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BitMEX Operator HDR Global Provides Bitcoin Core Contributor Michael Ford A $60,000 Grant

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BitMex owner and operator has awarded $60,000 grant to a Bitcoin Core developer Michael Ford, aka “fanquake” on Github.

In an official company’s blog produced on July 12, BitMex owner as well as HDR Global Trading announced they were happy to provide the grant to Ford. The company also noted that Ford has been an integral Bitcoin contributor dating back to 2012 has just recently been included in the latest official maintainer of the Bitcoin Core software project.

This signifies that the developer’s key has been included to the “trusted keys list” file within GitHub which allows him to have the capacity to merge in alterations in the Bitcoin Core codebase.

HDR Global Trading said that the grant was a way of providing material support to those that work on a voluntary basis to enhance the development of the cryptocurrency.

The CTO of HDR Global Trading and co-founder of BitMEX, Sam Reed, said that the work of coders is difficult, demanding, and often thankless and his company believes that it is the responsibility of companies to support the projects from which they benefit and from which their business model are based. He said:

“HDR Global Trading Limited, like all other companies in the cryptocurrency space, relies heavily on the (mostly-volunteer) work of coders dedicated to the mission and ideals of Bitcoin.”

According to the post, the grant is non exclusive and Ford will be required to work on Bitcoin core as a core software maintainer. Reed said he expected

Ford to further enhance the network’s robustness, scalability and anonymity.

The post indicates that the grant was provided on a “no-strings-attached” modality saying that Ford will not be required to contribute anything to BitMex.

BitMex notes that it is through the crucial work done by numerous developers like Ford that various firms like BitMex and others can claim their success:

“Without the millions of free man-hours from dedicated OSS developers powering everything from our operating systems, to our web servers, to our ops tools and Bitcoin itself, the BitMEX trading platform could not have been built.”

HDR Global Trading said it was happy to be the first company to appreciate the work done by Michael Ford by supporting him financially.

In the recent past, HDR Global Trading has offered unconditional donation to MIT Digital Currency program that specializes on research into the creation of a crypto ecosystem in the world. The firm noted at the time that it was focused on helping the contributions by Bitcoin Core developers Wladimir van der Laan and Cory Fields.

Late last month, BitMex which is the largest Bitcoin derivatives provider, posted record volumes in its operations as Bitcoin’s price roared past $13, 000. The platform recorded $1 billion of open interest in the market, as well as more than $16 billion across the BitMex’s full product range.

Should other crypto-based firms give back to developers? Share your thoughts with us in the comments section.

Source. bitcoinexchangeguide.

Bitfinex

Bitfinex to file a motion to dismiss $1.4 trillion worth class action law suit

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  • Bitfinex denies the accusations and fines a motion.
  • The exchange explained its position in this case in a recent blog post.

The cryptocurrency exchange Bitfinex intends to file a motion to the Southern District of New York to dismiss the “frivolous class-action lawsuit” to the tune of $1.4 trillion.

Last month, a group of investors filed a class-action lawsuit against iFinex Inc., its subsidiaries and top managers, accusing them of violating the U.S. Commodity Exchange Act, the RICO Act, money laundering, Pump & Dump schemes, market manipulation through the issuance of USDT and deliberate fraud of investors.

Bitfinex believes the allegations are unfounded and insufficient “even for the earliest stage of the trial.” Representatives of the exchange emphasized that a significant part of the arguments is based on a recent study by professors John Griffin and Amin Shams. According to the document, a major player at Bitfinex allegedly could control the price of bitcoin in 2017 and the rally was the result of market manipulations.

The company is convinced that the study contains “methodological flaws”, and the statement that only one whale could cause a rapid rally of bitcoin is “ridiculous”.

Read also: Bitfinex denies money laundering and claims to be a victim of fraud

The complaint also ignores an array of other factors that contributed to the spike in the price of bitcoin in 2017. Furthermore, the complaint claims, without evidence and in defiance of reason, that somehow Tether manipulated a

market more than seven hundred times the size of total Tether USDT issuances in circulation between March and December of 2017, something that any sophisticated and rational observer of the digital token ecosystem knows to be ridiculous”.

Finally, Bitfinex stressed that it intends to zealously defend the interests of the company, its users, stakeholders and the cryptocurrency community.

Notably, the founder of Crypto Capital, Oz Yosef, who is involved in the Bitfinex bitcoin exchange case against the state of New York, was charged with bank fraud at the end of October.

Shortly before this, Bitfinex issued a statement according to which the exchange not only did not help Crypto Capital with money laundering but also became a victim of fraud.
 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

source:fxstreet

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Bitfinex

Bifinex is readying the launch of options and gold-backed Tether for early 2020

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  • Cryptocurrency exchange Bitfinex set to launch options and gold-backed Tether.
  • CTO Paulo Ardoino was detailed that the plans are for Q1 2020 for the new products. 

The Chief Technology of Bitfinex cryptocurrency exchange, recently revealed that the firm’s ambitious plans for 2020. They include a debut within the options offering, in addition to gold-backed Tether. In

CTO Paulo Ardoino was speaking in a podcast with the BlockCryto, he covered ground on much of the issues ranging from the allegations of market manipulations, to then provide some details on upcoming products that Bitfinex plans to offer including options and a gold-backed stablecoin. 

Ardano said:

So our goal is to launch options in Q1 2020. We are working, so in order to trade futures on Bitfinex, you have to be verified. And we are excluding, of course, also certain jurisdictions like Canada and few others, because we believe that we want to be really protective of our users. 

He added:

Tether gold. I think that what excites me is to seed or give the ability of letting

people to to use tether gold and having a sort of comparison between physical gold and digital gold that is bitcoin.  Of course, we’ll be fully gold-backed. We are working the system to be sure that every single you know, every single tether gold is linked to a specific gold bar

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

source:fxstreet

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Bitfinex

Bitfinex allows withdrawing bitcoins to SegWit addresses

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  • The cryptocurrency exchange now supports bech32 addresses.
  • The platform also added new charting tools for deriv
    ative trading.

Cryptocurrency exchange Bitfinex added support for bitcoin withdrawals to bech32 addresses. This is a native Segwit address format that consists only of lowercase letters and offers greater protection against typing errors as it is not case-sensitive.

“Bitfinex has been supporting Bitcoin withdrawals on Pay To Script Hash (P2SH) wrapped addresses. This address format starts with the number 3. As bech32 addresses only exist on the Bitcoin network, our new support for Bitcoin withdrawals to bech32 addresses removes the possibility of our clients experiencing any cross-chain mix-ups,” the company explained.

This format is also supported by Gemini and Kraken, while in October, the head of Binance Changpeng Zhao also hinted on the possibility of SegWit support.

Notably, in September 2019, SegWit support surpassed 50% threshold, which means that over half of all transactions are processed by this protocol.  In October the SegWit adoption peaked at 57.2%; however, by the time of writing, the figure has retreated to 52.94, according to Transactionfee data.

Separately, Bitfinex added new charting tolls for derivative instruments to provide the customers with insights and historical data on liquidation fund balance. funding rate, spread and open interest.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Source .fxstreet

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