Bitfinex Slams Insolvency Allegations, Reveals Part of Bitcoin, Ether, and EOS Holdings

Cryptocurrency exchange Bitfinex addressed allegations and controversies propagated against its platform in recent times via a detailed Medium post on Oct. 7, 2018.Bitfinex Fights Allegations.

Bitfinex notes some of the naysayers predict the fall of the cryptocurrency market as a whole.

Some of those parties have "Screamed" for the insolvency crypto-bourse, which Bitfinex calls out as the naysayers having no adequate knowledge, little understanding of the concept, and how insolvencies take place.

The exchange provided the wallet addresses of its Bitcoin, Ether, and EOS holdings to prove its finances and address any future rumors that may arise if the allegations continue.

Bitfinex strongly claimed they are "Not insolvent," and pointed out the flurry of Medium articles propelling such claims will "Not change this."

Bitfinex pointed out their operating costs are a minimum, and a small team runs their business.

Addressing recent claims that the platform did not honor fiat and cryptocurrency withdrawals, Bitfinex maintained that verified users continue to "Freely withdraw" euros, pounds, yen, and dollars.

Bitfinex is now banking with HSBC through a private account of Global Trading Solutions.

Lastly, Bitfinex pointed all connections to Puerto Rico-based Noble Bank, and the latter's lack of liquidity had no impact on the former's business, operations, survivability, and solvency.

The statement comes after rumors circulated last week about Tether holdings stuck in Noble, of which Bitfinex is a large holder, leading naysayers to speculate the exchange was in jeopardy if it's chief custodian were to close someday soon.