Questions about how Bitfinex is staying afloat with no publicly known bank backing them is inciting dangerous theories. In light of the recent Tether heist\u2014which saw a culprit (or culprits) make off with $31 million worth of its US dollar-backed tokens, USDT, talks about an inside job are not the only ones circulating. Theories of a possible collusion between Tether and Bitfinex to rig the cryptocurrency market are also surfacing. Here\u2019s what\u2019s circulating in the corners of the web: no bank wants to partner up with Bitfinex, so they\u2019re pumping the price of BTC in order to keep a steady flow of depositors and keep anyone from cashing out of the exchange. And while the pump part of this isn\u2019t scary from a HODLer\u2019s perspective\u2014it\u2019s the dump that is. In a Medium post, user Bitfinex\u2019ed\u2014who is dedicated to \u201cexposing fraud by largest Bitcoin exchange, Bitfinex\/Tether\u201d\u2014outlined a possible pump-and-dump scheme perpetrated by Tether and its partner Bitfinex, in an attempt to buy some time until the exchange can find a bank that\u2019s willing to accommodate their transactions. This is problematic. Last year, Bitfinex had a falling out with Wells Fargo, the last bank that was willing to process their transactions. And shortly after, they suffered the largest Bitcoin robbery since Mt Gox\u2014in August 2016, the exchange lost 120,000 BTC to what it says was a hack. It didn\u2019t help that their decision to \u201cdistribute the losses equally\u201d amongst user accounts was met with controversy. Neither did the fact that they gave no clear explanation as to how exactly the hack happened, when the funds were in a multi-signature wallet and required two of three signatures. Although they were able to \u201cpay off\u201d users by offering them equity, the lack of transparency and refusal to submit to audit compliance did not sit well with the public. The multi-million dollar hacks of both companies\u2014which are said to be owned by the same people\u2014have users doubting the credibility of their statements. Tether itself has also been shady, marketing their tokens as \u201cmoney for the internet,\u201d yet repeatedly stating in the less conspicuous legal section of their website that Tethers are not money and that they are under no obligation to exchange users\u2019 Tethers with actual money. To date, it\u2019s still unclear which bank processes Bitfinex\u2019s transactions\u2014if there is even one. Since the Wells Fargo fallout, they haven\u2019t been transparent about who they\u2019re banking with. Their casual admission of creating shell companies to bank for them probably didn\u2019t do them any favours either. Or maybe they do have a bank, but can\u2019t admit it to the public because the bank they\u2019re banking with unwittingly dealt with them through one of their shell companies. To circumvent the banking problem, user Bitfinex\u2019ed says Bitfinex is likely employing Hawala banking. \u201cBitfinex essentially match-makes you with someone wanting to withdraw from their exchange, and you send the money directly to the other party withdrawing.\u201d This doesn\u2019t seem so bad at first glance. It\u2019s either they facilitate trading as if they were just serving as a peer-to-peer online matching platform, or throw in the towel and close down\u2014which they don't seem to be keen on doing. But as Bitfinex\u2019ed points out, this can end in tears. \u201cWell, there\u2019s a problem. This requires a never ending stream of money coming into the exchange. The minute the prices of Bitcoin turns bearish, and the prices continuously fall, eventually people will stop catching knives, money coming in comes to a trickle, and people are wanting to withdraw and nobody wants to deposit. So, the only choice Bitfinex has, is to relentlessly manipulate the price of Bitcoin up for as long as possible so that people always want to deposit, until they are able to re-establish a legitimate banking partner.\u201d So then what happens when they finally establish a banking partner? They will no longer need to artificially inflate BTC prices. And there goes the dump. The same would happen if they were to close down. To be fair, if the BTC price were to crash, it wouldn\u2019t exactly be a surprise. And it probably would take a lot more than one exchange pulling off some \u201ccat-and-mouse tricks.\u201d Whether this is true or not, BTC\u2019s current value is, in fact, primarily backed by speculation. If we could set aside our inner blind fanatics and look at things objectively, perhaps we could really look out for when the bubble will burst. Any cryptocurrency\u2019s price is never really the core value of a system. Such surges are the result of intrigue and likely, FOMO. But if we were to look ahead to five, ten, or more years from now, such value fluctuations would probably have died down, and the value stability will put an end to cryptocurrencies\u2019 get-rich-quick investment appeal. Hopefully by then, we will all be utilizing cryptocurrencies for what they were really made for\u2014transactions. Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper. Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.