coin-img-PIPPINPIPPIN+0.70%coin-img-ESPESP-3.67%coin-img-ETHETH+10.87%coin-img-BTCBTC+6.38%coin-img-SOLSOL+12.72%coin-img-XRPXRP+7.35%coin-img-USDCUSDC-0.02%coin-img-DOGEDOGE+11.53%coin-img-PIPPINPIPPIN+0.70%coin-img-ESPESP-3.67%coin-img-ETHETH+10.87%coin-img-BTCBTC+6.38%coin-img-SOLSOL+12.72%coin-img-XRPXRP+7.35%coin-img-USDCUSDC-0.02%coin-img-DOGEDOGE+11.53%coin-img-PIPPINPIPPIN+0.70%coin-img-ESPESP-3.67%coin-img-ETHETH+10.87%coin-img-BTCBTC+6.38%coin-img-SOLSOL+12.72%coin-img-XRPXRP+7.35%coin-img-USDCUSDC-0.02%coin-img-DOGEDOGE+11.53%coin-img-PIPPINPIPPIN+0.70%coin-img-ESPESP-3.67%coin-img-ETHETH+10.87%coin-img-BTCBTC+6.38%coin-img-SOLSOL+12.72%coin-img-XRPXRP+7.35%coin-img-USDCUSDC-0.02%coin-img-DOGEDOGE+11.53%

Bitfinex LEO Token Trades at 60% Premium Amid 2016 Hack Bitcoin Case Uncertainty

Bitfinex's LEO token is trading at roughly a 60% premium to its implied fair value, which may reflect market expectations around the final treatment of bitcoins seized after the exchange's 2016 hack, K33 Research Director Vetle Lunde said, ChainCatcher reports citing The Block. Around 94,636 bitcoins tied to the incident remain frozen, representing about 30% of the U.S. strategic bitcoin reserve, and are currently involved in court proceedings to determine victim compensation. Under Bitfinex's 2019 pledge, 80% of any recovered assets would be used to buy back and burn LEO tokens. The analysis indicated that if a court were to return the bitcoins to victims instead of having them confiscated by the government, roughly 75,000 bitcoins could be sold into the market over about 18 months, averaging around 139 BTC per day.
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