Ethereum Weak Keys, Tether & Bitfinex Drama & Coin Picks | Synopsis w/ Stoner & Stokesy Ep.1
Although iFinex, the parent company of Bitfinex, has yet to provide official white papers on the upcoming IPO, exchange shareholder Zhao Dong has already begun accepting pre-orders for future platform tokens..
After Bitfinex confirmed that it could not access the $ 850 million processed by payment service provider Crypto Capital, the company decided to raise funds by selling its own $ 1 billion LEO cryptocurrency..
Tokens will be backed 1: 1 with USDT stablecoins or $ 1. LEO holders will be able to use them to get discounts on trading commissions on the Bitfinex platform and its two decentralized versions EthFinex, EOSFinex.
A published marketing document submitted by Zhao Dong says that 27% of iFinex’s monthly income will be guide to buy back tokens until there are less than 100 million of them left.When using LEO to reduce fees, they will be burned.
However, the text of the document indicates that it has no legal force and does not provide any technical specifications of the future product, information about the blockchain and the features of the code. Despite this, the shareholder has already organized the acceptance of pre-orders from those wishing to participate in the public stage of the sale of tokens..
Using the Renrenbit app, those who have passed the KYC procedure can reserve up to 1,000 USDT for further exchange for LEO. Investors with more than $ 1 million are considered accredited and can place an unlimited order for the purchase of tokens.
Zhao Dong claims Bitfinex will add LEO to the platform one week after the IEO ends and will distribute all 100% of the issued assets.
IFinex’s plans and lack of official documentation have caught the scammers’ attention. The network has already begun to appear fake wp, through which attackers want to steal funds from interested buyers.
text: Ivan Malichenko, photo: shutterstock