Appleby acted as BVI legal advisers to iFinex on the private
token sale of LEO tokens, which commenced on 8 May 2019.
iFinex's Chief Technology Officer, Paolo Ardoino, took to
Twitter to announce that the sale had raised approximately USD 1
billion in 10 days. The sale of LEO tokens was made privately to
select purchasers who met the qualifications set out in the
purchase documentation.
iFinex began operations in 2012 and, among other cryptocurrency
and cryptoasset-related products and services, operates Bitfinex,
one of the world's largest virtual currency trading platforms.
The LEO tokens were issued by a newly formed BVI subsidiary of
iFinex, Unus Sed Leo Limited, and are intended to be utility tokens
at the heart of the iFinex ecosystem.
