Bitfinex has tried to directly seek access to $850 million, which were locked away for the better part of 2019, by issuing a subpoena to obtain documents related to the funds. The fiat reserves, used for the regular workings of Bitfinex were locked away in the spring of 2018, but the exchange announced the news only later.
Since then, Bitfinex has attempted to patch up the hole by loaning some of the assets of Tether, Inc., leaving USDT with a backing of just 74% in fiat sitting in a bank, with the rest in other types of assets. Subsequently, Bitfinex also issued the Unus Sed Leo (LEO) token, reportedly raising above $900 million in a private placement....