Bitfinex and Tether Break Silence, Go on Media Blitz

After months of radio silence, Bitfinex, the world’s largest cryptocurrency exchange, and Tether, the issuer of a dollar-pegged cryptocurrency, are responding to accusations of mismanagement.

In a statement emailed late Thursday to reporters, Ronn Torossian, a newly hired outside spokesman for both companies, blamed “questionable actors” for raising doubts about their financials and controls. Notwithstanding critics, he wrote, Bitfinex is “committed to becoming the most transparent crypto exchange in the industry.”

Specifically, he called out “Bitfinex’d,” the pseudonymous blogger who has thrown shade on the exchange in a series of lengthy Medium posts and YouTube videos.

“Who is Bitfinex’s biggest critic? An anonymous online Twitter user who throws allegations around without ever revealing his or her own identity,” Torossian wrote, adding:

“[W]henever someone lobs accusations and attacks behind the veil of anonymity, one has to question their motives.”

By contrast, Torossian went on to say, “[f]ar from hiding in anonymity, Bitfinex is led by a strong management team.” However, his statement did not name any of the managers, and as of Thursday evening they were still not listed on Bitfinex’s website.

The company is run by CEO Jan Ludovicus van der Velde, Chief Strategy Officer Phil Potter and Chief Financial Officer Giancarlo Devasini, Torossian said in a email.

Audit coming soon

The statement is also noteworthy for acknowledging that Tether is “related” to Bitfinex.

The link between the two organizations was long the subject of speculation but only recently confirmed by documents contained in the leaked Paradise Papers, which showed that Potter was a director and Devanisi a shareholder of Tether…

Read Full: Bitfinex and Tether Break Silence, Go on Media Blitz