Once the Ethereum network upgrade occurs , a snapshot will be taken of all ETH balances and margin positions. We may pause trading, deposits and withdrawals of ETH for a short period in connection with the Merge, but otherwise we will endeavour to support the Merge in a way that is as seamless as possible to our users. Please look for further announcements regarding what pauses, if any, will be implemented in connection with the Merge. Following the Merge, ETH balances will reflect ETH on the updated Ethereum protocol which uses a Proof of Stake consensus mechanism. One or more forks could emerge in connection with the Merge. Bitfinex intends to evaluate any potential forked tokens and make a determination about whether to support that fork. Bitfinex does not guarantee that any forked tokens, including any fork of ETH will be supported or made available for trading. Please look for further announcements on that topic as more information becomes available. If Bitfinex decides to support one or more forked tokens, Bitfinex intends that users with an ETH balance in their Bitfinex Account as of a to-be-determined fork snapshot will receive forked tokens. Users will receive these tokens after the fork snapshot and all necessary accounting reconciliations are complete. Users who are engaged in peer-to-peer financing activities on Bitfinex in ETH at the time of the fork snapshot should be aware that: Users with Margin short ETH positions will be debited an equivalent amount of the forked token from their margin wallet. There is no guarantee that Bitfinex will open a market for the forked token. Any decision by Bitfinex to list or not list a forked token market will not impact your obligation to settle any negative balances. A failure to timely settle negative balances may result in Bitfinex settling those balances at prevailing market rates, as determined by Bitfinex in its sole discretion. .Users with Margin long ETH positions will be credited an equivalent amount of the forked token to their margin wallet. .Users who are lending their ETH will be credited an equivalent amount of the forked token to their wallet balance.. Important Notes. Nothing in this announcement is financial, investment or other advice. Nothing in this announcement is an offer or the solicitation, recommendation or endorsement of any course of dealing. Any references in this post to receipt of a fork of ETH are only hypothetical and not guaranteed. Forward-Looking Statements. Certain statements in this announcement may be forward looking in nature. The words "believe," "expect," "estimate," "could," "should," "intend," "may," "plan," "seek," "anticipate," "project" and similar expressions, among others, generally identify "forward-looking statements," which speak only as of the date the statements were made. The matters discussed in these forward-looking statements are subject to a number of risks, trends and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied in the forward-looking statements. None of Bitfinex nor any of its Associates is responsible for updating or revising any forward-looking. statements, whether as a result of new information, future events or otherwise, except as required by law.