Bitfinex adds five stablecoins in notable Tether parting

Bitfinex – a major, and somewhat controversial, force in the cryptocurrency exchange sector – appears to have made good on its promise to break away from its long association with the Tether stablecoin.   

In a blog post today, Bitfinex has joined Binance in moving away from a reliance on Tether (USDT), by adding a range of stablecoins to its markets.

Last week Binance announced plans to changed what was previously its Tether (USDT) market listings to a broader ‘USDS’ (US dollar stablecoins) Market, with a pronouncement that it would widen its range of options for pairings in due course. Today, in a blog post, Bitfinex fleshed out similar plans as part of its new-found “commitment to providing coin agnostic platforms”, following its long-held association with the equally controversial Tether (USDT) stablecoin – a relationship that has driven conspiracy theories (and apparently attracted the attention of the US Federal authorities) for some time now.

Last week, in announcing its new withdrawal facility for big-ticket USDT users, Tether itself appeared to attempt to distance itself from Bitfinex in a similar way, describing the exchange – which infamously shared senior management (and still, apparently, shares a bank – the Bahamas-based Deltec) – as little more than a company with whom it “had a business to business relationship.”