Bitfinex Pays Out First Wave of Customer Refunds

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On September 1, Bitfinex reimbursed its first wave of clients. 1.1812 percent of currently outstanding BFX tokens were redeemed by Bitfinex and issued to customer wallets.

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Bitfinex Redeems 1.1812% of Outstanding BFX Tokens

BitfinexBitfinex is showing the public that it aims to make its customer’s funds whole again with this first wave of paybacks.

The exchange purchased the tokens at $1 USD per token, roughly double the current market value. The price per BFX has been resting at 50-60 cents and has seen some significant value spikes over the past week.

The Hong Kong exchange’s announcement states:  

We are pleased to announce the redemption of 1.1812% of outstanding BFX tokens.  This redemption was applied pro rata to all wallet balances on September 1, 2016 at 12:00:00 UTC.  The redemption does not apply to margin long or short positions – only on settled wallet balances. The amount of the redemption is based on a calculation of reserves in excess of our required contingent liability reserves, which reflects many factors that unfortunately, we cannot elaborate further upon at this time.  

Simon Dixon<p><br><a href=Read more ... source: TheBitcoinNews

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