Bitfinex Is Near To Cover The $850M : Is The USDT-TRON Incentive Plan Near Too?
The Bitfinex Platform Succeeds In Obtaining Commitments Of $ 1 Billion To Buy The LEO Digital Currency
According to one investor in the Bitfinex platform, the company received pledges worth $ 1 billion to buy the digital currency (LEO), the digital currency of the platform.
Dong Zhao, the founder of DGroup and an investor in Bitfinex, said there was a high probability that Bitfinex would not make a general sale of the LEO digital currency and be a special sell-off.
Zhao told CoinDesk that the platform has received commitments and pledges of $ 1 billion of the dollar-denominated digital currency (USDT), the stable currency linked to the US dollar issued by Theether.
It should be noted that these undertakings contain certain conditions that allow individuals to withdraw from the transaction. Bitfinex has not yet succeeded in raising the required amount. If any of these investors withdraw, the collective and public sale will be carried out across the platform, Zhao said:
Bitfinex announced its intention to launch a digital currency of its own, days after the New York prosecutor charged that the platform had lost about $ 850 million.
Also, Zhao continues by saying his company, DGroup, had already invested in LEO digital currency purchases but declined to disclose the amount. This news comes one day after the release of Bitfinex platform official paper on its website.
In what this news is related to the $20M Justin’s incentive plan?
On 1st May, Justin Sun, Tron’s CEO, announces that he will postpone the USDT rewards program until the problem between Bitfinex and Tether be solved:
I’ve decided to postpone our #USDT rewards program for future updates until there’s more clarity regarding @bitfinex and @Tether_to. Regardless, I firmly believe stablecoins will continue to play a big role in the blockchain space. $TRX #TRX #BTT $BTT https://t.co/xpe1eA2URK
— Justin Sun (@justinsuntron) May 1, 2019
And according to the unofficial news written in the article above, if Bitfinex has really raised the $1 Billion, the $20M incentive plan of USDT-TRON will be released soon.
USDT token information:
USDT is the USD-pegged stablecoin issued by Tether on the TRON network. The token will be able to complete issuance, holding and transfer via smart contract on TRON, with a completely free and transparent process, zero transfer fee, and instant delivery; it will also be able to write programs that are highly expansible based on the smart contract. TRC20 based USDT enables interoperability with TRON-based protocols and Decentralised Applications (DApps) while allowing users to transact and exchange fiat pegged currencies across the TRON Network.
TRC20 based USDT smart contract address:
Please note, that is not a bit of financial advice, nor the WhaleToBe team’s view.
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