Bitfinex Denies Claims Of Insolvency

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Bitfinex Denies Claims Of Insolvency

Posted on October 8th, 2018 in Blockchain News by Ryan Warner

Bitfinex has denied speculation that the exchange is insolvent following allegations of the exchange having withdrawal issues and a recent Medium article by Twitter crypto-personality CryptoMedicationIn addition to this, there have been rumors of users being unable to access the exchange platform. Support staff at Bitfinex have also failed to answer questions from customers - though lack of support is not uncommon on cryptoexchanges.

Bitfinex, in an official statement, said that fiat and cryptocurrency withdrawals are functioning normally.

“These parties are quick in screaming insolvency, seemingly with a little understanding of what this concept means and what they are generally talking about”

Bitfinex also stated that the accusations of insolvency are inappropriate and gave no logical explanation for the claims.

“How any rational party can claim insolvency when the opposite is there for all to see is interesting and, once again, perhaps indicative of a targeted campaign based on nothing but fiction.”

Bitfinex said that they had been witnessing complications in the domain of fiat currency transactions which were common in "cryptocurrency-related organizations." However, fiat and cryptocurrency withdrawals were functioning normally on the platform. Bitfinex added users could withdraw in Euros, U.S. Dollars, Japanese Yen, and Pounds Sterling.

Anonymous sources have claimed that Noble Bank has been searching for buyers since Bitfinex and Tether stopped using their services. This announcement was followed by reports that Noble Bank has recently become financially unstable and is seeking new investors. Bitfinex has reported that all rumors regarding Noble Bank did not affect their solvency, operations, or survivability.