LEO (LEO-USD) — Digital Asset Research

What LEO Is (Quick Reference)

LEO (ticker "LEO"; "-USD" is the US-dollar quote currency) is a utility token issued by iFinex, the parent company of the Bitfinex exchange and issuer of the Tether stablecoin. It launched in May 2019 via a private sale that raised roughly $1 billion, after the "Crypto Capital" affair in which ~$850 million in Bitfinex/client funds were seized [DOC-1], [DOC-2]. Its defining feature is a contractual buyback-and-burn: iFinex commits a share of revenue to repurchase and destroy LEO [DOC-4]. It is an exchange token — its value tracks iFinex's business, not an independent network [DOC-1], [DOC-4].