Bitfinex, currently the most controversial exchange in the cryptocurrency space, changed the Bitcoin Cash ticker symbol on its platform. The ticker symbol, which was changed to BAB following the events surrounding the coin during its hard fork, was changed back to BCH. This move by Bitfinex was quickly noticed by several members in the Bitcoin Cash community, who later prompted other exchanges such as Poloniex and Binance to follow its lead.
After years of smallblock-biased market manipulation, Bitfinex has finally changed the ticker symbol for Bitcoin Cash from the intentionally confusing and derogatory “BAB” to “BCH”. It *only* required the NYAG, DOJ, CFTC to investigate them for fraud first https://t.co/3bJ2ZcZzsM pic.twitter.com/4cs0O9H1yG
— Olivier Janssens (@olivierjanss) May 1, 2019
In November 2018, the Bitcoin Cash [BCH] community divided into two as there were two upgrades that were promoted by prominent influencers, resulting in a hash war. One part of the community was in favor of the changes proposed by the ABC developers, while the other supported the upgrade promoted by Craig Wright and the Coingeek team, Satoshi Vision.
During this period, Bitfinex introduced new Chain Split Tokens to maintain a healthy market and prevent manipulation, thereby resulting in the introduction of BAB and BSV ticker symbol.
gotmd, a Redditor, said,
“This was done out of desperation. They haven’t even announced the change, which they clearly would have done if they ever had legitimate concerns about “confusion”. These people are scammers and frauds. Do not send them any money.”
effgee, another Redditor, said,
“Bitfinex has a lot of hate, and truthfully tether has been both good and bad for the space. But as an exchange, for me, they have the only interface worth trading with. It will be sad if they collapse. I literally can’t stand to trade elsewhere.”
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