Bitfinex’s iFinex Considers $150 Million Share Buyback

The owner of crypto exchange Bitfinex, iFinex Inc.,
is considering a share buyback offer of $150 million. This initiative aims to
provide relief to the investors, who were originally compensated with BFX
tokens after Bitfinex suffered a substantial hack in 2016.

According to a report by Bloomberg, this proposal is
equivalent to 9% of iFinex’s outstanding capital and places the company at a
valuation of $1.7 billion. The offer targets shareholders who obtained iFinex’s
stock as part of a swap arrangement with the investment platform BnkToTheFuture
in 2016.

Additionally, the proposed share buyback is driven
by a desire to have more control over the company’s operations, especially with
the increasing regulatory scrutiny in the crypto industry. As the regulators
globally intensify their focus on the sector, this buyback could offer iFinex
greater autonomy and financial flexibility.

Following a hack in 2016 that led to a loss of
approximately $71 million worth of Bitcoin
Bitcoin

While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that

While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that
Read this Term on Bitfinex at the time, the crypto exchange
issued BFX tokens. Subsequently, iFinex redeemed the tokens in exchange
Exchange

An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform…