Following news that Tether lost $850 million in reserves through a counterparty Bitfinex, a sister company to Tether, conducted a token sale raising $1 billion. While not explicitly stated, a portion of these funds will likely be used to shore up Tether's reserves.
While many features of LEO are standard fare for exchange tokens the unique relationship with Tether and a historic hack in Bitfinex's past makes this token unique amount its peers.
Upgrade to Messari Pro to read this report
Pro SubscriptionUpgrade to Pro
Professional-grade Research Reports covering the latest trends and assets in the crypto space
Fundraising Screener to track trends across 14,000+ crypto funding rounds, 500+ M&A Deals, and 10,000+ investors
Unlocked Enterprise Research Reports 90 days after they are published
Full access to advanced asset screening with custom filters, queries, and metrics
Real-time Governance Tracker covering proposals from their initial stages through votes and implementation
Advanced AI Digests with all of the features in Lite plus Key Developments for major protocol changes
Already a member? Sign In
