Bitfinex Suspends All Fiat Deposits Amid Rumors Of Financial Instability

  • Bitfinex has suspended EUR, USD, JPY, GBP wire deposits, although screenshots taken on the crypto exchange suggest that the situation is expected to "normalize"

Cover image via U.Today

Bitfinex has suspended EUR, USD, JPY, GBP wire deposits, although screenshots taken on the cryptocurrency exchange suggest that the situation is expected to “normalize within a week.”

On Oct. 7, in response to the rumors of insolvency and financial instability, the exchange released a blog post stating “Bitfinex is not insolvent” with the links to its public wallet addresses.

Last week reports emerged stating that Bitfinex started banking with HSBC through a private account of Global Trading Solution. However, the account is no longer functional.

About the author

Paul Hackley is a journalist and essayist, focusing on blockchain and cryptocurrencies, with a strong interest in the future of the technology.

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