Bitfinex will survive, just like its name "Finex" [Phoenix] implies, says the shareholder Zhao Dong

The whole Bitfinex-Tether fiasco had plunged the collective cryptocurrency market into chaos last week. Since the charges were revealed, a significant portion of the market capitalization of crypto-space has also been lost as several altcoins collapsed. However, an influential BTC and a Bitfinex shareholder felt that all was not over. In a recent article on Weibo, Zhao Dong said that Bitfinex will survive.

Bitfinex and Tether [USDT] have been in the news after the Attorney General of New York State accused Crypto-Exchange of using Tether's reserves to cover his $ 850 million loss of funds.

Dong wrote that he was "lucky to become a shareholder of Bitfinex" and that the results for him were very happy. Commenting on the issue, he added,

"I think this time too, Bitfinex will not be a problem."

Dong was in the news after revealing that Giancarlo Devasini, chief financial officer of Bitfinex, had badured him that the situation was repairable and that frozen funds from the stock market would be thawed in a few weeks. The aforementioned funds have been frozen in several banks in the United States, Poland and Portugal. Dong had also previously ruled out any concerns regarding the creditworthiness of the crypto-stock market in the future.

Dong also cited the Wells Fargo incident, claiming that the "exchange" had been forced to create a USDT solution to solve the problems of deposits and withdrawals "after the freezing of funds from Bitfinex by Bitfinex for $ 140 million. The exchange then sued Wells Fargo for thawing these funds, he added.

In the same Weibo article, Zhao Dong also said that despite his recent suffering, Bitfinex would survive, just as his name says "Finex" (Phoenix). Dong ended his message on Weibo with an enigmatic statement saying:

"I think this time too, Bitfinex will not be a problem.
Because what does not kill you makes you stronger!

Dong is one of the many crypto-Chinese enthusiasts who do not care about this episode and its implications for the stable distribution market. In fact, many Chinese traders rely on the FUD that surrounds Tether. [USDT] pushing traders to empty their USDT reserves in hopes of buying them at a very low price. Some outside the Asian continent have also examined the good side of this episode. Mike Belshe, CEO of BitGo, said:

"The deaths @Tether_to and @bitfinex will ultimately be a boon for digital badets and cryptocurrency. Whatever the short-term impact, it will help digital badets to take the next level. "