Bitfinex Parent Firm Announces $150M Share Buyback to Protect Hack Victims
The proposal outlines a deal that encompasses roughly 9% of iFinex’s outstanding capital and assigns a value of $1.7 billion to the company.
The proposal outlines a deal that encompasses roughly 9% of iFinex’s outstanding capital and assigns a value of $1.7 billion to the company.
Blockstream said that it will use these funds to expanding its footprint in the Bitcoin mining sectors. Besides, it will help them to bring Bitcoin-focused innovative financial products in the market.
Tether is now the third biggest cryptocurrency by market capitalization. On May 25, it overtook XRP, reaching a market cap of around $8.7 billion. Now it is expected that USDT can become the number two crypto instead of Ethereum.
Two of the many plaintiffs suddenly changed their minds and withdrew their claims without any visible reasons.
The Appellate Division of the New York Supreme Court said that Bitfinex won’t have to continue turning the documents of its Tether use to the New York Attorney General’s office (OAG), for now.
The New York Supreme Court ruled that the matter between the state’s Attorney General and iFinex, the parent company of the exchange Bitfinex, may continue.
Following the 2016 cyber attack on top cryptocurrency exchange – Bitfinex, that brought about its loss of $700 million Customer funds. The number one Asian crypto trading platform claims to have relinquished part of its loan from Tether.
The fresh allegations come from the New York Attorney General’s office that accuses Bitfinex of covering the massive loss by transferring funds from Tether reserves without informing the exchange’s customers.