[ad_1]
Zhao Dong, shareholder of Bitfinex, a cryptocurrency exchange, has released a new promotional material detailing the first exchange offer (IEO) of the exchange up to $ 1 billion. The information was shared in a tweet from Dong on May 4th.
The document, which would have been released by iFinex – the company behind Bitfinex and Tether (USDT) – announces the availability of a chip of up to USD 1 billion. The token described in the marketing document, which specifies that it is not a white paper, is intended to be the utility token at the heart of the company's ecosystem.
The marketing document promises LEO tokenholders the benefit of crypto-crypto transaction fees on Bitfinex and the company's EOSfinex decentralized exchange. In addition, the token would also grant a lower reduction in commission on loan fees, a reduction in withdrawal and deposit fees, as well as a reduction in commission on derivatives.
The document promises that users will enjoy the same benefits on future iFinex trading platforms, products and services.
The document also states that LEO sales will not be available to citizens of the United States and Canada, among other jurisdictions.
The sale of chips aims to cover $ 850 million of stock market funds, which are currently locked in several accounts under the control of a payment processor, the Cryptographic Press Point The Block, announced today. The publication quotes an excerpt from the white paper of the new token.
Last week, the New York Attorney General's office accused Bitfinex of using Tether's funds to cover the $ 850 million lost.
Rumors about Bitfinex seeking to raise funds via an IEO began in late April, while Zhao confirmed the rumors earlier this week, with fewer details.
Also last week, Cointelegraph announced that Tether's lawyers had confirmed that the firm had only enough cash to fund three-quarters of the growing supply of its stable USD, the USD.
[ad_2]
Source link