CFTC invites Bitfinex! Find out why is this invitation important!

Bloomberg reported that Bitfinex is summoned to Tether before the Commodity Futures Trading Commission (CFTC). It is interesting that this already happened on December 6th. Nevertheless, this news had a dramatic impact on the Bitcoin price through various news portals.

Just few days ago, we looked more closely at Tether and Bitfinex. Already on 20 November in a video, perhaps not so stable Stablecoin was taken. Equally surprising was the reaction of a market that was known to be nervous, which fell below $ 10,000 within a very short time on some stock exchanges.

What was surprising, however: Bloomberg first published the article with a summons of “last week”. Interestingly, last week it was a bit longer than usual, but this invitation was one on December 6th.


In the crypto community, there were understandably some people who thought the classic bon mot “Honi soit qui y y pense” (English counterpart: “A rogue who thinks evil.” ).

Whether this reproach is justified or not, it means this: It is rather a pity that just in the Web 2.0 some people overturned to see in it not only the “death” of Bitfinex, but also of Bitcoin. It was ignored that Bitfinex and the CFTC met once before, which ended for Bitfinex with a fine of 75,000 US dollars.

To further assess the subpoenas and penalties of the CFTC, it is also helpful to know that Bitfinex is far from the only company that is a thorn in the side of the CFTC. German Bank has to pay a fine of 30 million US dollars . So to get in trouble with the CFTC, you do not have to deal with cryptocurrencies.

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Categories: Crypto Currency

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