Bitfinex plans to use the returned coins to redeem all Recovery Right Tokens and devote at least 80 percent of remaining net proceeds to repurchasing and burning its UNUS SED LEO token. The U.S. government moved about $606,000 in bitcoin tied to the 2016 Bitfinex hack to Coinbase Prime, a transfer that may not necessarily signal imminent selling. Federal proceedings require that the seized Bitfinex-related bitcoin be returned in kind to the exchange, rather than sold and sent to the U.S. Treasu…
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