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Tag: Bitfinex

  • Bitcoin Whales Hit The Sell Button — $135K Price Target Now Trending

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    According to TradingView data, big holders on Bitfinex have been trimming long positions after a late-December peak of 73,000 BTC. The move follows a broader drop in whale holdings of roughly 220,000 BTC during 2025, a change that has analysts and traders parsing what comes next.

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    Price action has been steady. Bitcoin has been moving inside a tight range around $88,000 to $92,000 while the market seeks direction.

    Whale Moves And Historical Patterns

    Based on reports, some traders see this as a classic unwind pattern that precedes price gains. In early 2025, a similar fall in long positions coincided with Bitcoin slipping under $74k then staging a sharp rebound.

    That past recovery climbed to about $112k in 43 days after positions were flushed. MartyParty, a commentator on X, pointed to that episode when noting Bitfinex whales were “aggressively closing $BTC longs,” a behavior that has in the past been followed by big swings.

    Market Breadth And Investor Mix

    Reports have disclosed that on-chain tracker CryptoQuant finds overall whale holdings fell by over 200,000 BTC across the year, while smaller investors have increased exposure. This shift is being read by some as a sign that ownership is broadening.

    If more participants hold coins, price moves can be supported by a wider base of buyers. That does not guarantee higher prices, but it does change the way risk spreads through the market.

    BTCUSD now trading at $90,619. Chart: TradingView

    Price Range And Resistance Levels

    Traders are watching a near-term ceiling around $94,000 that has capped several rallies. Bitcoin currently sits near $91.5k. A sustained break above that $94,000 level with volume would be a stronger confirmation for bulls. On the flip side, a failure to move higher could see the range widen to the downside, especially if funding costs rise or if liquidations pick up.

    Fractal Targets And Caution

    Some analysts are using past patterns to project targets. Based on reports, one scenario maps a repeat of the spring-and-rally sequence, aiming at $135k or more if history repeats closely enough.

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    That view depends on similar market conditions lining up, which is not certain. Whales are not a single, unified actor; different groups can close positions for different reasons, and some trades are used as hedges rather than bets on price direction.

    Volume, funding rates, and net positioning on major derivatives platforms will matter. A clean breakout above $94,000 with rising spot demand would support the bullish case.

    Conversely, rising selling pressure at that level could keep Bitcoin confined to the $88,000–$92,000 band until a new catalyst appears. The current action looks like a setup in progress — one that could lead to sharp moves once traders decide on direction.

    Featured image from Unsplash, chart from TradingView

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    Christian Encila

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  • Bitfinex hacker Ilya Lichtenstein credits Trump for early release from prison | TechCrunch

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    Ilya Lichtenstein, who pled guilty to money laundering charges tied to his role in the massive hack of crypto exchange Bitfinex, has apparently been released early from prison.

    In a Thursday evening post on X, Lichtenstein said he was out early “thanks to President Trump’s First Step Act” (a prison reform bill passed during Trump’s first term).

    “I remain committed to making a positive impact in cybersecurity as soon as I can,” Lichtenstein said. “To the supporters, thank you for everything. To the haters, I look forward to proving you wrong.”

    The Department of Justice arrested Lichtenstein and his wife Heather Morgan in 2022 and seized $3.6 billion worth of bitcoins that had been stolen from Bitfinex. The couple became infamous after their arrest and were featured in a Netflix documentary called “Biggest Heist Ever.”

    Lichtenstein eventually admitted to his role in the hack and was sentenced to five years in prison.

    It’s not clear whether the Trump administration played a direct role in the release. An administration official told CNBC that Lichtenstein “has served significant time on his sentence and is currently on home confinement consistent with statute and Bureau of Prisons policies.”

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    Anthony Ha

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  • Tether Partners KraneShares and Bitfinex Securities to Advance Tokenized Securities

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    The arrangement between the trio will help validate tokenized product structures and advance real-world asset integration in blockchains.

    The stablecoin issuing giant Tether has announced a partnership with two entities to foster the advancement of the tokenized securities sector. The firm’s asset tokenization division, Hadron by Tether, will spearhead the collaboration. The companies involved include the tokenized securities platform Bitfinex Securities and the asset manager KraneShares.

    According to a press release sent to CryptoPotato, the alliance between the trio will merge the regulatory foundation, infrastructure, and market expertise required to tokenize assets on-chain. The goal is to accelerate the development and adoption of tokenized securities by connecting traditional financial products with blockchain networks.

    Tether Partners Bitfinex Securities and KraneShares

    Among the services offered by Bitfinex Securities, the platform’s secondary trading liquidity capability is vital to the partnership. The service is licensed under El Salvador’s National Commission of Digital Assets (CNAD).

    KraneShares, which manages the world’s largest China-focused investment fund, will bring its exchange-traded fund (ETF) expertise to the table. Notably, the asset manager will also contribute its global distribution channels, helping the partnership expand its reach across multiple markets.

    As for Hadron by Tether, the platform will serve as the technological backbone for the partnership. The division will provide a conducive environment for secure and scalable tokenized asset markets. This strategic arrangement between the trio will help validate tokenized product structures, analyze institutional demand, and facilitate the integration of real-world assets in blockchains.

    Jesse Knutson, Head of Operations at Bitfinex Securities, said:

    Credible secondary markets are essential to realizing the full potential of tokenized assets. When investors can trade confidently and regulators have clarity, new classes of capital become accessible. This collaboration with KraneShares reflects an exciting direction of travel, whereby institutional capital is increasingly migrating to tokenised assets as it recognizes the value of efficiency, scalability, and innovation.

    Fostering The Adoption of Tokenized Securities

    With institutional interest in real-world asset tokenization rising at a rapid pace, this development places the three companies at an advantage. Market experts have predicted that the global tokenized securities sector will grow from $30 billion in 2025 to roughly $10 trillion by 2030.

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    As the market grows, the collaboration between Hadron by Tether, KraneShares, and Bitfinex Securities will create a foundation for product innovation, cross-border investor access, and operational efficiency. This will be built on El Salvador’s digital asset regulatory framework.

    This collaboration reflects Tether and Bitfinex Securities’ commitment to supporting the evolution of capital markets. Working with KraneShares enables us to connect traditional investment products with next-generation financial infrastructure,” said Paolo Ardoino, Tether CEO and Bitfinex Securities CTO.

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    Mandy Williams

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  • Bitfinex CTO confirms no data breach, cites fake allegations

    Bitfinex CTO confirms no data breach, cites fake allegations

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    Bitfinex Chief Technology Officer Paolo Ardoino has confirmed that recent data breach allegations involving the cryptocurrency exchange were unfounded.

    Ardoino, addressing the rumors, stated unequivocally that Bitfinex’s user database remains secure following a thorough internal review over the weekend.

    The allegations surfaced last Saturday when Alice of Shinoji Research posted that Bitfinex had suffered a significant data breach. The post, later deleted, was based on assertions from a hacking group, FSociety, which claimed responsibility for the supposed breach on April 26. The tweet suggested that about 2.5 Terabytes of data and personal details of 400,000 users had been compromised.

    Ardoino’s review of Bitfinex’s systems revealed no evidence of a breach. The CTO explained that the data in question was not extracted from Bitfinex’s servers but was instead compiled from previous unrelated breaches. The compilation was misrepresented as a breach of Bitfinex, leveraging recycled credentials to create a false alarm.

    Alice of Shinoji Research has since retracted the initial claim, clarifying the misunderstanding in a follow-up statement. She indicated that the information was erroneously presented as a new incident while it involved old data from various breaches collected by another group known as Flocker. The misrepresentation was intended to simulate a ransom demand, exploiting the fears of a major breach.

    Ardoino believes this incident stresses the risks of reusing passwords across multiple platforms, a common practice that can lead to security vulnerabilities. He took the opportunity to urge users to employ unique passwords for different services to enhance security, especially on platforms handling sensitive financial information.

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    Bralon Hill

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  • Bitcoin Market Dynamics Still Positive Post-Halving – Bitfinex Analysis

    Bitcoin Market Dynamics Still Positive Post-Halving – Bitfinex Analysis

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    In the midst of the dramatic changes that have occurred in the cryptocurrency space after the Bitcoin halving event, Bitfinex provides a perceptive analysis that reassures investors that the market dynamics of BTC have remained positive in the post-halving period. Bitfinex examines the on-chain data and finds encouraging signs for Bitcoin in spite of the United States economy’s current state of uncertainty in its most recent Alpha report, which was released on April 22.

    Bitcoin Market Dynamics Remains Bullish

    According to the Hong Kong-based crypto platform, exchange withdrawals of Bitcoin are currently at levels not seen since January 2023. This simply indicates that a lot of investors are putting their assets in cold storage in expectation of price rises.

    Also, the exchange noted that long-term investors’ aggressive selling has not yet caused the usual pre-halving price decline, which suggests that new market participants are absorbing the selling pressure quite well, highlighting the tenacity of the present market structure of Bitcoin.

    The Bitfinex Alpha report revealed that the average daily net inflow from spot Bitcoin Exchange-Traded Funds (ETFs) is $150 million. Given the ETFs’ inflows far exceeding the $30 and $40 million daily issuance rate of BTC following the halving, this significant supply and demand imbalance could encourage further price appreciation.

    Bitfinex further claims the massive purchases of spot Bitcoin ETFs, which have dominated the entire year’s market narrative, may decline. However, recent ETF outflows have shown that ETF demand may be starting to stabilize.

    It is important to note that the recently concluded Halving cut down miners’ reward from 6.25 BTC to 3.125 BTC. As a result, miners are now modifying their operating tactics in order to sustain their activities against the decline in reward following the Halving.

    Thus, the amount of Bitcoin that miners are sending to exchanges has significantly decreased, which may indicate that they are selling ahead of time or collateralizing their holdings to upgrade infrastructure. Consequently, this could possibly lead to a gradual increase in selling pressure rather than a sudden drop in value at the Halving.

    New BTC Whales Surpassed Old Whales

    Since the conclusion of the fourth Halving, on-chain data shows a significant rise in new Bitcoin whales. CryptoQuant Chief Executive Officer (CEO) Ki Young Ju, reported the development, noting that the initial investment made by the new whales in Bitcoin is nearly twice that of the old whales combined.

    According to the data, the total holding by these new whales, which are short-term holders, is valued at $110.6 billion. Meanwhile, the old whales, which are long-term holders, own a whopping $67 billion worth of BTC. This change in whale demographics may impact Bitcoin’s future course and the dynamics of the cryptocurrency landscape as a whole.

    BTC trading at $66,002 on the 1D chart | Source: BTCUSDT on Tradingview.com

    Featured image from iStock, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Godspower Owie

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  • Bitfinex Hacker Turns State’s Witness in Bitcoin Fog Mixer Trial: Report

    Bitfinex Hacker Turns State’s Witness in Bitcoin Fog Mixer Trial: Report

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    Ilya Lichtenstein, the man behind the looting of billions of dollars from Bitfinex,  is now helping federal prosecutors build a case against Bitcoin Fog, a crypto mixing service.

    Lichtenstein pleaded guilty to money laundering charges last year after hacking Bitfinex and getting away with Bitcoin worth $3.6 million.

    Lichtenstein Testifies in Washington Trial

    According to Bloomberg, Lichtenstein appeared in a Washington, D.C., trial this week where Roman Sterlingov was accused of operating a mixing service utilized by dark-web criminals. The Bitfinex hacker was named a cooperating U.S. government witness to charges relating to money laundering associated with the platform.

    Lichtenstein told the jury that he used different mixers, including Bitcoin Fog, to obscure the stolen funds from the Bitfinex hack. He testified that he used the service about ten times to launder funds. However, he mentioned that the platform was not his main money laundering method since he later moved on to other services better suited for his purpose, such as Helix.

    U.S. authorities charged Sterlingov, a dual Russian-Swedish citizen, with operating the money-mixing service. They accuse Sterlingov of receiving millions of dollars from darknet markets associated with trafficking illegal drugs.

    Tor Ekeland, Sterlingov’s attorney, argues that no evidence exists, such as server logs and eyewitness accounts that link Lichtenstein to the platform. Ekeland further pressed Lichtenstein during the trial on whether he knew or communicated with the accused, which he denied.

    The attorney then inquired about Lichtenstein’s drug use, referencing earlier testimony where Lichtenstein admitted to purchasing mushrooms and LSD on darknet markets. However, he clarified that he was sober during the hacks.

    Sterlingov is facing multiple charges, which include money laundering, operating an unlicensed money-transmitting business, and engaging in money transmission without the requisite license in the District of Columbia.

    Bitfinex Hacker Reveals Motive

    During his testimony, Lichtenstein highlighted the reason for the Bitfinex hack in 2016, saying he faced issues with his tech startup in San Francisco. He further explained that during the time, he was burnt out from the struggling business. Later, he recruited his wife, Heather Morgan, to aid in concealing the origin of the funds. Morgan, who called herself the “Crocodile of Wall Street,” sought social media recognition by rapping about investment strategies.

    The government alleges that the pair utilized counterfeit identities to establish online accounts, masking the transaction trail by depositing and withdrawing funds through cryptocurrency exchanges and darknet markets. According to government assertions, some embezzled funds were allocated to purchase nonfungible tokens (NFTs), gold, and Walmart gift cards.

    In August 2023, Lichtenstein and his wife formally pleaded guilty to money laundering charges and conspiracy to commit fraud, ending a mystery that spanned seven years.

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    Wayne Jones

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  • Bitfinex Securities launches El Salvador’s first licensed digital asset service provider

    Bitfinex Securities launches El Salvador’s first licensed digital asset service provider

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    Bitfinex Securities debuts as El Salvador’s first licensed digital asset service provider, aligning with the country’s pioneering Bitcoin-focused financial initiatives.

    The securities token platform, gearing up for a dynamic phase, is now open to customer applications. This development is accompanied by the anticipation of numerous tokenized financial asset issuances, expected to hit the market in the first half of this year.

    Bitfinex Securities CTO Paolo Ardoino expressed enthusiasm about the launch in El Salvador, highlighting the country’s unique position due to its adoption of Bitcoin as legal tender and efforts to nurture a Bitcoin-centric economy.

    Ardoino believes the move will benefit Bitfinex and enable El Salvador to attract global investment through competitively priced securities offerings.

    The company’s optimism is partly fueled by the success of U.S. spot Bitcoin ETF, with Bitfinex anticipating strong demand for similar regulated digital asset investment vehicles. Jesse Knutson, Head of Operations at Bitfinex Securities, pointed out the recent surge of institutional investor interest in Bitcoin-focused financial products as a positive sign for their venture.

    El Salvador has been in the cryptocurrency spotlight since 2021, following its decision to grant Bitcoin legal tender status. The country also introduced the “Adopting El Salvador Freedom Visa” program in December with collaboration from stablecoin issuer Tether.

    The program allows investors to apply for the Freedom Visa by investing $1 million in Bitcoin or USDT. El Salvador recently established a digital asset regulatory framework, laying the groundwork for fully operational Bitcoin-based financial markets, further solidifying its position in the digital currency landscape.


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    Bralon Hill

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  • Bitfinex Unveils Securities Platform in El Salvador

    Bitfinex Unveils Securities Platform in El Salvador

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    Bitfinex, one of the oldest cryptocurrency exchanges, has announced the launch of a securities trading platform in El Salvador, the first country to recognize bitcoin (BTC) as legal tender.

    According to a press release seen by CryptoPotato, Bitfinex Securities El Salvador will be the Central American country’s first registered and licensed digital assets service provider.

    Bitfinex Securities Platform Launches in El Salvador

    Bitfinex Securities El Salvador is currently accepting customer applications and has a pipeline of issuances awaiting launch.

    The new platform launch follows the greenlighting of several Bitcoin exchange-traded funds (ETFs) by the United States Securities and Exchange Commission (SEC) two weeks ago. The move rides on the expectation that there will be substantial demand for similar financial instruments that give investors exposure to digital assets.

    Around this time last year, El Salvador approved a digital asset regulatory framework, paving the way for fully operational and regulated Bitcoin markets. Bitfinex believes developing a tokenized securities industry in the country represents a leap for financial innovation in Latin America.

    Expressing excitement for the latest feat, Paolo Ardoino, Chief Technology Officer of Bitfinex, said: “We are delighted to be able to announce the launch of Bitfinex Securities in El Salvador. This is not only an important market for Bitfinex given its adoption of Bitcoin as legal tender and the fostering of a Bitcoin -based economy, but it also gives El Salvador the opportunity to attract global investment flows, as issuers put out competitively priced securities offerings.”

    First Set of Products to Go Live in H1

    Bitfinex further classified El Salvador’s historic adoption of BTC as legal tender in 2021 as a visionary step towards a Bitcoin-centric economy. The decision would ease the launch of tokenized assets set to come into the market in the first half of the year.

    “The new Digital Assets Securities Law, passed last year, carved out digital assets regulation from the traditional financial regulator and created the national commission of digital assets, that oversees the supervision and regulation of the ecosystem,” stated Juan Carlos Reyes, President of the National Commission of Digital Assets in El Salvador.

    Meanwhile, users who seek access to all Bitfinex Securities issuances must be verified with the platform’s Kazakhstan arm and the new firm in El Salvador.

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    Mandy Williams

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  • US Judge Dismisses Class Action Lawsuit Against Tether and Bitfinex

    US Judge Dismisses Class Action Lawsuit Against Tether and Bitfinex

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    A United States judge has concluded the dismissal of a class action lawsuit against stablecoin issuer Tether and its affiliate crypto exchange Bitfinex, two years after the plaintiff made a move against the firms.

    According to a blog post, Chief Judge Laura Taylor Swain of the U.S. District Court for the Southern District of New York denied Shawn Dolifka’s motion for leave to amend the class suit. Dolifka has now chosen not to appeal the judge’s decision.

    The Class Suit

    Dolifka filed a class suit against Tether in October 2021, accusing the company of misleading customers regarding the attributes of its stablecoin, USDT, and creating a scheme to induce users to purchase the crypto asset.

    With Matthew Anderson, Dolifka accused Tether of falsely representing USDT reserves, arguing that the company maintained cash reserves that were less than 4% of the tokens in circulation.

    The duo insisted that the reserves did not contain U.S. dollars and were mostly made up of assets like overcollateralized loans and other undisclosed commercial paper, and worse still, the firm had not undergone any professional audits despite promising transparency to its customers.

    In addition, the lawsuit alleged that USDT was not a stablecoin, as it was not backed 1:1 with the U.S. dollar, as Tether had claimed. The plaintiffs claimed Tether’s alleged misconduct qualified them to receive compensatory and statutory damages, prejudgment and post-judgment interest, and attorneys’ fees.

    “Meritless Claims”

    Tether called the lawsuit nonsense and copycat in response, stating that the plaintiffs and law firm were looking for a payout based on “meritless claims.” The company’s CEO, Paulo Ardoino, said the class suit would bite the dust like others.

    With Judge Taylor finalizing the dismissal of the lawsuit, Tether has reiterated its stance to never fall prey to “shameless litigation money grabs.”

    “Quite unlike Dolifka’s ill-advised decision to file the action in the first place, his decision to forego his appeal rights was the correct decision. His claims were entirely meritless, and no amount of further litigation would have resulted in Dolifka or his attorneys realizing anything monetarily or otherwise,” Tether added.

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    Mandy Williams

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