Since the establishment of the first crypto-to-fiat platform, exchanges have been subject to intense scrutiny from banks, regulators, and most importantly, the consumers and investors themselves. Despite its veteran status in this nascent industry, Bitfinex isn’t exempt from this scrutiny, as a few too many controversies have rocked the Hong Kong-based startup over its near-six-year history. Reports suggest that the next scandal is brewing as we speak, leaving traders wondering — what’s next for Bitfinex?
Bitfinex Opens Account With HSBC, Fiat Deposits Remain Closed
Per insider knowledge, as relayed by Bloomberg, Noble Bank, a Puerto Rican financial services provider, dropped clients in early-October as it ran into harsh financial issues. Although this news slid under the radar of legacy market investors, many in the tight-knit crypto community were shocked when sources divulged that Noble had lost the business of Bitfinex and Tether.