Bitfinex Token LEO To Be Listed On Monday

The cryptocurrency exchange Bitfinex will officially list its new exchange token on Monday, May 20th. After raising $1 billion from the initial offering, the Bitfinex token will arrive on the marketplace.

In an official announcement which echoed in the altcoin news on Friday, Bitfinex said that the token – which has a full name of UNUS SED LEO after its formal issuer – will be listed on the platform and tradable against Bitcoin, the US dollar, the Tether stablecoin, Ether and EOS. As the company noted, the Bitfinex LEO came after months of consideration and to make up for the $850 million shortfall in funds.

The exchange’s chief technology officer (CTO), Paolo Ardolno, previously told Bitfinex that it had closed the $1 billion sale last week with investments ranging from $1 million to $100 million. As Bitfinex said in the latest cryptocurrency news, it had sold 100% of the tokens in return for the $1 billion in USDT.

“The overwhelming response and expedient execution of the token sale represents a new milestone for Bitfinex and the greater Blockchain community,” the post describing the Bitfinex LEO token noted and added the following:

“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 statement featured in the coming altcoin news showed.

In a separate whitepaper explaining what the Bitfinex token is all about, the exchange said that it will buy back some percent of its circulating exchange tokens every month – based on its monthly revenue or the unlocking of its funds by a payment processor, Crypto Capital.

Meanwhile, the New York Attorney General’s office revealed that Bitfinex lost access to the funds held by Crypto Capital in April, even though it reportedly provided conflicting stories about why. Many best cryptocurrency news sites showed that the Bitfinex token is a major milestone for the company and a great way to make up for the loss.

In the recent court filings, the exchange said that its funds were seized by authorities in the US, Poland and Portugal – but also that it was working to regain access.