As Tether customers pull money out, it wants some of its remaining dollars to be put to use instead of sitting in a bank, according to its attorneys.
Now that word is out that cryptocurrency exchange Bitfinex is missing $850 million that it may or may not ever see again, parent company iFinex is trying to raise $1 billion by selling a new exchange token to be called a LEO.
Federal prosecutors suspect the man behind Bitfinex’s “missing” $850 million stole at least $60 million of it, and may also be involved in counterfeiting U.S. currency.
Part of Bitfinex’s “missing” $850 million is now in the hands of the U.S. Department of Justice. Meanwhile, a controversial businessman was arrested for falsely setting up accounts that let exchanges—including Bitfinex, based on claims in the indictment—skirt bank rules and the law.