Bitfinex’s Private Token Sale Raised $1 Billion in 10 Days, Exec Says

Cryptocurrency Exchange Bitfinex raised $ 1 billion through its local token in a private auction, according to its chief technology officer.

Paulo Arduino piped on Monday that Bitfinex had achieved the target within just 10 days, with the participation of “giant” companies in both the cryptocurrency industry and outside. The funds were collected in the form of USDT, the solidcoin operated by a closely linked office, according to a tweet.

Some of the unnamed investors invested more than $ 100 million in each, said Erdoino, adding that others also contributed more than $ 1 million each.

Paulo Arduino
@Pololinoino Tweet
. @bitfinex is able to raise 1b USDT in 10 days, in a private operation. Private companies, giants in our industry and beyond, invested more than $ 100 million in investments. A legion of internal and external users invested 1 meter each.

“They know we’re reliable,” and have a “good understanding” of the company, CTO said in other tweets.

“Because there is some misunderstanding, most of the money was raised by an investor who went directly to iFinex and signed it directly with iFinex,” he said.

Last week, Bifinx shareholder Dong Zhao announced that the exchange had received a billion dollars in hard and soft liabilities, adding that “there is a high possibility that Bitinfex will not make an auction” of its exchange symbol, known as Leo.

Bitfinex announced its initial offering this month, days after the New York attorney general’s office found it was seeking more information on the $ 850 million loss. The missing funds, which were held by a third party payment processor Crypto Capital, have been captured by some authorities, iFinex claimed.

In its official white paper for the sale of a token, published last week, the exchange said all recovered funds would be used as “buy back burn” outstanding LEO tokens.

Bitfinex will launch a dedicated platform for fundraising projects with similar initial exchange offerings next month.

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