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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. You might also like: Coinbase challenges SEC’s rejection of digital asset rulemaking petition The company’s optimism is partly fueled by the succ...

Tether and Bitfinex say the decision not to appeal the Freedom of Information Law request by several media outlets was made in the interests of transparency. Tether and Bitfinex have jointly agreed to drop initial opposition to a Freedom of Information Law (FOIL) request lodged in New York by a number of high-profile news publications. A statement from the USDT stablecoin issuer and cryptocurrency exchange shared with Cointelegraph notes that it is committed to transparently sharing information following a FOIL request from CoinDesk earlier this year. The companies also indicated that they would not be openly releasing documentation, claiming that the approach is not in line with its business practices: “It’s essential to clarify that transparency does not mean a wholesale release of all our documents.” Tether and Bitfinex will not appeal against the FOIL request put forward by journalists, including Zeke Faux, Shane Shifflett and Ada Hui, whom they accuse of exhibiting “certain beh...

Cryptocurrency stablecoin company Tether shared on X that the plaintiff had ended the appeal in the multi-year courtroom battle. Tether initially denied allegations of misconduct via a written statement one day before the lawsuit was filed in 2019. A conclusion of legal proceedings In a blog post on the Tether website, the stablecoin issuer shares that Chief Judge Laura Taylor Swain of the U.S. District Court for the Southern District of New York has finalized the dismissal of Shawn Dolifka’s class action complaint against Tether and Bitfinex after denying his motion to amend.  You might also like: Tether to become a Bitcoin miner with a $500m investment in 2024 In light of this, Dolifka has chosen not to pursue an appeal. The court’s judgment now stands in favor of Tether and Bitfinex, concluding the legal proceedings. Judge Finalizes Dismissal of Meritless Lawsuit Against Tether and Bitfinex, Plaintiff Drops Appeal Read more ️https://t.co/fxObcUrp3Q ...

The U.S. government is one of the world’s largest holders of Bitcoin (BTC), storing about 200,000 BTC in hardware wallets. The Wall Street Journal (WSJ) reported that the U.S. Department of Justice, the Internal Revenue Service and other departments control a number of encrypted hardware wallets. Most of the assets held in government accounts have been confiscated from cybercriminals. According to public records provided by research firm 21.co, the last three seizures brought approximately 215,000 BTC into the U.S. government treasury. Source: Dune In 2020, the Department of Justice confiscated approximately 69,000 BTC that once belonged to the founder of the Silk Road darknet marketplace, Ross Ulbricht. On Oct. 2, 2023, he published a post on the 10th anniversary of his prison sentence. You might also like: 10,000 BTC tied to Silk Road on the move In January 2022, after the arrest of Ilya Lichtenstein and his wife Heather Morgan, who were involved in the ha...

In 2016, those who fell victim to the Bitfinex hack were provided iFinex share s as compensation, since the cryptocurrency exchange lacked sufficient funds to fully reimburse its users. iFinex’s parent company, iFinex, has put forward a proposal to repurchase $150 million worth of the company’s shares from those individuals who had been granted these shares as compensation for the $71 million Bitfinex cryptocurrency exchange hack that transpired in 2016, as reported by Bloomberg. The intention to repurchase these shares was disclosed by iFinex in a letter addressed to shareholders, dated September 22. The digital asset company has offered a purchase price of $10 per share for the 15 million shares that were distributed in response to the Bitfinex hack in 2016. At the time of the Bitfinex hack, the exchange lost nearly 36% of its total user balances, all of which were in Bitcoin. However, Bitfinex was incapable of providing users with full compensation due to a shortage ...