Bitfinex raised $1 billion during closed IEO

• The company’s CTO confirmed the news.  
• The IEO was finished in ten days.  

The cryptocurrency exchange Bitfinex raised $1 billion during the private stage of Initial Exchange Offering (IEO), according to the statement of the Chief Technical Officer (CTO)  Paolo Ardoino.  

“Bitfinex is able to raise 1b USDt in 10 days, in a private sale. Private companies, giants in our industry and outside, made investments for > 100m each. A legion of inside and outside users made investments for > 1m each,” he wrote in hist Twitter account.    

He further elaborated that many small investors participated in the token sale along with large industry players, because they trusted the company.  

“Why? Because they know we are trustworthy, they recognize what we have been doing (without needing us bragging about it publicly) and they want us to keep fighting for the industry whole,” he added.  

He thanked the community for their confidence and support which was valuable for the trading platform.    

It is worth noting that several days ago Bitfinex investors confirmed that they were willing to purchase the whole LEO issuance (LEO is the token issued by the exchange) to the tune of $1 billion. The company received soft and hard commitments from various investors before the token sale.    

Should the tokens had not been sold out during the closed stage, the company would have sold them to a public during an open phase of the crowd sale.