Bitfinex Will Start Trading of Exchange Token on Monday


Bitfinex finally to list its new token(LEO) over it’s New Exchange list starting this Monday as they had collected enough funds of about $1 billion after it’s initial offering.

In an announcement on Friday, Bitfinex confirmed the tokens Full name which is UNUS SED LEO is surprisingly the name of the token’s formal issuer and is finally set to be listed on the platform and tradable against the Bitcoin.

But the company has been rumoured to be considering this token sale so as to make up from the loss of about $850 million shortfalls which was backed in the previous month.

Paolo Arduino, the exchange’s chief technology officer, previously said that the firm had already closed its fundings and coin offering last week with an investment ranging from about $1 million to $100 million.

While making it more clear to the contenders about the sale, Bitfinex said that it had sold 100 percent of its tokens, in return for $1 billion in USDT.

To this verdict of the Bitfinex executive which gained a huge milestone of success the Blockchain Community had a whole post over it which said:

“In addition to our excitement around bringing such an unprecedented and powerful token to the heart of our community, the Bitfinex team remains dedicated to continuing to grow and develop core infrastructure for our industry as a whole.”

The Exchange said that soon after the first trade they will start buying parts of the circulating Exchange tokens every month based on their capital rise so as to unlock funds for its payments processor held via the Crypto Capital.

To this, the Attorney General’s office revealed that they have lost access to its funds held by the Crypto Capital and also the reasons behind that loss.

In the recent court filing, the firm agreed that their funds have been seized by the authorities of U.S, Poland and Portugal but they are still working over it to gain access over them.

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