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Bitfinex to issue exchange token, shareholder claims

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Despite the recent lawsuit against them, cryptocurrency exchange Bitfinex may be planning to issue a proprietary exchange token, a Bitfinex shareholder told CoinDesk. Chinese trader Dong Zhao claims that while the “details are not 100 percent confirmed,” the exchange is planning the issuance. Zhao suggests Bitfinex could issue $850 million-worth of tokens, approximately the same amount the exchange has lost access to when it was seized by the authorities in the U.S., Poland and Portugal from Crypto Capital, Bitfinex’s partner. The company’s CFO has promised stakeholders the funds. 

“The issuance method could be similar to that of other exchange tokens, which were distributed through pre-paid trading fee packages,” he said. He believes “exchange tokens have better liquidity” since they are the only tokens that are not “shitcoins.” According to Zhao, Bitfinex CFO Giancarlo Devasini personally assured him that the exchange only needs a few weeks to unfreeze the funds.

Article source: https://www.theblockcrypto.com/tiny/bitfinex-to-issue-exchange-token-shareholder-claims/