Bitfinex announces support of Ethereum Merge toward proof-of-stake

Rick Steves

Bitfinex will review all forked tokens and take snapshot of all ETH balances and margin positions.


Bitfinex has announced support of the Ethereum Merge, one of the most important chapters in Ethereum’s history as it permanently changes the underlying consensus mechanism to a proof-of-stake system.

“Proof-of-stake” uses an algorithmic lottery to determine who gets to validate transactions (and win tokens as a reward for doing so) out of a pool of “stakers” who temporarily deposit their coins to help secure the network.

Bitfinex said it will enable customers to enjoy a seamless transition as Ethereum undergoes its most significant software upgrade to date.

Monumental event in the history of Ether

Paolo Ardoino, Chief Technology Officer at Bitfinex, said: “The Ethereum Merge is a monumental event in the history of Ether and we will be supporting the Merge, ensuring that our users have a seamless customer experience when it takes place. As we approach this event, customers can also take advantage of the Ethereum Chain Split Tokens we have made available on our platform, which enables the trading of ETHW and ETHS tokens, and position themselves for all eventualities in the run up to the Merge.”

The Ethereum blockchain currently operates on a proof-of-work model and will merge with its proof-of-stake chain. Following this, all transactions on Ethereum will be reached via a proof-of-stake consensus mechanism. The upgrade will make the Ethereum blockchain substantially more energy efficient.

Bitfinex will review all forked tokens and take snapshot of all ETH balances and margin positions

Chain Split Tokens enable users to trade on the potential fork event in the Ethereum consensus protocol, that may result in ETH Proof of Work (PoW) and ETH Proof of Stake (PoS) tokens.

In order to protect Bitfinex users, all forked tokens will go through the same strict listing review process as Bitfinex does for all digital tokens. Bitfinex does not guarantee any listings as per our internal policy.

At the Merge a snapshot will be taken of all ETH balances and margin positions. Bitfinex may pause trading, deposits and withdrawals of ETH for a short period in connection with the Merge.

Bitfinex, which is tied to the world’s largest stablecoin Tether, offers spot and margin trading, staking, borrowing and capital raising. Its offering is not targeted at US residents, who are “strictly prohibited from directly or indirectly holding, owning or operating an account”.

Read this next

Retail FX

Scope Markets launches unleveraged trading

“Whilst our traditional contract for difference (CFD) products continue to prove incredibly popular, the Invest account is unleveraged and only allows ‘long’ positions to be taken, a combination that significantly reduces the risk of capital losses.”


Unlocking Profit Potential: Earn Returns with DecodeEX Experience Bonus!

DecodeEX, the innovative brokerage subsidiary of Decode Global, announced its experience bonus campaign, offering every user the opportunity to maximize their strategic trading potential with up to $10,000 in experience bonus. 

Market News

Pretiorates’ Thoughts 28 – Precious metals and base metals out of control

Ten days ago we mentioned in Pretiorates’ Thoughts 26: Chapter 2 should start with Precious Metals.

Retail FX

Webull launches discount brokerage in Malaysia

“Making investing more inclusive and accessible to all, Webull Malaysia brings best-in-class tools and information to empower investors of all levels with knowledge and skills to help them make better investment decisions and achieve their investment goals.”

Digital Assets

Hidden Road adds OKX’s Nitro Spreads into prime brokerage

“Hidden Road continually seeks to increase market access and capital efficiency through expanded prime brokerage offerings. Integrating OKX’s Nitro Spreads product builds upon this philosophy by extending our counterparties’ ability to execute risk-managed arbitrage strategies.”


Dev Release 31: BlockDAG’s SHA-3 Upgrades Propel Crypto Mining Innovation as Miner Sales Approach 5800 Units

Learn about BlockDAG’s 31st Development Release, which includes advanced SHA-3 updates and a significant increase in miner sales, driving advancements.


BlockDAG Dominates 2024 Crypto Trends: Surpasses $28M in Presales Amid Strategic Partnerships

Explore BlockDAG, Shiba Inu, and Kaspa Killer’s rise in 2024’s crypto market, focusing on BlockDAG’s $28M presales, strategic partnerships, and innovative technology.


BlockDAG’s $30 by 2030 Valuation Prediction and Roadmap Reveal Gains Traction From Filecoin and XLM Investors

Discover why BDAG’s $30 price prediction by 2030 outshines Filecoin Investors’ hopes and XLM’s recent surge with a booming presale and clear roadmap.


BlockDAG Captures $28 Million in Presale, Drawing Investors Away from Ethereum and Bitcoin

Explore how BlockDAG’s revamped dashboard led to a $28 million presale boost, while Ethereum sees a downturn and Bitcoin struggles with hash rate reductions.