Bitfinex Exchange Plans to Hold the First $1 billion IEO

Bitfinex cryptocurrency marketplace plans to hold an initial exchange offering (IEO) for a record value of $1 billion. This was announced on Twitter by the user under the nickname Zirui, with a link to the tweet of the owner of shares of the company Zhao Dong.

According to Dong, in the course of IEO, it will be possible to buy a cryptocurrency for stablecoins Tether (USDT). Some large investors have already reserved USDT tokens in the amount of $300 million to participate in the exchange offer from Bitfinex. If the marketplace accepts Tether as payment for coins during IEO, it will reduce the number of digital assets in circulation by almost 3 times (by 1 billion).

Co-founder of the blockchain startup Primitive Ventures, Dovey Wan, reported that the administrator of the exchange Twitter account (@bitfinex) confirmed the information about the upcoming IEO.

However, representatives of the company have not yet commented on the news of the initial exchange offering. Zhao Dong’s publication indicated that there is a high probability that Bitfinex will launch IEO soon. Therefore, it is probably still too early to claim something.

On April 10, OKEx exchange held the first IEO from Blockcloud. 500 million BLOCK tokens worth $2.5 million were bought out in just a second. Before this, the record for the speed of the exchange offer belonged to the Bittrex trading platform, which managed to sell the cryptocurrency in 10 seconds.

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