Tether acknowledges that in January it has repaid the remaining balance of $550,000,000 of the outstanding revolving loan facility owed by Bitfinex. Bitfinex made this payment in fiat currency wired to Tether’s bank account. All interest due on the loan has been paid. The loan has now been repaid early and in full, and the line of credit has been cancelled.
Someone who tried to make some sense out of the repayment stated, Bitfinex and Tether are owned by the same corrupt company, iFinex. Also, for those wondering about repayment, they have stated that they would have just clicked a button and printed that in 5 seconds.
Some of the users pointed to the fact that there is an article that is circulating reports that they have repaid in USD. Users are wondering where the money comes from. Other users are trying to complete the doubt by stating it is all “print”.
An extreme critic stated Bitfinex and Tether are owned by the same corrupt company, iFinex. Also, for those wondering, it has been stated that they clicked a button and printed that in 5 seconds.
Some of them call the repayment as great news. They were however left wondering if Bitfinex have to borrow to repay the loan, because from the financials provided for the LEO token sale it appears that the funds required to repay the loan would have been greater than the free cash available.
Especially considering there was c.$600m of unpaid dividends outstanding, some of them are curious to know if someone can confirm if those dividends have subsequently been paid in cash or if they were actually converted into the Leo Token sale as previously speculated.
Many of them are just curious as to why Bitfinex need so much cash in hurry, obviously the ccc debacle causes a few issues, but there only appeared to be a few million dollars in redemptions queued up. The exchange is a money making machine.
Some of them were stating that the dividends were unpaid so the exchange should have been drowning in working capital liquidity. Further stated, it is to be fully understood if its investment related as the group doesn’t discuss their investments. Any way it is good to see the cash has made its way home.
There are lot more questions and criticisms. Many of them have different opinions about how things could have worked in a different way. No matter what, and who have to state what, the money has been repaid in full.
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