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The difference between mtGox and this is that bitfinex is seemingly infinitely solvent. Some estimates are like 20-30 million revenue per day. Its the top runni
by conanbatt 9y ago
The difference between mtGox and this is that bitfinex is seemingly infinitely solvent. Some estimates are like 20-30 million revenue per day. Its the top running exchange. I doubt they would expose themselves to a bankrupcy event having such a cash cow.
I believe they did market manipulation, and that they are committing fraud with tether, but I'm not convinced tether is not solvent.
- AJ007 9y agoWhat if they covered up other breaches?
- Sangermaine 9y ago>Its the top running exchange. So was mtGox.
- conanbatt 9y agomtGOX was insolvent because they lost all their assets, thats not the case for bitfinex as far as we know. That is independent from tether itself, it can happen to all exchanges.
- Sangermaine 9y ago>as far as we know Yes, precisely the sort of information an audit would reveal. Curious, then, that despite their repeated pledges for robust auditing they first declared they'd engaged a firm to do those audits that didn't actually do audits, then terminated their relationship with the second, legitimate auditor.
- conanbatt 9y agoAn audit of tether would not show you if bitfinex is solvent or not. Even if tether as a project is a total failure, bitfinex could pay at length for its shortcomings. Plus, they made most of the money on the play itself.
- bby 9y agoWho is to say there isn't wash trading going on and that their volumes are fake? Wash trading by insiders who don't pay fees.