Bitfinex to Burn all LEO Exchange Tokens in New UNUS SED LEO Transparency Initiative

Bitfinex has been in the news recently for a number of damning reasons, mostly stemming from their affiliation with controversial stablecoin Tether, who has been under investigation from the New York attorney general’s office for making false claims as well as covering up significant business losses

Despite this, they are moving forward with new business developments that will hopefully put them back in the news for better reasons. For one, it was announced on June 14, 2019, that they have launched a transparency Initiative for their exchange token LEO.

The LEO transparency initiative, which is the name of the new initiative, was built around real-time token burn Redemption mechanism. This is tied to Bitfinex’s new decision to buy back tokens from the market every hour by…

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