Hong Kong-based iFinex Inc., the parent company of cryptocurrency exchange Bitfinex, has proposed a $150 million share buyback in an effort to consolidate its private operations amidst increasing regulatory oversight in the cryptocurrency industry. The buyback offer, which remains open until October 24, aims to repurchase 15 million shares at $10 each, representing approximately 9% of iFinex’s total outstanding capital and valuing the company at around $1.7 billion. The proposal is contingent upon iFinex receiving a significant cash inflow from one or more of its subsidiary businesses. This move comes as both Bitfinex and its associated stablecoin issuer Tether have faced regulatory challenges in the past, including a $42.5 million fine imposed by U.S. regulators in 2021. The crypto industry is increasingly under scrutiny from international watchdogs, leading major players like Bitfinex to adapt their strategies to navigate the changing regulatory landscape.

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Information	Details
Geography	Asia
Countries	🇭🇰
Sentiment	neutral
Relevance Score	0
People	Giancarlo Devasini
Companies	Bitfinex, iFinex Inc., Tether Holdings Ltd., BnkToTheFuture, Bitfinex Group
Currencies	Bitcoin, Tether
Securities	None