Confessions of Bitfinex,
In an industry where Even the APPEARANCE of a conflict of interest is not acceptable. Management team owns and actively trades with 2 of the top 10 accounts. All while having access to sensitive insider customer data including every open customer position. Additionally, some suspicious shorts of considerable size were placed by top 10 accounts immediately before Bitfinex came out publicly regarding the hack.
Director responds
The Director of Bitfinex has admitted he has traded bitcoins for years but has always assured everyone that he does NOT trade bitcoin on the platform for just these reasons.
Community Response
The backlash has been massive. There have been cries of everything from conflict of interest to insider trading. There are now serious concerns over Bitfinex staff trading with insider access to sensitive customer positions.
There will be more repercussions as this story develops.
What do you think the consequences of this discovery will be?