{"id":383774,"date":"2019-05-26T18:00:29","date_gmt":"2019-05-26T18:00:29","guid":{"rendered":"https:\/\/wncen.com\/?p=383774"},"modified":"2024-06-11T09:52:57","modified_gmt":"2024-06-11T09:52:57","slug":"bitmexs-hayes-bitfinexs-leo-sale-sign-of-returning-bitcoin-bull-market","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitmexs-hayes-bitfinexs-leo-sale-sign-of-returning-bitcoin-bull-market\/","title":{"rendered":"BitMEX’s Hayes: Bitfinex’s LEO Sale Sign Of Returning Bitcoin Bull Market"},"content":{"rendered":"

Weeks ago, Bitcoin<\/a> exchange giant Bitfinex raised $1 billion worth of capital, purportedly denoted in Tether’s USDT, in an in-house initial exchange offering (IEO). The token being sold was Bitfinex’s own, LEO, and became a popular investment opportunity for whales and other industry insiders.<\/p>\n

Since the raise finished, news on the subject matter has quieted. Yet, one industry executive recently came out to say that the success of the raise is of more importance that we may realize.<\/p>\n

Related Reading: Trouble? Bitfinex Posts Record High Net Bitcoin Withdrawals in April 2019<\/a><\/h6>\n

Signs Of Returning Bitcoin Bulls<\/strong><\/h2>\n

In the most recent edition<\/a> of “Crypto Trader Digest”, penned by BitMEX<\/a> chief executive Arthur Hayes, it was suggested that the recent IEO boom is a sign of returning Bitcoin bulls. Hayes explained that with IEOs being the spiritual successors of initial coin offerings, which was a massive catalyst behind 2017’s Bitcoin and Ethereum surge, a surge in activity in this subindustry could “cause speculators to pile back” into this industry.<\/p>\n

The data suggest that IEOs have already seen massive success. As aforementioned, Bitfinex raised $1 billion from a mass of investors, of which many have been purported to be China-based. And Binance has continued to see tens of thousands, maybe more, line up for its IEOs.<\/p>\n

While Hayes went on to acknowledge that this craze is just feeding into the incessant stream of “s**tcoins” and “SICK GAINZ”, he adds that Bitfinex’s raise confirms that the “community is feeling good about itself”. Or as he put it on Twitter a bit earlier, “the bull market is here, buckle-up buckaroos!!”<\/p>\n

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A $1bn IEO raised in less than one month. Bull market is here, buckle-up buckaroos!! https:\/\/t.co\/4DaZ0fNtXe<\/a><\/p>\n

— Arthur Hayes (@CryptoHayes) May 13, 2019<\/a><\/p><\/blockquote>\n