Wednesday, September 22, 2021
Home News Bitfinex $1 Billion IEO Details Leaked - Plans To Use Money...

Bitfinex $1 Billion IEO Details Leaked – Plans To Use Money To Cover Frozen Funds

In yet another strange twist to the Bitfinex saga last week, Bitcoin investor Dong Zhao leaked an official Bitfinex document laying out hard proof of their upcoming token sale and LEO token. 

Dovey Wan kicked off with a rumour last week on Twitter.

Bitfinex, based in the British Virgin Islands is currently being investigated by regulators and having problems due to its association with Tether. As reported in Blockchain News last week, NY Attorney General Letitia James, stated that iFinex, the holding company of both Tether and Bitfinex, may be participating in “ongoing activities that may have defrauded” cryptocurrency investors. A 23-page document signed by Brian Whitehurst, the Assistant Attorney General, rolled out more incriminating accusations. 

According to investigators,  Bitfinex currently is missing about $850 million thanks to their relationship with a dodgy Panama-based payment processing company called Crypto Capital who allegedly have funds frozen by governmental regulators in Poland, Portugal, and the United States.

It appears that Bitfinex is looking to hedge against not recovering the funds from Crypto Capital by doing a massive token sale and joining the Huobi and Binance tokenized exchange club.

The exchange has not made any official statement so far but apparently, according to Coindesk, On May 4, Renrenbit, a crypto-lending application founded by Bitfinex shareholder Dong Zhao, started taking in pre-orders from users who want to participate in the public phase of the exchange’s upcoming $1 billion token sale. 


Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
- Advertisment -

Most Popular

Latest News