Billionaire Chinese crypto investor, founder of DGroup and shareholder at Bitfinex Exchange, Zhao Dong, has advised the embattled cryptocurrency exchange to issue native coin to fight the ongoing crypto crisis.

In a comment made on Bitfinex’s ongoing crisis via Weibo, and translated by Coinness.com, Dong suggested that Bitfinex issue native token equivalent to the frozen $850 million.

The founder said: “If Bitfinex takes this opportunity to issue its native coin to overcome the crisis, I don’t know how many people would choose to believe and support Bitfinex.”

Dong said Bitfinex can “buy back” and lock corresponding USDT and give users who support Bitfinex corresponding returns, Coinness quoted Dong as saying.

In a separate statement on Telegram, Zhao Dong said “The current supply of USDT is around $2.9 billion, and Bitfinex has at least 2.1 billion dollars in its reserves. As far as I’m aware, it should be around 2.3 billion dollars. Tether lent $600 million to Bitfinex.”

Meanwhile, Zhao and one other shareholders of Bitfinex have said they remain undisturbed about the allegation filed against the exchange by the New York Attorney General.

According to Coin Desk, Zhao Dong had claimed in January that the balance of Bitfinex and tether (USDT) reserves was over $3 billion, more than the present circulating supply of USDT.

These balances were revealed to Dong by Giancarlo Devasini, chief financial officer of Tether and Bitfinex.

As to the recent allegation, Devasini told Dong that the exchange requires two weeks to unfrozen the funds.

Bitfinex saga affected the cryptocurrency market, however, it did not take Bitcoin long to recuperate from the attack. CNBC crypto analyst Ran NeuNer has said the lawsuit filed by the New York Attorney General against Bitfinex is good for the crypto society. However, he said it was perpetrated to favour JP Morgan Coin.