Review on Bitfinex by Jeff Shaw
popular exchange with some transparency issues
Bitfinex was founded in 2012 and is now based in Taiwan. The 24 hour transaction volume is 52,000,000 USD USD with exchange liquidity of industry leading 87,000,000 USD. Bitfinex's leads all exchanges on liquidity with 13,000,000 USD more than the second most liquidity exchange. Bitfinex has high quality real trade volume confirmed by Bitwise and the Blockchain Transparency Institute. In April of 2019 BItfinex the New York Attorney's office was investigating Bitfinex for using Tether funds to cover losses from a custodial bank that lost funds.
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Pros
- liquidity
- trading volume
Cons
- transparency
- loss of funds from a partner bank
