Bitfinex, one of the largest cryptocurrency trading platforms, allegedly entered into a partnership agreement with the British bank HSBC, while the market discusses rumors about the alarming financial state of Tether, affiliated with Bitfinex.

New rumors about Bitfinex partner banks

Customers suspect that Bitfinex opened an account in one of the largest banks in the world, HSBC. Bitfinex began to receive dollar deposits from customers to a private account of Global Trading Solution, LLC, opened in the US division of HSBC Bank N.A.

It is still unknown where Bitfinex stored its fiat deposits. After its conflict with the US bank Wells Fargo in the spring of 2017 and problems with Taiwanese banks, Bitfinex keeps information about partner banks secret. According to rumors, the cryptocurrency exchange stores its fiat deposits in the Puerto Rican bank Noble, and it also has a partnership with the Dutch ING.

Representatives of the exchange declined to comment on the alleged cooperation with HSBC.

“Bitfinex does not, and has never, commented on actual or potential business relationships and this is not subject to change now,” Kasper Rasmussen, director of communications at Bitfinex, said in an emailed statement.

The financial status of Bitfinex is questionable

A week ago, the crypto market was shocked by rumors about the financial problems of the Puerto Rican Noble Bank, which, presumably, serves the accounts of Tether, the issuer of Tether stable coins and affiliated with Bitfinex.

Noble Bank is “frantically searching for funding,” reported Modern Consensus, citing two high ranked sources, including one at a large cryptocurrency exchange. The situation is so difficult that the bank is said to be struggling to survive, according to the publication.

“If Noble doesn’t get cash soon, they will only have a few days left,” said one source familiar with the matter to Modern Consensus. “They’re desperate.”

Tether itself may be having troubles of its own. One of the largest holders of Tether tried to sell “tens of millions of tethers” without successfully finding a counterparty.

In response to these rumors, Bitfinex published a statement in which it gave references to three wallets for bitcoins, ETH and EOS, whose cumulative balance is worth more than $1.5 billion. Thus, the Bitfinex team tried to prove that the rumors about its insolvency are not true.