Tron’s TRC20 Based USDt Deposits and Withdrawals Now Supported by Bitfinex Exchange
- According to an announcement made by Bitfinex's core dev team yesterday, users looking to transact with the firm’s USDt offering will have to undergo a number of KYC checks.
- Bitfinex was recently involved in a coverup scandal involving Tether that is estimated to be worth USD $800 million.
As per a recent blog post, Bitfinex will now be accepting Tron-based USDT deposits and withdrawals. The announcement comes at a time when the once-premier crypto exchange is being faced with a lot of legal scrutiny in regards to its role with the recent Tether “volume inflation” scandal.
Additionally, in regards to the matter, it should be pointed out that New York Supreme Court judge, Joel M. Cohen, recently delayed his verdict on the aforementioned Bitfinex-Tether case – thereby allowing the trading platform to resume its regular business operations (at least for the time being.)
In the wake of all these developments. Bitfinex's PR team recently issued the following tweet online:
“Bitfinex has enabled full support for Tron-based USDt deposits and withdrawals. Announced in March 2019, TRC20 USDt seamlessly facilitates the movement of fiat-pegged tokens across the Tron network.”
Bitfinex has enabled full support for Tron-based USDt deposits and withdrawals.
Announced in March 2019, TRC20 USDt seamlessly facilitates the movement of fiat-pegged tokens across the Tron network.
— Bitfinex (@bitfinex) July 30, 2019
For those of our readers who may not be aware of Bitfinex’s ongoing woes, the firm was recently accused of using Tether to cover up its losses (that are estimated to be worth $800+ Million).
The above stated announcement has not been well-received by the crypto community at large, mainly because the trading platform's image has taken a massive beating over the course of the past few months.
Lastly, it is important to remember that Bitfinex does not currently operate within the United States.