The Bitfinex IEO, how did we get here?

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Bitfinex is looking to raise $1 billion through an Initial Exchange Offering (IEO), confirming rumors going around the internet last week. Excerpts from the white paper indicate that the IEO is meant to cover the inaccessible $850 million tied up with its former payment processor and shadowbank Crypto Capital. What follows is a timeline reconstruction of how we got here.

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