FinTech news in Bitfinex category

A Cloudflare outage on Tuesday knocked out numerous popular web services, including major crypto exchanges FTX, Bitfinex, and OKX, raising questions about the security of centralized crypto platforms.

US Securities and Exchange Commission chair Gary Gensler made his concerns clear in an interview with Bloomberg on Tuesday, calling out crypto exchanges for offering multiple services that are often in conflict with one another, such as custody, market-making, and trading. Gensler specifically took aim at the top three largest stablecoins — Binance USD, USD Coin and Tether — saying that it is not a coincidence that they are all closely tied to crypto exchanges.

The U.S. Justice Department (DOJ) has seized over 94,000 bitcoins that were allegedly stolen in the 2016 hack of crypto exchange Bitfinex and arrested a married couple suspected to have laundered the money, the department announced today. While Morgan and Lichtenstein were not formally accused of perpetrating the hack.