Altcoin News: Bitfinex Has Received Confirmation from Investors Willing to Buy All Available LEO Tokens

May 9, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The parent company of the Bitfinex exchange has received hard and soft commitments from investors for the purchase of all LEO tokens issued by it for $1 billion in USDT.

“There’s a high possibility Bitfinex will not conduct a public sale” wrote Bitfinex shareholder Dong Zhao on WeChat this Thursday.

The soft commitment confirmation assumes that the investor has not yet made USDT on the purchase of LEO and may refuse the transaction. Thus, today’s announcement does not mean that Bitfinex is guaranteed to be able to get the stated amount. As Zhao explained, if one of the investors decides to give up, their tokens will be distributed in favor of other potential campaign participants in the queue.

Zhao’s own firm has already given a soft commitment and has made the necessary amount of USDT, but he refused to disclose the amount of the investment. What is the proportion of such evidence in the total amount is unknown. Zhao claims that users of the Renrenbit crypto-credit application belonging to him have expressed their readiness to invest $20 million guaranteed.

On Wednesday, Bitfinex published a white paper on its website, for the first time officially confirming plans to hold a token sale and revealing some other information. In the document, Bitfinex explained that it could sell the remaining tokens in such a way and at such a time that it deems most appropriate if the entire amount cannot be raised in a closed campaign.

Author: Marko Vidrih