Giant Cryptocurrency Exchange Announces Support for Ethereum PoW (ETHW)!

Bitfinex, on Ethereum Before Merge Ethereum PoW (ETHPoW) announced its plans to support its fork.

Cryptocurrency Many big names in the industry also announced that they would support this new fork. Bitfinex was the last exchange to join them.

BitFinex Derivatives Launches ETH CST Implementation To Support Ethereum Fork

BitFinex announced the launch of New Chain Split Tokens (CST) for ETH in a press release on Tuesday.

iFinex Financial Technologies, a subsidiary of iFinex Inc, was responsible for the launch. iFinex Financial Technologies runs the operations of BitFinex Derivatives.

With the launch of the Ethereum CST, users will have the opportunity to buy and sell both the ETHPoW fork and the ETH PoS tokens originating from Merge on the BitFinex Derivatives platform.

The statement stated that both tokens will be separate and will also be available in reciprocal trading pairs. The tokens will have the abbreviations ETHS (PoS) and ETHW (PoW).

Speaking on the subject, Paulo Ardoino, CTO of BitFinex Derivatives, said:

“We are delighted to provide our users with access to these new Ethereum Chain Split Tokens (CST) to help prepare for all possibilities as we approach ETH Merge.”

Also, Jag Kooner, product manager of BitFinex Derivatives, highlighted the necessity of this move. According to Kooner, the team wants to provide users with the best experiences on the exchange. Kooner also advised customers to provide feedback on product designs like this one.

This new fork in the ETH network was put forward by Proof of Work miners who did not want to give up their income.

*Not investment advice.