Bitfinex Parent Company iFinex Plans Crypto Derivatives and IEO Platform
iFinex, the parent company of Bitfinex has gone ahead to publicize their plans of the IEO, an initial Exchange Offering that is aiming to raise about $1 billion. The company has also shared some details on their ideas, just to give their investors a sneak peek of what they should expect.
The company is working around the clock
The company has also stated that they have about 25 developers in their team working tirelessly to ensure they deliver nothing but the best, this was published in the white paper on their official website. They also have elaborated on the new ventures that they are getting into.
The company has an employee count of about 100 individuals, and from here the company is planning on having a lineup of projects.
There are more projects to look out for
The iFinex company has several other products that they have other than the Bitfinex platform. Most of these should be launched in June, and they have ensured to have different products that have spread across the crypto space.
At the same time the company is claiming they have been able to make some significant progress with their beta testing initiatives, and with such positive results, you should expect to see about three new lunches popping up very soon.
The individuals within the Bitfinex platform will be able to enjoy the Bitfinex Depravities products; this is if they have an amount that can be hedged and traded with the use of 1:100 leverage. The good thing is that the risk levels for each of the investors will be individualized on the platform. And in the next month we should see the launch.
But this is not all as Bitfinex is also working on the IEO platform. It has been designed to secure access for the qualified investors on the platform to the new token sales. However, the product is only being made available in the jurisdictions that the company has been allowed, thus, the US clients will not have access to the IOE platform.
The financial position of iFinex
The company has been experiencing some finical problems, but they have been able to share some head-spinning information. Looking at the KPI’s for the company between 2017 and 2018 it shows that the company has been able to materialize during the time we all experienced the crypto boom.
The company was able to take in about $750 million in revenues during this period, having the operating cost just a little over $20 million. Therefore, the company was able to gain a net profit of about $730 million and $600 going out to pay dividends to their investors.