1/ THREAD: As stated earlier in relation to today’s Bloomberg report on Bitfinex/Tether, I intend to continue reporting and clear up some misconceptions that exist. I focus on the first misconception here, relating to the alleged Bitfinex owned bank accounts.
2/ The misconception cleared up in the Bloomberg piece is relatively small, but significant in more than a few ways that will become clear in time. Here’s the link to the article, I’ll add some detail to it below. bloomberg.com/news/articles/…
3/ Previously, it was reported that Bitfinex has a bank account in Poland, under the name of Crypto SP Z.O.O. – SP Z.O.O. is Polish for LLC – a company in turn owned by Crypto Capital Corp. It was reported as a shell company for Bitfinex, but this is not the case.
4/ Crypto Capital Corp (CCC) is a Panama-based financial institution. It has a license as a ‘remittance house’ in Panama, basically able to handle financial transactions. For those interested, its license is regulated by Panama law 48, issued on June 23, 2003. 
5/ CCC is a payment processor, specifically towards cryptocurrency. Crypto SP Z.O.O. is one of its subsidiaries. Here is QuadrigaCX’s Reddit account replying in relation to the Crypto SP Z.O.O. account. Bitfinex uses their accounts – as do other exchanges – they do not own it.
6/ CCC / Crypto SP Z.O.O. is therefore not a shell company for Bitfinex. The same is true for another Swiss-based CCC subsidiary, Global Trade Solutions AG, which has a bank account in Portugal that Bitfinex used.
7/ CCC is also not an unlicensed institution as previously claimed. Below is an overview from the Panama government of the license in question for both 2016 and 2017, both include CCC.
/END What is clear and reported in the Bloomberg article is that CCC provided Bitfinex with a solution to maintain access to fiat deposits/withdrawals after Bitfinex lost its relationship with corresponding bank Wells Fargo in early 2017.
Forgot to add the screenshot showing Crypto Capital owns Crypto SP Z.O.O.:
