Bitfinex May Try to Raise $1B With Own Token Sale

According to the founding partner of Primitive Ventures Foundation, "folks are selling the allocation of its IEO in a few channels"
30 April 2019   1065

Bitfinex Cryptocurrency Exchange, presumably, intends to issue its own token and raise $ 1 billion in USDT by selling it. This was announced by the founding partner of Primitive Ventures Foundation Dovey Wan.

Earlier, Bitfinex was involved in a scandal because of the prosecution of the prosecutor's office in New York in an attempt to conceal the fact of losing $ 850 million using the reserves of its affiliate Tether.

There is no other information on this issue at the moment, however, the crypto-community on Twitter is already showing considerable interest in the alleged and ambiguous step of Bitfinex.

Also on Monday Bitfinex’ed provided a copy of the document, allegedly an agreement between Bitfinex and Tether, to provide the first loan of $ 900 million dated March 19, 2019. Bitfinex’ed pays attention to the issue of USDT from March 19 to April 25, when stablecoin's capitalization increased by $ 853 million, which, according to some, may be evidence of unsecured emissions.

Zirui published a message allegedly written by Bitfinex investor Zhao Dong, who previously disclosed insider information. 

 

Neo Foundation to Withdraw $11M From Cold Wallet

These funds will be used to finance its operations in currrent reporting year and $190M are stiill in the vault
26 March 2020   970

On March 25, the Neo Foundation announced the withdrawal of 1,660,865 NEO ($ 11 million) from the cold wallet to finance its activities in the current reporting year. About $ 190 million are still in reserves.

According to rules established in the Neo White Paper, the NEO tokens maintained by the Neo Foundation are mainly used to continuously support Neo's technological development, ecosystem growth, community expansion and the normal operations of the foundation and related organizations. 

 

Neo Foundation

According to the publication, 1,660,865 NEOs were transferred “from a blocked account to a current account”. As the information on the blockchain shows, these funds were directed to an address containing 14.6 million NEO or about $ 100 million. The project does not disclose who controls this address and what fate awaits the released tokens.

White paper Neo suggests that project costs in any given year should not exceed 15 million tokens. In the near future, a financial report for 2019 will be published.

At the time of publication, NEO is the 23rd largest asset on the market with a capitalization of $ 479 million. The price of one NEO is $ 6.79.