Bitfinex and Kraken Exchanges Declare Support for Impending Bitcoin Cash Blockchain Fork
The impending Bitcoin Cash hardfork is gaining popularity in the crypto community, particularly among institutional investors.
On November 15, the Bitcoin Cash network will undergo a hardfork to create the Bitcoin ABC blockchain protocol. So far, this highly anticipated event has received support from a number of large cryptocurrency exchanges. The latest trading platforms to indicate their support are Bitfinex and Kraken.
In their announcement, the Bitfinex crypto exchange informed their users that it will complete taking snapshots of Bitcoin Cash wallet balances on November 15. Also, the platform will suspend all transactions involving Bitcoin Cash (both deposits and withdrawals) on the same day.
On their part, Kraken declared that they would shift their platform to the newly created Bitcoin AC blockchain. To ease this transition, Kraken will develop wallets that are compatible with the Bitcoin ABC blockchain protocol.