Bitfinex Successfully Raises $1 Billion in Tether From Investors Says CTO

Paolo Ardoino, the chief technical officer (CTO) at Bitfinex, has said that the exchange has successfully raised $1 billion in stablecoin Tether (USDT) from investors including private companies and industry "giants." Earlier this month, Zhao Dong, a billionaire investor in Bitfinex, confirmed that the exchange is planning to raise upwards of $1 billion in light of the Office of the New York Attorney General's filing of a lawsuit against iFinex, the parent company of Bitfinex and Tether. The NYAG alleged Bitfinex of mismanaging $900 million of Tether's cash reserves in an attempt to "cover-up" its loss of over $850 million that occurred during its dealings with the now-defunct Crypto Capital Corp.

"Bitfinex is able to raise 1b USDt in 10 days, in a private sale. Private companies, giants in our industry and outside, made investments for > 100m each. A legion of inside and outside users made investments for > 1m each," Ardoino said, adding "why? Because they know we are trustworthy, they recognize what we have been doing (without needing us bragging about it publicly) and they want us keep fighting for the industry whole. Their own words. Thank you everyone for the amazing support we got. We are impressed."