On May 20, Bitfinex launched the UNUS SED LEO (LEO) cryptocurrency trading. The site has added LEO trading pairs with Bitcoin (BTC), Tether (USDT), Ethereum (ETH), EOS and the US dollar.
— Bitfinex (@bitfinex) 20 мая 2019 г.
Earlier, Bitfinex held a closed initial exchange offering (IEO) of LEO virtual currency. In just a few days, the exchange managed to sell a billion tokens for $1 per coin. Thus, the amount of investment attracted during IEO was $1 billion.
The trading platform decided to release the LEO digital asset in order to cover the costs connected with freezing of $850 million in the account of the payment operator Crypto Capital. The project documentation states that Bitfinex will buy back and then burn LEO until it has destroyed all the coins in circulation.
Holders of UNUS SED LEO virtual currency receive certain advantages, for example, a discount on the processing orders fee on Bitfinex. That is why there is a great demand for tokens, especially among large traders. The success of IEO and the commencement of LEO trading suggest that investors trust the exchange, despite charges of concealing the loss that the New York State Prosecutor’s Office filed.
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