Bitfinex plans to move after Binance

According to the news in Handelszeitung, Bitfinex, one of the world’s largest cryptocurrency exchanges, plans to move to Switzerland.

Speaking to the weekly Swiss-German newspaper, Bitfinex’s CEO Jean-Louis van der Velde said, “We are looking for a new home for Bitfinex and parent company iFinex. We want to consolidate operations that are spread over several locations.” said.

The authorities of the exchange are also holding various talks with the Swiss authorities at the moment.

The CEO of Bitfinex also said, “We want to be the most transparent of all exchanges and meet the requirements of the Swiss regulator.”

Bitfinex has been in trouble for a while due to its relationship with Tether, which is allegedly used to manipulate the market. In January, it was revealed that Bitfinex was subpoenaed by the US Commodity Futures Trading Commission for this reason. Bitfinex is said to be considering moving to Switzerland due to legal pressures.

On the other hand, Binance has made a similar decision to Bitfinex. The stock exchange announced in a recent statement that the company would move its operations to Malta.