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Bitfinex has suspended fiat deposits

Bitfinex cryptocurrency exchange has suspended all fiat deposits in USD, JPY and GBP.

According to yesterday’s announcement by the world’s fourth largest cryptocurrency exchange Bitfinex, it has temporarily suspended all fiat wire deposits. Bitfinex team has not yet specified the reasons for such suspension. Deposits are “expected to resume within a week”.

On October 8, the exchange denied allegations of insolvency, while adding that “complications continue to exist” for Bitfinex “in the domain of fiat transactions,” but calling them something prevalent among “most” crypto-related organizations.

Commenting on the situation with Noble Bank, which has reportedly went bankrupt last week, Bitfinex noted that these allegations “have no impact on Bitfinex’s operations, survivability, or solvency”. Soon after this information has popped up in the media, some in the crypto space stared suggesting that Bitfinex will now shift to banking with HSBC via a private account registered under the name “Global Trading Solutions”. There is still no official confirmation of these rumors, however.

Back in April, U.S. Wells Fargo & Co. refused to continue operating Bitfinex’s accounts.