crypto to a new high after 5-7 months. The industry also saw a growing interest in diversifying national reserves with cryptocurrencies, with several jurisdictions worldwide considering implementing a Strategic Bitcoin Reserve after the flagship crypto’s recent performance. According to Bitfinex analysts, these factors have kept BTC’s corrections smaller than other cycles and will likely continue this trend for the rest of the bull run: In the current bull cycle, which began in mid to late 2023, Bitcoinʼs corrections have been smaller, particularly since the launch of Bitcoin ETFs in early 2024. With institutional and ETF demand providing consistent buying pressure, we expect this trend to continue, keeping future corrections limited and potentially shorter in duration. Moreover, the upcoming crypto-friendly US administration added to the growing bullish sentiment surrounding the industry, leading to the massive post-election rally. As a result, the crypto market has grown 130% year-to-date (YTD) to a market capitalization of $3.69 trillion, increasing nearly 70% this quarter. What’s Next For Bitcoin This Cycle? The report noted Bitcoin’s performance, highlighting its 573% surge from its 2022 low of $15,487. The flagship crypto has also seen an increase of 130% year-to-date (YTD), fueled by this year’s industry achievements. Earlier this month, Bitcoin broke past the $100,000 barrier for the first time, setting a new ATH closer to the $110,000 level on Monday. According to Bitfinex, the cryptocurrency still has several levels to climb in 2025, as historical data indicates that the market is mid-cycle. This data suggests BTC’s price will likely peak around Q3 and Q4 2025, as it tends to do approximately 450 days post-halving. Meanwhile, metrics like Market Value to Realized Value (MVRV), Net Unrealized Profit and Loss (NUPL), and the Bull-Bear market indicator signal that “we remain in the bull phase but far from euphoric peaks.” Bitfinex also explained that the Pi Cycle Top Indicator has historically been effective in timing cycle highs, forecasting the peaks with a three-day window. The previous cycle’s predictions indicate that Bitcoin could peak between mid-2025 and early-2026. Related Reading: PNUT Memecoin Drops 10% Following Peanut’s Owner Legal Warning To Binance If it follows the 2021 cycle pattern, BTC could see its price experience a 40% increase to $339,000 and peak around June or July 2025. Nonetheless, the report notes that the flagship crypto has been on a trend of diminishing returns over the cycles. Based on this, Bitcoin’s price might see a 15% to 20% increase to the $160,000-$200,000 range instead. However, if the cryptocurrency mirrors 2017’s cycle pattern, BTC’s rally could extend until January of 2026, peaking at $229,000 with similar diminishing returns. As of this writing, BTC is trading at $107,729, just 0.3% below its ATH. Featured Image from Unsplash.com, Chart from TradingView.com
Bitfinex analysts believe the increasing Bitcoin institutional adoption will create strong demand-side pressure, making Bitcoin price dips in 2025 short and temporary.
A crypto analyst warns that Bitcoin’s price could face volatility if the highly anticipated United States Bitcoin Strategic Reserve bill gets passed.
Bitcoin’s daily realized profit metric has fallen 76% after the initial hype about $100,000 Bitcoin began to wane off, according to crypto analysts.
As Bitcoin continues to move above the $90,000 mark, Altcoins began to reach new highs. The sector has recently reclaimed a key two-year level that could set the stage for a retest of 2021’s highs. Some analysts consider that Altcoins’ recent performance could kickstart the long-awaited Altseason. Related Reading: How High Can XRP Price Realistically Go After Gensler’s Resignation? Altcoins Market Cap Reclaims 2022 Levels The total crypto market has seen a remarkable performance for the past 21 days, jumping to a market capitalization of $3.36 trillion. This surge, fueled by the US elections on November 5, has led Bitcoin’s price to a 40% increase to its latest all-time high (ATH) of $99,645. Similarly, Altcoins have started to record their best performance in years, with tokens like Cardano (ADA) and XRP (XRP) surpassing the long-awaited $1 mark. Meanwhile, cryptocurrencies like Solana (SOL) and SUI (SUI) hit new ATHs recently, igniting investors’ bullishness for the cycle’s second leg up. The community has also expressed optimism for the ‘King of Altcoins’ recent performance after Ethereum (ETH) recovered the key $3,300 support zone last week. The crypto market’s performance has led the Altcoins’ market capitalization to hit a two-year high and reclaim key levels. Notably, the total cryptocurrency market cap, excluding Bitcoin and Ethereum, surpassed the Q1 2024 high of $788 billion as BTC soared past the $90,000 resistance. The momentum led the Altcoins market cap to break above the $840 billion mark last week, a level not seen since April 2022. Since then, Alts have held above this range despite the market retraces, turning this horizontal level into support. Additionally, it neared May 2021’s high of $984 billion, a crucial resistance level ahead of the Altcoins market cap ATH of $1.13 trillion. Altseason To Start Soon? According to Bitfinex’s Alpha report, this marks Altcoins’ “largest through-to-peak move” since April 2021. The 23.2% increase hints at an increasing investor appetite, leaving behind the previous “start of the bear market” levels. This movement “indicates a rotation of speculative capital and interest from Bitcoin into Altcoins as retail market participation increases,” the Bitfinex analysts explained, which tends to mark “the onset of the final stage of the bull market where altcoins begin to outperform Bitcoin on an aggregate basis.” Crypto analyst MikyBull pointed out that Alts dominance “just climbed above the trend ribbon” on Tuesday. The analyst’s chart, which excludes the top 10 cryptocurrencies by market cap, displayed Altcoin’s dominance at 10.37%, breaking above the multi-month downtrend line. Per the post, this has indicated before that “Alts are about to outperform in the next coming weeks.” Similarly, he highlighted a breakout from a multi-year cup and handle pattern in the Altcoins’ chart. To him, the Alts have started running after breaking out from the pattern’s neckline, and investors will see the “full potential of the Altseason” from December to March 2025. Related Reading: Polygon: Analyst Sets ‘Wild’ Price Target Amid POL’s 38.2% Weekly Surge Meanwhile, Bitfinex forecasted that “lower timeframe upside seems to be limited for altcoins” due to its resistance at May 2021 levels. Nonetheless, the report noted that breaking above the $984 billion resistance would signal a continuation of altcoins ascend. Ultimately, Bitfinex’s analysts consider that a larger Bitcoin correction could have a “magnified” effect on altcoins, and they expect, “at minimum, a period of ranging after a week full of consistently high liquidation numbers for both longs as well as shorts for altcoins.” Featured Image from Unsplash.com, Chart from TradingView.com
Heather “Razzlekhan” Morgan, who helped launder the proceeds of the 2016 Bitfinex hack led by husband Ilya “Dutch” Lichtenstein, has been sentenced to 18 months in prison in the incident that drained almost 120,000 bitcoin from the exchange.
Ilya Lichtenstein, who pleaded guilty to his role in the 2016 Bitcoin hack of the cryptocurrency exchange Bitfinex, has been sentenced to five years in prison, as announced by the US Department of Justice (DOJ) on Thursday. Lichtenstein was sentenced for his involvement in the money laundering conspiracy for stealing approximately 120,000 Bitcoin from the […]
For her role in the theft and laundering of around 120,000 bitcoin, Razzlekhan will receive her sentence on Nov. 18.
US authorities arrested Ilya Lichtenstein and his wife, Heather Morgan, in 2022 for laundering Bitcoin connected to the Bitfinex exchange.
Bitcoin (BTC) has performed remarkably over the past week, surging 30% since the November 5 US election. The flagship crypto surpassed its March all-time high (ATH), recording a new high nearly every day for the last seven days. Bitfinex analysts noted that the market remains “relatively stable” despite increased speculative activity. Related Reading: Bitcoin Closing In On $80,000 For Record-Breaking Run After Trump Win Bitcoin ‘Fair Value’ Priced In At Higher Levels Following Donald Trump’s victory last Tuesday, the crypto market has seen a massive rally, surging to a market capitalization of $3.05 trillion. Bitcoin has led the post-election bullish run with a 30% price increase, nearing the $90,000 mark earlier today. According to Bitfinex Alpha report, the rally “highlights the positive reaction to the election outcome, with investors positioning themselves for potential economic stimulus and regulatory shifts.” During the March highs, BTC’s realized profit volume reached its peak of $3.1 billion. Since then, realized profit volumes have gradually decreased, “reaching an equilibrium.” As the report noted, there’s been a reset in supply and demand forces, which indicates, alongside the recent price surge, that “the market is now pricing in a higher ‘fair value’ for Bitcoin.” At the same time, the cryptocurrency continues its price discovery. Moreover, profit-taking above $70,000 has been significantly smaller than the past instances when Bitcoin traded above this range, despite a structural increase in profit-taking. Bitfinex analysts consider this to signal the “entry of a new wave of demand into the market,” backed up by Spot Bitcoin exchange-traded funds (ETFs) buying post-elections. Additionally, it suggests that fresh investor interest “could drive further upward momentum in the near term.” BTC Enters ‘A New Phase’ The report highlighted record-breaking BTC ETFs’ inflows, around $2.28 billion in three days. This performance represented a significant increase from the pre-election de-risking, which saw the crypto-based investment products record their second-largest single-day outflows. According to CoinShares data, Bitcoin ETFs closed the US election week with $1.8 billion in inflows and started this week with $1.1 billion in positive net flow. This performance displays a resurgence in demand for the flagship crypto as the market adjusts to BTC’s new price levels. Bitfinex analysts explained that from March to August, there was significant supply and insufficient sustained buying pressure to absorb it. The recent demand surge suggests a notable shift as buying interest is “absorbing selling pressure at all-time highs and stabilizing market dynamics: Now we appear to be entering into a new phase where the volume of profit-taking when BTC hits an all-time high is notably lower, given the amount of fresh demand entering the market post-election. This demand is helping to absorb the minor selling pressure still present, suggesting a healthier market environment and potential for further upward movement. Related Reading: Solana (SOL) Records 3-Year High As Price Hits $220, Is $260 Next? Meanwhile, Open Interest (OI) in Bitcoin futures and perpetual contracts reached ATH, hitting $45.43 billion. The report explains that this signals an increase in speculative activity but details that the market remains “relatively stable” since OI and BTC prices “are in equilibrium at elevated levels.” Ultimately, Bitfinex anticipates some consolidation soon, with a potential pullback to $77,000. A correction toward this level would close BTC’s CME gap and strengthen Bitcoin’s position to climb even higher levels. As of this writing, Bitcoin is trading at $86,225, a 5% increase in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
The US Department of Justice (DOJ) has launched a website to collect information from individuals affected by the 2016 Bitfinex hack, according to a Nov. 7 statement. The DOJ announced it was inviting statements from those impacted by the hack, including affected Bitfinex account holders. This initiative aims to gather details on how the hack […]
The post US DOJ seeking statements about Bitfinex hack despite lack of formal victims appeared first on CryptoSlate.
Despite macroeconomic headwinds, Bitcoin (BTC) looks primed to create a new all-time high (ATH), charged by positive Q4 2024 seasonality. Bitcoin New ATH On The Horizon? On October 28, BTC surged past $71,000, sparking optimism for a new ATH above the $73,737 peak recorded in March this year. Although BTC has crossed the $70,000 threshold […]