Bitfinex Derivatives is a digital token trading company that offers a derivatives platform.
Bitfinex Derivatives launched Curve DAO Token’s perpetual contract (CRVF0:USTF0).
Curve DAO Token (CRV) is an Ethereum token that powers transactions on Curve.fi, a decentralized (or non-custodial) exchange, and AMM protocol. The protocol seeks to facilitate swapping between various ERC-20 tokens. These primarily are stablecoins (such as USDC and DAI) and Ethereum-based Bitcoin tokens. These are easier or smoother (for example, WBTC and renBTC).
According to an update released with Crowdfund Insider, CRVF0:USTF0 became live on December 28, 2021, at noon CET paid in Tether tokens (USDT), allowing up to 100x leverage.
We’re thrilled to announce the inclusion of Curve DAO Token to the increasing collection of perpetual swaps accessible to trade on Bitfinex Derivatives. This is according to Paolo Ardoino, CTO of Bitfinex Derivatives. We expect a lot of interest in this product, especially from hedge funds and professional investors looking to control risk.
The Bitfinex Derivatives platform and products are only available to verified users in qualifying jurisdictions. iFinex Financial Technologies Limited, a derivatives platform provider, is in charge. iFinex Financial Technologies Limited is mentioned in the same breath as Bitfinex Derivatives.
Bitfinex’s terms of service apply to all deposits, activities, and users at all times. US citizens do not have permission to use the exchange or any of its services.
iFinex Financial Technologies Limited, founded in September 2019, provides a derivatives platform available through Bitfinex. Specifically, Bitfinex is a digital token trading platform that caters to digital currency traders and worldwide liquidity providers.
Bitfinex also said earlier this month that it had recovered 6.51458211 Bitcoin from a 2016 breach. This recovery is in collaboration with Poloniex, another digital asset exchange, according to Bitfinex.
According to Bitfinex, Recovery Right Tokens (RRT) holders will get pro-rata tokens in the coming days based on the extent of their RRT holdings on 04/12/2021 at 12:31 UTC. Bitfinex would redeem US$308,380.77334107 in aggregate RRTs because the BTC/USD price at the time of the stolen BTC recovery was $47,337.
D73cd60f9ad8cb17e60d2ffd7f0dbe51cb4a89366070667307201caca110ae19 is the transaction hash of the retrieved BTC.
Fines of Bitfinex and Tether
Additionally, Bitfinex stated that it would keep recovering the remaining Bitcoin lost in the incident. The Commodity Futures Trading Commission (CFTC) ordered Tether and Bitfinex (iFinex) to pay $42.5 million in fines. This is according to a report in October 2021.
Tether, a leading dollar-based stablecoin, must pay $41 million regarding claims that Tether (USDT) entirely supports the US dollar.
CFTC fined Bitfinex, a cryptocurrency trading platform of $1.5 million for illicit transactions and violating a previous ruling.
The tether shall also refrain from violating the Commodity Exchange Act (CEA) or CFTC regulations in the future.
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