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Bitfinex has concluded the sale of the $LEO token, the new exchange token. According to CTO Paolo Ardoino, Bitfinex has raised $1 billion USDT in a private sale.
The sale ended on Saturday, and didn't go public as investments of private investors already reached the $1 billion goal. According to Ardoino, Bitfinex raised the money in only 10 days. 'Private companies, giants in our industry and outside, made investments of over $100 million each. A legion of inside and outside users made investments for over $1 million each.
. @bitfinex is able to raise 1b USDt in 10 days, in a private sale. Private companies, giants in our industry and outside, made investments for > 100m each. A legion of inside and outside users made investments for > 1m each.
— Paolo Ardoino (@paoloardoino) May 13, 2019
With the $1 billion worth of USDT raised in the $LEO token sale, Bitfinex is able to cover up the $850 million that got frozen on accounts of payment processor Crypto Capital.
The succesful sale was a result of the trustworthy reputation of Bitfinex, the CTO thinks. 'Why? 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. Their own words. Thank you everyone for the amazing support we got. We are impressed.'
Why? 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. Their own words.
— Paolo Ardoino (@paoloardoino) May 13, 2019
Thank you everyone for the amazing support we got. We are impressed. $LEO
One of the investors is Dong Zhao, who owns equity in Bitfinex. He revealed last week that there was a high possibility Bitfinex would not conduct a public sale, as $1 billion worth of USDT was already secured.
Fastest $1billion raise ever? https://t.co/0h71eoxXwo
— Alistair Milne (@alistairmilne) May 13, 2019