Bitcoin Surges Over 10% Amid Massive Tether (USDT) Selloff (CryptoGlobe).

Bitfinex has today (Oct 15th) released a statement addressing the pausing of fiat deposits on the exchange last Thursday (Oct 11th). The statement comes amid an all-time-high Bitcoin price premium on Bitfinex of 11.28% as the lead image shows.

Explaining that on Thursday the exchange decided to pause fiat deposits for “certain customers in the face of processing complications,” Bitfinex reiterated that fiat withdrawals remained open for the entire period and continue to operate as normal.

Emphasising that the deposits were only temporarily suspended, Bitfinex explained that they are working to put in place a “new and increasingly robust fiat deposit system” to be available by Tuesday (Oct 26th) and thanked users for their patience while the problem was being addressed.

Banking Problems

Following previous reports of banking problems with Noble Bank and Wells Fargo, research from TheBlock last week suggested that Bitfinex had lost its banking relationship with HSBC – a development which many connected to the exchange’s suspension of fiat deposits on Thursday.

Responding to CryptoGlobe last week, Bitfinex commented:

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