Bitfinex has today announced “distributed banking” to presumably try and hide bank details from the public after they’ve seen a number of bank account closures following a banking blockade last year. They say:
“A user wishing to initiate a fiat deposit on Bitfinex will create a deposit request to signal interest in completing a deposit. Through this deposit request, a user will be able to specify the exact amount and currency which they wish to deposit.
Following an account review (which may take up to 48 hours), the user will receive a deposit notification which will include, among other things, bank details specific to the individual’s transaction.
The user will be able to initiate the deposit based on the information received through the deposit notification. The deposit will subsequently be processed within 6-10 business days from Bitfinex.”
The above is shown when one visits Bitfinex’s depositing page. It appears Larry Cermak, who has been closely following the recent bank troubles of Bitfinex, was able to go through the process.
Apparently they’re now banking with the Bahamas-based Deltec Bank. It looks like there’s two of them, one fake and one real.
A long-time critic of Bitfinex – who feels he/she was cheated from a bounty after claiming to reveal who the Bitfinex hacker was last year – thinks it’s the fake one. We currently have no reason to believe so.
Tether’s peg, however, is still way out of line, currently at below $0.96. Something that was very rare prior to this Monday’s very eventful tether unraveling.
It looks like Bitfinex will now no longer publicly reveal their bank account, so going through a laborious process to presumably avoid detection, and thus bank account closure.
They say the bank account information provided to depositing customers is commercially sensitive and confidential, with the troubled exchange implicitly threatening potential lawsuits if the details are revealed, as well as pleading to greed by insinuating crypto prices would be affected.
Yet they’re now probably on so many radars, making any sense of any of this would probably be for book authors rather than these pages.