Bitfinex Challenges Insolvency Rumors, Provides Proof of Wallet Reserves

Bitfinex Challenges Insolvency Rumors, Provides Proof of Wallet Reserves
Top-three cryptocurrency exchange Bitfinex is pushing back against claims that call its solvency into question.The Hong Kong-based company released a blog post on October 7, 2017, that states, contrary to recent rumors, it is not insolvent. In its defense, the company provides links to its public wallet addresses, stating that hearsay in spite of these publicly verifiable records is “perhaps indicative of a targeted campaign based on nothing but fiction.”“Bitfinex is not insolvent, and a constant stream of Medium articles claiming otherwise is not going to change this. As one of only a very few exchanges operating since 2013, with a small team and low operating costs, we do not entirely understand the arguments that purport to show us to be insolvent without providing any explanation about why.”Over the weekend, a since-removed Medium post by user ProofofResearch warns readers to exit Bitfinex, alleging that complaints of restricted and frozen withdrawals expose its insolvency. The post goes on to air grievances shared on Reddit regarding these withdrawal issues, and the author accuses r/bitfinex moderators of censoring such posts.“Both fiat and cryptocurrency withdrawals are functioning as normal. Verified Bitfinex users can freely withdraw Euros, Japanese Yen, Pounds Sterling and U.S. Dollars. Complications continue to exist for us in the domain of fiat transactions, as they do for most cryptocurrency... For Further Information Click on Below Button
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