Cryptocurrency exchange Bitfinex announced it has integrated the Lightning Network Wumbo channels.
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The exchange says the Wumbo channels will allow users to deposit and withdraw "large amounts of bitcoin quickly and cheaply, thus allowing them to take advantage of trading opportunities."
"They will also enable retailers and service providers to build new, innovative applications and sell high-value goods and services over the Lightning Network as they help to reduce the requirements to open and close multiple channels," the exchange said in an official announcement.
Bitfinex believes the public will have the ability to open channels up to 2 BTC capacity with either of its nodes. Digital wallet providers like Bitrefill, LnMarkets and Lightning Labs, could open channels with up to 5 bitcoin capacity, Bitfinex adds.
Earlier in September, New York state court extended an injunction for Bitfinex by 90 days to provide documents requested by the court.
In 2019, New York Attorney General Letitia James accused the exchange of concealing the loss of commingled client and corporate funds.
New York state Judge Joel M. Cohen says he will defer to the referee to find out which documents related to the USDT stablecoin are pertinent to the case.
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