Bitfinex owner offers to buy back shares worth $150 million: Bloomberg

Hong Kong-based iFinex, owner of the crypto exchange Bitfinex, has offered to repurchase $150 million worth of shares as it seeks to shore up its control over the company, according to Bloomberg.

The firm, which values itself at $1.7 billion, contacted shareholders late last month, the report said, with Bloomberg citing a document it had seen. The offer was to buy back 15 million shares at $10 a piece, it also said. That represents about 9% of iFinex outstanding capital.

The “buyback is the result of ‘positive performance’ by the company over the last few years,” according to a statement from iFinex that was cited by Bloomberg.

iFinex did not immediately respond to a request for comment from The Block.

Bitfinex suffered a hack that caused it to lose $71 million in bitcoin in 2016. In August, a New York couple pleaded guilty to money laundering conspiracy in connection with the hacking of Bitfinex.

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