Cryptocurrencies
Speculation Mounts That Crypto Exchange Bitfinex Is Planning a Token Sale
- Twitter filled with references to $1 billion token offering
- Exchange accused by New York of hiding losses of $850 million
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What do you do after New York’s highest legal official accuses you of engaging in a scheme to hide about $850 million in losses by commingling corporate and client funds?
Apparently, in the case of cryptocurrency exchange Bitfinex, you make plans to raise up to $1 billion from investors to shore up the company’s financials through what’s become known as an initial exchange offering.