Bitcoin takes another hit

26.04.2019 / 01:25

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According to The Wall Street Journal, iFinex (the Bitfinex operators holding Tether) are charged with missing funds on a number of corporate and retail accounts.

iFinex has mixed the corporate and client tools that happened in the middle of 2018 and was not publicly disclosed. With a subpoena received in New York, they are banned from transferring cash from Tether's reserves to Bitfinex bank accounts, deterring all dividends and passing on any documentation and information. Covering the case led to a drain of $ 700 million from Tether Reserves.

Bitcoin collapsed from $ 5452 to $ 5105 within minutes of the news, apparently a sharp outflow of Bitcoin and Tether funds has occurred because the price of the TrueUSD Token (which is considered a stablecoin and is 1: 1 against the dollar) against Tether has risen significantly.

Here you can read the full text of the court confirmation.

Trader Martin Nikolov

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Bitcoin takes another hit

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