[4] Bitfinex was founded in December 2012 as a peer-to-peer Bitcoin exchange offering digital asset trading services to users worldwide.

[6] In 2015, Bitfinex partnered with Palo Alto company BitGo to offer highly-secured "wallets" that allow people to store their digital currencies online.

The order also found that Bitfinex violated the Commodity Exchange Act by not registering as a Futures Commission Merchant.

[28] Referring to the 2016 hack, IRS Commissioner Charles Rettig said, "This was also the largest single financial seizure recorded by the federal government.

"[29] Separately, Bitfinex worked with the U.S. Department of Homeland Security to recover about $315,000 in cash and cryptocurrencies stolen in the 2016 breach.

The funds will be redistributed to holders of Bitfinex's Recovery Right Tokens, digital coins issued to people who suffered financial losses due to the hack.

[35] In April 2017, Bitfinex announced it was experiencing delays in processing USD withdrawals after Wells Fargo cut off[36] its wire transfers.

Shortly after the Wells Fargo cutoff, Bitfinex stated all international wires had been cut off by its Taiwanese bank.

[40] In March 2018, British Virgin Islands-based Bitfinex confirmed the exchange’s plans to relocate its primary server infrastructure to Zug, Switzerland.

[citation needed] Phil Potter, Chief Strategy Officer of Bitfinex, left the exchange on June 22, 2018.

[41] On October 15, 2018, Bitfinex said that a few days earlier it temporarily paused fiat deposits for certain customers amid processing complications.

[43] Tether and Bitfinex funded the development of HolePunch, an encrypted, peer-to-peer communication platform and made its code open-source in December 2022.

"[44] In April 2019, New York Attorney General Letitia James launched an investigation accusing Bitfinex of using the reserves of Tether, an affiliated company, to cover up a loss of $850 million to a Panamanian payment processor known as Crypto Capital Corp.[45][46] Reggie Fowler, who is alleged to have connections with Crypto Capital, was indicted on April 30, 2019, for running an unlicensed money-transmitting business for cryptocurrency traders.

[46] James alleged that in 2018 Bitfinex knew or suspected that Crypto Capital had absconded with the money, but that their investors were never informed of the loss.

[51] In September 2022, Bitfinex, alongside several other leading exchanges, temporarily paused all deposits and withdrawals of Ethereum-based tokens during the Ethereum software upgrade known as the Merge.

[52] In December 2022, Bitfinex released its "Freedom Manifesto," a document that highlights the advancement of distributed, open-source software that aligns with the libertarian ideas of Austrian School economists and cypherpunks' approach to writing code.

[54] In April 2023, Bitfinex was granted a license by El Salvador’s National Digital Asset Commission to operate in the country.

The court found that the plaintiff lacked "plausible allegations of injury" because there was no evidence showing "USDT had a diminished actual value.