{"id":6763,"date":"2019-05-13T17:51:04","date_gmt":"2019-05-13T14:51:04","guid":{"rendered":"https:\/\/forklog.media\/?p=6763"},"modified":"2019-05-30T20:13:12","modified_gmt":"2019-05-30T17:13:12","slug":"bitfinex-raises-1-billion-via-private-token-sale","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitfinex-raises-1-billion-via-private-token-sale\/","title":{"rendered":"Bitfinex Raises $1 Billion Via Private Token Sale"},"content":{"rendered":"<p>Hong Kong-based cryptocurrency exchange Bitfinex has raised staggering $1 billion through a private sale of its native token LEO, the platform\u2019s chief technology officer Paolo Ardoino\u200f announced Monday, May 13.<!--more--><\/p>\n<p>According to him, the target was achieved in 10 days, with participation from large players representing the cryptocurrency industry as well as outside ventures.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p dir=\"ltr\" lang=\"en\">. <a href=\"https:\/\/twitter.com\/bitfinex?ref_src=twsrc%5Etfw\">@bitfinex<\/a> is able to raise 1b USDt in 10 days, in a private sale. Private companies, giants in our industry and outside, made investments for &gt; 100m each. A legion of inside and outside users made investments for &gt; 1m each.<\/p>\n<p>\u2014 Paolo Ardoino (@paoloardoino) <a href=\"https:\/\/twitter.com\/paoloardoino\/status\/1127839301218254851?ref_src=twsrc%5Etfw\">May 13, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Some unnamed companies invested over $100 million each, while others contributed investments of over $1 million each, Ardoino\u200f claimed.<\/p>\n<blockquote><p><strong>\u201cWhy? Because they know we are trustworthy, they recognize what we have been doing (without needing us bragging about it publicly) and they want us keep fighting for the industry whole,\u201d<\/strong> Bitfinex CTO added in another tweet.<\/p><\/blockquote>\n<p>Paolo Ardoino\u200f added \u2018a correction\u2019 in the thread saying that, since there was some misunderstanding, most of the money was raised by investor who subscribed directly with iFinex, Bitfinex\u2019s parent company.<\/p>\n<p>Following Ardoino\u2019s announcement the price of Bitcoin, having retreated back to $7,000 on Sunday afternoon, is seeing solid gain again. At the time of writing, BTC is 5.50 percent up over the last 24 hours, trading around the $7,500 mark it saw <a href=\"https:\/\/forklog.com\/en\/bitcoin-price-soars-to-75000-to-establish-new-2019-high\/\" target=\"_blank\" rel=\"noopener noreferrer\">yesterday<\/a>.<\/p>\n<p>Bitfinex announced the token offering earlier this month, days after the New York Attorney General\u2019s office revealed that it was looking for more information about the exchange\u2019s alleged cover-up of an $850 million loss. The missing funds, which were held by third-party payment processor Crypto Capital, have been seized by several authorities, iFinex has claimed.<\/p>\n<p>In its <a href=\"https:\/\/www.bitfinex.com\/wp-2019-05.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">official white paper<\/a> for the token sale, released last week, the exchange said any funds recovered will be used to \u201crepurchase and burn\u201d outstanding LEO tokens.<\/p>\n<p>Bitfinex is also expected to launch a dedicated platform for projects to raise funds via similar initial exchange offerings next month.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hong Kong-based cryptocurrency exchange Bitfinex has raised staggering $1 billion through a private sale of its native token LEO, the platform\u2019s chief technology officer Paolo Ardoino\u200f announced Monday, May 13.<\/p>\n","protected":false},"author":1,"featured_media":6764,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"human_written","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[95,48],"class_list":["post-6763","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitfinex","tag-exchanges"],"aioseo_notices":[],"amp_enabled":true,"views":"427","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/6763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=6763"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/6763\/revisions"}],"predecessor-version":[{"id":6765,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/6763\/revisions\/6765"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/6764"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=6763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=6763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=6763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}