📝 Bitfinex issues white paper for $1 billion token sale; exchange plans to use money to cover frozen funds
Bitifinex's rumored $1 billion initial exchange offering (IEO) is seemingly underway with The Block procuring an excerpt of the exchange's white paper from Bitifinex shareholder Zhao Dong. Under native token LEO, the IEO is purposed for covering the $850 million in funds frozen disclosed by the NY AG's recent allegations. The Block says some $600 million in verbal commitments have been made with the exchange planning on buying back and burning LEO tokens. LEO tokens will be available to private investors first with a secondary public sale planned for May 10th.
Let us know what you loved about the report, what may be missing, or share any other feedback by filling out this short form. All responses are subject to our Privacy Policy and Terms of Service.