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Bitfinex Halts Trading Amid 'Reduced Performances'
The Hong Kong-based exchange said it is temporarily halting trading while investigating issues on the platform.
Updated Sep 14, 2021, 1:19 p.m. Published Jul 1, 2021, 11:05 a.m. 1 min read
Cryptocurrency exchange Bitfinex said it halted trading on Thursday, citing issues with "platform reduced performances."
- The Hong Kong-based exchange tweeted at 10:17 UTC Thursday (6:17 a.m. ET) that it was temporarily halting trading while it investigated issues on its platform.
- In a subsequent tweet, Bitfinex said it had identified the cause and was working to restore trading. All funds are safe, it said.
- Bitfinex suffered a similar problem last August, when reduced performance of the platform was also cited as the reason.
Read more: Robinhood Suffers Crypto Trading ‘Issues’ as Ether, Dogecoin Soar
UPDATE (JULY 1 11:44 UTC) Adds Bitfinex identifies cause, says funds are safe.
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Fund manager Michael Kramer says a $150 billion liquidity drain from upcoming U.S. Treasury operations could push bitcoin sharply lower.
What to know:
- Michael Kramer of Mott Capital Management warns that upcoming U.S. Treasury operations could drain about $150 billion in liquidity, potentially deepening bitcoin's price selloff.
- He argues that bitcoin acts as a leading liquidity indicator and has already broken key support near $75,000 amid an 11% pullback from recent highs.
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