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Bitfinex Shareholder Starts Pre-orders for Exchange Token’s Public Sales – CoinDesk

Bitfinex Shareholder Starts Pre-orders for Exchange Token’s Public Sales – CoinDesk

news Even though iFinex, the parent company of Bitfinex, has not published an official white paper for its exchange token offering, one of its shareholders has already kicked off pre-orders for the token sale. On May 4, Renrenbit, a crypto-lending application founded by Bitfinex shareholder Dong Zhao, started taking in pre-orders from users who want to…


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Even supposing iFinex, the parent company of Bitfinex, has not published an real white paper for its trade token offering, idea to be one of its shareholders has already kicked off pre-orders for the token sale.

On Might per chance honest 4, Renrenbit, a crypto-lending utility founded by Bitfinex shareholder Dong Zhao, started taking in pre-orders from customers who wish to participate within the overall public share of the trade’s upcoming $1 billion token sale.

Zhao said Bitfinex is aiming to listing the trade token, dubbed LEO, for getting and selling in about per week after the token offering completes, and that Bitfinex and iFinex isn’t going to take care of any LEO tokens. 

According to Renrenbit’s real Telegram channel, retail investors who’ve completed know-your-customer verification on the utility are already committing each as much as $1,000 price of tether (USDT), the crypto stablecoin pegged to the U.S. buck operated by Bitfinex’s affiliated company Tether.

Users with extra than $1 million price of USDT on Renrenbit, alternatively, are idea to be popular investors and can restful not have barriers on essentially the most commitment for pre-orders.

Notably, it used to be Zhao who urged Bitfinex to behavior an trade token offering as a manner to resolve the downside of $850 million being frozen after a lawsuit from the Original York Attorney Accepted’s Keep of abode of job. The pass also comes honest correct a day after Zhao disclosed by his Weibo anecdote a summarized draft white paper for Bitifnex’s offering of its LEO token, which is aimed to elevate $1 billion by a deepest sale closing on Might per chance honest 10, after which a public sale will take care of finish space if it’s not yet fulfilled. 

On the opposite hand, it’s not yet known for the time being when the overall public sale, if it happens, is scheduled to total. Zhao declined to share how many pre-orders its platform has gathered since the effort started or how many tokens in total his platform will provide on behalf of its customers.

Bitfinex image by Shutterstock

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