Bitfinex made $21M in Q1, LEO exchange token burns suggest

InstitutionalMay 5, 2020, 11:32AM EDT
UPDATED: March 10, 2022, 5:38PM EST
Bitfinex made $21M in Q1, LEO exchange token burns suggest
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Bitfinex generated $21.4 million in revenue in Q1, an analysis of LEO token burns indicates. This is an increase of 96% from 4Q19 but a slight decrease from 3Q19.

LEO, Bitfinex's exchange token, was announced in May last year after Bitfinex allegedly raised $1 billion in USDT and USD in a private token sale. The firm issued LEO to cover the $850 million frozen in several accounts controlled by the payment processing company Crypto Capital.

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