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Centralized Exchanges

Bitfinex's LEO

Oct 13, 2019 ⋅  4 min read

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.

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