This free preview of The Block Genesis is offered to our loyal readers as a representation of the highly valuable journalism our Genesis members receive daily. If you’d like to receive all Genesis content on our site and via daily newsletter, join today.
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.