Bitfinex Secures $1 Billion From Private Investors

Bitfinex, the embattled cryptocurrency exchange, says it raised about one billion in USDT from private investors even amid accusations that the company and Tether covered up losses to the tune of $850 million.

Bitfinex: Investors Trust us, We Need Not Brag

Paolo Ardoino, the chief technology officer (CTO) of Bitfinex announced the news via a tweet published on Monday (May 13, 2019). According to the tweet, the company raised one billion in USDT and its equivalent in the space of ten days from private companies and individual investors.

. @bitfinex is able to raise 1b USDt in 10 days, in a private sale. Private companies, giants in our industry and outside, made investments for > 100m each. A legion of inside and outside users made investments for > 1m each.

— Paolo Ardoino (@paoloardoino) May 13, 2019

Ardoino said each participating firm invested at least $100 million while individual investors committed an average of the $1 million to the fundraising drive. The Bitfinex CTO said the swift nature of the capital raising…