Bitfinex’s chief Strategy Officer Leaves Crypto Exchange

According to the resource, the Bitfinex chief strategy officer Phil Potter is leaving the exchange and he will be replaced by the Chief executive JL van der Velde.

In a statement, Potter said;

“As Bitfinex pivots away from the U.S., I felt that, as a U.S. person, it was time for me to rethink my position as a member of the executive team,”

Potter was formerly working at Morgan Stanley and was also one among the three Bitfinex main managers.
Chief executive officer of Tether and Bitfinex said in an email;

“Phil has been instrumental in developing our business as a key senior team member over the past four years”

He also pointed Phil to pursue other opportunities but he didn’t elaborate his statement, He said,

“Bitfinex will continue to focus on strategic global initiatives while Phil pursues other opportunities.”

Bitfinex and Tether – The center of Controversy

The management of Bitfinex was a mystery in the crypto world when Tether (the firm that issue cryptocurrency pegged to US dollar) appeared to be the part of Bitfinex. Recently the Texas research paper claimed that Tether token could have been utilized to manipulate the price of Bitcoin. However, Bitfinex denied the claim of Texas but again the authorities released a report. It was stating that Tether had enough U.S dollar reserves backing its virtual coins in circulation. Following up with Texa’s statement on a manipulative feature of Bitcoin price in late 2017, Global regulators have begun their security on the crypto market. Additionally, the U.S CFTC and the Department of Justice are looking over the cause of Bitcoin price oscillations.

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Qadir AK

Qadir Ak - Co-founder of Coinpedia Blog - His interest as crypto Author, Editor, Speaker at cryptocurrency conference has made him known as passionate blogger and startup in Asia.

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