The Bitfinex initial exchange offering (IEO) continues to see speculation on social media. So far, the statements from Zhao Dong, a figure related to Bitfinex, have not been verified. But there are suggestions on how the sale may go through.
Dovey Wan, the Twitter account that broke the rumors, suggests the IEO attempt may in fact be a way for Bitfinex to mop up Tether (USDT) from the markets. This may happen if Bitfinex accepts USDT for the sale of a new token, and then ends up replacing the value of USDT with another asset: