Bitfinex parent offers $150m share buyback to regain control
iFinex, the owner of Bitfinex, has offer ed a $150 million buyback to those who bought its share s as part of a 2016 swap arrangement. Bloomberg has learned that the parent company of the Bitfinex crypto exchange and Tether, iFinex Inc., is seeking to buy back its share s from investors. The firm wants to get more control over its private dealings. According to the document sent to investors, the Hong Kong-based company had reportedly offered $10 per share for 15 million shares to those investors who bought stock as part of a 2016 swap arrangement when Bitfinex suffered a $71 million hack. At the time, the exchange offered users BFX tokens, which were later redeemed in exchange for shares. With the buyback offer, iFinex wants to “support the Bitfinex Group’s regulatory applications and to address scrutiny,” the document says. You might also like: Bitfinex hackers may plead guilty, prosecutors to recover $3 billion As noted by Bloomberg, the deal repres...