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  • Bitfinex are releases its white paper for its official exchange token sale worth $1 billion.
  • The exchange also said it will launch its first IEO allowing other projects to raise funds in June.

Bitfinex, cryptocurrency exchange has released their official white paper for its exchange token sale, worth a big $1 billion token sale. It also detailed the launch of a dedicated platform for projects, in order to raise capital via similar initial exchange offerings (IEOs), which will commence from next month.

The published white paper from the exchange confirmed recent reports that they are targetting to raise up to $1 billion worth in the Tether (USDT) stablecoin, selling its own exchange token, known as LEO, in a private sale.

It detailed in the white paper:

 “If fewer than 1 billion USDT tokens are sold by private token sale, the Issuer may thereafter sell remaining tokens at times