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Bitfinex’s LEO tokens to be listed on a Chinese exchange, ZB.COM




Bitfinex's LEO tokens to be listed on a Chinese exchange, ZB.COM
Source: Unsplash

Bitfinex’s LEO tokens, a hot topic of discussion on crypto-Twitter recently, is now going to be listed on a Chinese exchange, ZB.COM. The tokens will go live on May 28 and will be paired against USDT.

The exchange tweeted,

Further, the blog by Bitfinex also stated that the trading of these tokens will be limited to KYC-compliant users in certain jurisdictions only. ZB.COM announced the timings as they tweeted,

“ will open trading for LEO/USDT trading pair at 2019/05/27 14:00 (UTC+8). Users can now start depositing LEO in preparation for trading.”

LEO tokens were the center of speculation when the exchange announced that it will be raising a billion dollars in exchange of the tokens. The issuance of LEO tokens was planned to cover the $850 million currently frozen in several accounts controlled by the payment processing company, Crypto Capital, which is at the heart of a recent court order issued by the New York Attorney General’s office against the firm.

Although the New York Supreme Court has issued an injunction favourable to Bitfinex, the New York AG’s lawsuit has brought forth a lot of information that was not known to the general public.

Tether’s reserves were also questioned during this battle between New York’s AG and Bitfinex. Two important revelations have since gripped the cryptoverse. First, not all of Tether’s reserves were backed by cash reserves and second, Tether had invested some of its reserves in Bitcoin.

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