{"id":35944,"date":"2021-02-05T20:06:10","date_gmt":"2021-02-05T18:06:10","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=35944"},"modified":"2025-08-29T03:49:23","modified_gmt":"2025-08-29T00:49:23","slug":"bitfinex-repaid-a-750-million-loan-taken-from-tether","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitfinex-repaid-a-750-million-loan-taken-from-tether\/","title":{"rendered":"Bitfinex repaid a $750 million loan taken from Tether"},"content":{"rendered":"<p>The cryptocurrency exchange Bitfinex said it had repaid early a loan previously taken from its affiliated company Tether. The remaining balance of $550 million was transferred by the platform in January.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p dir=\"ltr\" lang=\"en\">Bitfinex announces loan repayment to Tether \u2b07\ufe0f<a href=\"https:\/\/t.co\/nGOBl3vYWA\">https:\/\/t.co\/nGOBl3vYWA<\/a><\/p>\n<p>\u2014 Bitfinex (@bitfinex) <a href=\"https:\/\/twitter.com\/bitfinex\/status\/1357722957309747200?ref_src=twsrc%5Etfw\">February 5, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to the statement, Bitfinex made the payment in fiat currency to Tether&#8217;s bank account.<\/p>\n<blockquote>\n<p>\u201cAll interest due on the loan has been paid. The loan is now repaid early and in full, and the credit line has been cancelled,\u201d the statement stressed.<\/p>\n<\/blockquote>\n<p>The exchange borrowed $750 million under a credit line opened for it by Tether in 2018, according to an interview with <a href=\"https:\/\/www.theblockcrypto.com\/post\/93905\/bitfinex-repays-tether-remaining-loan-balance-550-million\" target=\"_blank\" rel=\"noopener noreferrer\">The Block<\/a> by Bitfinex&#8217;s chief of legal Stuart Hogner.<\/p>\n<p>He said it was driven by a \u201cshort-term need for funds,\u201d and Tether&#8217;s terms were \u201creasonable.\u201d<\/p>\n<p>Bitfinex paid $100 million of USDT to the issuer twice toward repaying the principal \u2014 in July 2019 and February 2020.<\/p>\n<p>Hogner noted that the exchange&#8217;s financial performance enabled a full and early repayment. The loan&#8217;s repayment term expired on November 5, 2021.<\/p>\n<p>In 2019, Bitfinex raised $1 billion in a private placement of native LEO tokens.<\/p>\n<p>Subscribe to Forklog&#8217;s channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency exchange Bitfinex said it had repaid early a loan taken previously from its affiliated company Tether. The remaining balance of $550 million was transferred by the platform in January.<\/p>\n","protected":false},"author":1,"featured_media":35945,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[95,1245],"class_list":["post-35944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitfinex","tag-tether-usdt"],"aioseo_notices":[],"amp_enabled":true,"views":"34","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=35944"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35944\/revisions"}],"predecessor-version":[{"id":35946,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35944\/revisions\/35946"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/35945"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=35944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=35944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=35944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}