Bitfinex Stops Accepting Fiat Deposits as More Banks Cut Ties

[kreslik.news]

Bitcoin’s biggest exchange, Bitfinex, has suspended all fiat deposits and stopped accepting bank transfers, just days after the exchange denied rumors that its operations are on the brink of insolvency.

The latest suspension, however, raises fundamental questions regarding the exchange’s ability to continue operating as it once again fully cut off from the monetary system in significant reminiscence of a situation that led similar venues to bankruptcy.

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The crypto industry outlet ‘The Block,’ which first broke the news, said Bitfinex was banking with HSBC through a private account of Global Trading Solutions. However, ... (read more)