After a week of rumors, it became clear Bitfinex is serious about its initial exchange offering (IEO), aimed at raising as much as $1 billion in a mix of private investments and a crowdsale. The sale of the LEO token arrived as it became clear that Bitfinex was having liquidity problems after some of its funds were locked in relation to the activity of Crypto Capital, the payment processing company.
As investor Dong Zhao revealed, there is a document outlining the parameters of the sale for the new token.