Bitfinex raises $1 billion and launches LEO token
Published On : 2019-05-20 10:03:36
Bitfinex completes its IEO and raises $1 billion from private investors.
Their native token LEO, also known as UNUS SED LEO, will start trading against Bitcoin, Tether, Ethererum, EOS and US dollar.
The exchange allegedly lost $850 million in tether, which led to the beginning of this IEO.
“Upon publishing the UNUS SED LEO whitepaper last Friday, May 10th, Bitfinex conducted and completed a private sale of 100% of outstanding UNUS SED LEO tokens in exchange for one billion USDt worth of Bitcoin, USD, and USDt,” Bitfinex announced earlier.
Despite the skepticism surrounding the exchange and stable coin Tether, Bitfinex still managed to raise funds in a quickly manner.