Bitfinex owner offers to buy back shares worth $150 million: Bloomberg

Hong Kong-based iFinex, owner of the crypto exchange Bitfinex, has offered to repurchase $150 million worth of shares as it seeks to shore up its control over the company, according to Bloomberg.

The firm, which values itself at $1.7 billion, contacted shareholders late last month, the report said, with Bloomberg citing a document it had seen. The offer was to buy back 15 million shares at $10 a piece, it also said. That represents about 9% of iFinex outstanding capital.

The “buyback is the result of ‘positive performance’ by the company over the last few years,” according to a statement from iFinex that was cited by Bloomberg. 

iFinex did not immediately respond to a request for comment from The Block. 

Bitfinex suffered a hack that caused it to lose $71 million in bitcoin in 2016. In August, a New York couple pleaded guilty to money laundering conspiracy in connection with the hacking of Bitfinex.







© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Read More:   Solana-based Convergence RFQ raises token round at valuation of $30 million

About The Author

Scroll to Top