Hong Kong-based crypto exchange Bitfinex claims to have processed around $1 billion in cash withdrawals alone in October, according to the recent announcement that was posted on official Bitfinex Blog.
It is reported that cryptocurrency exchange faced extensive amount of withdrawals that followed the news about its banking health and uncertainty of Bitfinex customers. Thus, Bitfinex successfully confirmed 700 withdrawals in fiat estimated at about $1 billion.
Our banking remains stable, but we must prioritize our long-standing and loyal customers using the platform so that they can continue to benefit from our truly unique offering, the benefits of which extend far beyond our users and include many crypto-to-crypto and crypto-to-stablecoins exchanges.
Bitfinex also announced the update of its withdrawal fee policy and will now charge 3.0% on all external wire withdrawal requests exceeding the following frequency or size limits in order to protect long-standing and loyal customers.
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