expert reviewed cryptocurrency Unus Sed Leo logo

Unus Sed Leo

Leo is the exchange token of Bitfinex. Bitfinex raised $1 billion with the Leo token sale to cover an $850 million shortfall in funds. Leo tokens can be used to pay for fees on Bitfinex's exchange.

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Reviews for Unus Sed Leo

🔑 2 positive | 💩 2 negative


Exchange tokens BNB [and] LEO have a historical precedent in the form of Membership Seats of futures exchanges. These seats give the holder the right to trade on the exchange at discounted fees.

Nymex (where oil is traded) seats went from $10k to $10mill (1000x) from 1971 to 2008.

Su Zhu, Founder and CEO of Three Arrows Capital

2019-06-07 | Full Review


LEO is like a not terrible version of BNB but they're both very distant from resembling equity, or really any credible claim on cash flow

Nic Carter, Partner at Castle Island Ventures and Co-creator of Coinmetrics

2019-06-16 | Full Review


I think of LEO as kind of an option "strangle." As a holder, the steady state expectation is ongoing price rise from supply reduction. Owners are short a downside put of regulatory risk or bankruptcy and own an upside call of the ~$800m seized funds being returned.

Ari Paul, Co-founder and CIO of BlockTower Capital

2019-09-03 | Full Review


$LEO is a USD denominated corporate bond, with frequent lump sum buy backs. When it's repaid it will hit parity. Expecting LEO to moon is like the joke about expecting USDT to moon. The price relates to interest rate vs market and risk perception (plus interim exchange discounts)

2019-09-03 | Full Review