The LEO price is up following the US government’s claims that the Bitfinex exchange is the sole entity eligible for compensation for the Bitcoin hack on the exchange in 2016. This has provided a boost for LEO, considering its role as the utility token in the crypto exchange’s ecosystem.
LEO Price Surges Amid Potential Bitcoin Recovery For Bitfinex
LEO price surged to a monthly high of $6.50 following a US government filing suggesting that Bitfinex may soon recover part of the Bitcoin it lost in the 2016 hack. The government mentioned in court documents that it is not aware of any person who qualifies as a victim under the Crime Victims’ Rights Act or the Mandatory Victims Restitution Act (MVRA) besides the crypto exchange.
This filing was in the US government’s case against Ilya Lichtenstein, who they arrested for allegedly laundering the stolen bitcoins from the Bitfinex hack. Following his arrest in 2022, the government seized 94,643 BTC from Lichtenstein. Therefore, following the recent filing, the crypto exchange might be able to reclaim some of these bitcoins, which are currently worth around $5.8 billion.
This won’t be the first time the crypto exchange will receive recovered funds from the US authorities. In 2023, the exchange announced it received $312,219.71 in cash and 6.917 BCH from the United States Department of Homeland Security (DHS) as part of the recovery efforts.
Meanwhile, there will no doubt be concerns about what the crypto exchange will do if it reclaims these bitcoins from the US government and how this could affect the BTC price. The exchange will likely use these funds to redeem the Recovery Right Tokens (RRTs) issued following the 2016 security breach.
US Government Could Soon Sell 69,370 BTC Following Court Order
The LEO price surge and Bitfinex’s potential Bitcoin recovery come amid the development that the US government could soon sell 69,370 BTC following the Supreme Court’s rejection of the certiorari petition in the Battle Born Investments case against the United States. This move could significantly impact the Bitcoin price, considering the amount of BTC tokens.
However, as CoinGape reported, there is the possibility that individuals like MicroStrategy chairman Michael Saylor could buy the 69,370 BTC if the US government decides to sell them. However, for now, it looks unlikely that the government will sell these coins as some processes are still involved before the US Marshals or any other agency.
Meanwhile, it could take a while before Bitfinex may be able to reclaim the bitcoins that the US government seized from Ilya Lichtenstein. However, the US government recognizing the crypto exchange as eligible for compensation is undoubtedly a step in the right direction.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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The meme market has gathered billions in capital over the last two years. Dogecoin (DOGE) was the pioneer in this category, and many meme tokens followed its path, but no one could reach its level. However, Dogeliens (DOGET) arrives as an updated version of DOGE with its user-friendly website and, above all, limited token supply.
As the market has again started crashing, thanks to the rising inflation and fluctuations in global economic policies, it’s time to look out for some potential cryptocurrencies instead of going all in on coins like UNUS SED LEO (LEO) and others. Let’s dive in and see what these three coins are and how Dogeliens captures your attention with its lucrative bonus rewards in the end.
Dogecoin (DOGE) – Where The Memes Began
Dogecoin (DOGE) is the most popular meme token based on the “Doge” theme across the Internet. However, the token was created as a means of payment in 2013. Elon Musk endorsed it through his several tweets and announcement to use it as a payment method on his Tesla Merch website.
Dogecoin (DOGE) uses Scrypt technology instead of a PoW (Proof of Work) or PoS (Proof of Stake) consensus. One can mine Dogecoin (DOGE) using any computer or with a GPU. DOGE does not have a defined maximum supply.
Thus, its total supply equals the number of tokens circulating in the market. Dogecoin (DOGE) caught hype in 2021 and set its new ATH (all-time high) at $0.7376, according to CoinMarketCap.
How is UNUS SED LEO (LEO) Doing?
UNUS SED LEO (LEO) is a token created by the iFinex company to be used as a primary cryptocurrency on its Bitfinex exchange. It was launched in 2019 to allow users to save money on transaction fees using LEO on the Bitfinex platform. CoinMarketCap says LEO touched its latest all-time high on Feb 08, 2022, at $8.04.
Right now, the token’s price is crippling due to the declining capital and fear in the crypto market. The LEO token’s price mainly depends on the trading activity on the Bitfinex platform. As fear prevails in the market, trading volume has decreased, causing prices of such utility tokens to depreciate.
What is Dogeliens (DOGET)?
Dogeliens (DOGET) is an upcoming meme token similar to Dogecoin (DOGE). The token came out with a motive to increase the adoption of cryptocurrencies and to provide fun and entertainment to users through games and Metaverse technology. Dogeliens (DOGET) has a fixed token supply of 25,000,000,000 (25 billion) DOGET tokens, with a price lower than Dogecoin (DOGE).
DOGET Presale – How to buy?
The Dogeliens (DOGET) token is in its second presale stage right now, which will end on Oct 01, 2022. If you want to grab the tokens before that, follow these steps:
- Install a crypto wallet. If you don’t have an account, you can create one on Trust Wallet, MetaMask, or BSC, as these are the most popular ones.
- Get some funds in the wallet in any of the cryptocurrencies available on the presale website.
- Now sign up on the presale website and set your funding amount and favorite crypto pair.
- Deposit your funds to the wallet address shown in the pop-up, and you’re all done!
Final Thoughts
It’s time to jump into newly rising cryptocurrencies instead of buying the same old tokens over and over. Dogeliens could be a good replacement for Dogecoin (DOGE) with its amazing utilities and features detailed on the website. The team will complete the project in six phases according to its roadmap.
Each transaction will cost a 10% tax, from which 3% will go to charity. Dogeliens (DOGET) offers amazing bonuses for its early birds. As a sneak peek, if you purchase it today using USDT (TRC-20), you will get 18% extra DOGET tokens as a bonus. Moreover, catching it in the second presale phase will give you 8% additional DOGET tokens, which reduces to 6% in the third phase.
To learn more about Dogeliens (DOGET), you can visit the following links:
Presale: https://ufo.dogeliens.io
Website: http://dogeliens.io/
Telegram: https://t.me/DogeliensOfficial
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