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Seems like it... this can't possibly be legal, right? Surely the company should be forced to liquidate to make customers whole again, or issue debt/equity to ge
by 467568985476 10y ago
Seems like it... this can't possibly be legal, right? Surely the company should be forced to liquidate to make customers whole again, or issue debt/equity to get the money. I'd love to read a take on this from someone with a better understanding of the regulatory environment Bitfinex is subject to.
- imaginenore 10y agoBut it might be in the interest of the customers. If Bitfinex can keep functioning (a big "if"), they will eventually make that $80M that got stolen. Bitcoin exchanges generally are quite profitable enterprises, so I would say it's theoretically possible.
- tedunangst 10y agoIn a way, it sounds like they are issuing debt, the BFX token. The people "buying" the debt just don't have much say in the matter.
- Animats 10y agoFrom a CFTC action: "BFXNA Inc. d/b/a Bitfinex is a corporation formed and existing under the laws of the British Virgin Islands, and has its principal place of business at suite 13/F, 1308 Bank of America Tower, 12 Harcourt Road, Central, Hong Kong, China."