Bitfinex, Tether deny mismanagement as links come under scrutiny
Bitfinex, the largest cryptocurrency exchange, and dollar-linked cryptocurrency issuer Tether have denied claims of mismanagement weeks after a $30m hack of the platform. Both condemned the allegations as being made by "questionable actors" and said Bitfinex aims to be "the most transparent crypto exchange in the industry". However, the exchange provides no information on management and it has only just acknowledge its links with Tether after the connection was revealed in the leaked Paradise Papers.

SAN FRANCISCO — As the price of Bitcoin has soared, the virtual currency has edged toward the mainstream.

Square, the fast-growing payments company run by the Twitter co-founder Jack Dorsey, has begun selling Bitcoins to ordinary consumers, and the Chicago Mercantile Exchange will soon allow banks to trade on the value of Bitcoin.

But if you want to see where the price of Bitcoin is actually determined in round-the-clock bidding, you have to go to a number of unregulated exchanges that often fly in the face of American and European laws.

These days, no exchange is bigger than Bitfinex, an opaque operation that provides no information on its website about where it is or who operates the company.