Bitfinex owner offers to buy back shares worth $150 million: Bloomberg
Quick Take
- iFinex, owner of the crypto exchange Bitfinex, wants to repurchase $150 million worth of shares as it seeks to shore up its control over the company.
Hong Kong-based iFinex, owner of the crypto exchange Bitfinex, has offered to repurchase $150 million worth of shares as it seeks to shore up its control over the company, according to Bloomberg.
The firm, which values itself at $1.7 billion, contacted shareholders late last month, the report said, with Bloomberg citing a document it had seen. The offer was to buy back 15 million shares at $10 a piece, it also said. That represents about 9% of iFinex outstanding capital.
The "buyback is the result of 'positive performance' by the company over the last few years," according to a statement from iFinex that was cited by Bloomberg.
iFinex did not immediately respond to a request for comment from The Block.
Bitfinex suffered a hack that caused it to lose $71 million in bitcoin in 2016. In August, a New York couple pleaded guilty to money laundering conspiracy in connection with the hacking of Bitfinex.
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