LEO Token: 264 Bitcoin return to Bitfinex, and what “net proceeds” means for the pledged burn

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.A US government wallet transferred roughly 264.863 Bitcoin from the 2016 Bitfinex hack to Coinbase on October 6. Bitfinex intends to put at least 80 percent of the remaining net proceeds into buying back and destroying LEO, yet the price has barely moved.A US government wallet transferred roughly 264.863 Bitcoin, worth about $22.87 million, to Coinbase on Tuesday. The coins come from the holdings stolen from the crypto exchange Bitfinex in 2016 and secured by US authorities in 2022. For holders of the LEO Token this is no footnote: Bitfinex has committed in writing to spend at least 80 percent of the remaining net proceeds from this very reflow on buying back and destroying its own token. The price has barely reacted. LEO trades at $8.90 and has moved 0.4 percent over seven days. The calm has a cause that has nothing to do with the Bitcoin reflow, and it is the real thing to examine for anyone looking to hold or buy the token in Germany. LEO Token at $8.90: the week in numbers A...