Home News Bitfinex Crypto Exchange to Debut New Exchange Utility Token

Bitfinex Crypto Exchange to Debut New Exchange Utility Token

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Major cryptocurrency change Bitfinex has unveiled its change utility token UNUS SED LEO, in a press release on May 17.

The token will likely be useable for quite a lot of exchange-based actions and can start buying and selling on Bitfinex on May 20 in opposition to tether (USDT), bitcoin (BTC), ether (ETH), U.S. {dollars} and EOS pairs.

The whitepaper for the venture, printed on May 10, describes LEO as “a utility token at the heart of the iFinex ecosystem.” iFinex is the mum or dad firm of Bitfinex. iFinex purports that it supplies a stronger and extra impartial infrastructure, having migrated from Amazon Web Services to a self-designed knowledge middle.

Bitfinex reportedly raised 1 billion tether (USDT) price of U.S. {dollars}, bitcoin and tether for the token during its preliminary change providing.

As just lately reported by Cointelegraph, the New York Supreme Court just lately allowed Bitfinex and related stablecoin venture Tether to proceed enterprise throughout proceedings introduced in opposition to it by the New York Attorney General (NYAG).

The NYAG initially claimed that Bitfinex misplaced $850 million and subsequently used funds from Tether to secretly cowl the loss. Bitfinex responded to the allegations, saying the NYAG claims had been inaccurate. The change mentioned it might battle the case in courtroom:

“And rest assured that we will vigorously challenge the false assertions made by the New York Attorney General’s office in their filing… In particular, we want to assure you that the allegation that we have ‘lost’ $850 million is categorically false.”

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