Bitfinex launches whitepaper for imminent IEO; looks to retrieve funds to make up for $850M loss

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Bitfinex will roll out their Initial Exchange Offering [IEO], which is expected to reel-in in a whopping $1 billion. This follows the recent news of the Hong Kong exchange trying to cover up their undisclosed loss of close to $850 million.

According to the exchange’s shareholder Zhao Dong, Bitfinex has formally rolled out its IEO whitepaper. The tokens issued in light of the IEO are titled LEO and would be tabled before private investors prior to public offerings post-May 10.

The exchange…

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