Bitfinex's Private Token Sale Raised $1 Billion in 10 Days, Exec Says

Cryptocurrency exchange Bitfinex has raised $1 billion through its native token in a private sale, according to its chief technology officer.

Monday that Bitfinex has achieved the target in just 10 days, with participation from "Giant" firms from both within the cryptocurrency industry and outside.

Some of the investors, which were not named, invested over $100 million each, Ardoino‏ said, adding that others also contributed investments of over $1 million each.

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.

Last week, Bitfinex shareholder Dong Zhao announced that the exchange had received $1 billion in hard and soft commitments, adding "There's a high possibility Bitfinex will not conduct a public sale" of its exchange token, dubbed LEO. Bitfinex announced.

The token offering earlier this month, days after the New York Attorney General's office revealed.

In its official white paper for the token sale, released last week, the exchange said any funds recovered will be used to "Repurchase and burn" outstanding LEO tokens.

Bitfinex will launch a dedicated platform for projects to raise funds via similar initial exchange offerings next month.