LEO token hit a new all-time high, going above $5.23. It has a market cap of nearly $5 billion.
LEO is a utility token operating on the Bitfinex trading platform and the Ifinex ecosystem. Bitfinex launched the token in May 2019 via Initial Exchange Offering (IEO).
The company raised $1 bln during the sale. At the time, the LEO price was $1. 660 M LEOs were launched on Ethereum, and 340 M tokens on the EOS blockchain.In 2018, Bitfinex lost $850 M as a result of an attack. iFinex is also the founder of the most widely used stablecoin, Tether (USDT).
The parent company of Bitfinex is iFinex. Initially, it was created to replace funds lost during an exploit of the Bitfinex exchange. It also serves to provide opportunities for the users of the platform like discounts and supports the development of the protocol.