It is one of the oldest exchanges, beginning operations as a P2P Bitcoin exchange as far back as 2012. The exchange was registered in the British Virgin Islands, and the owning company in Taiwan.
The exchange is owned by iFinex Inc, which is also the issuer of the most popular stablecoin, Tether (USDT), only trailing Bitcoin and Ethereum in terms of market capitalisation. This signifies the company's high status in the market, but is also a potential risk source due to the connected projects.
It positions itself as an exchange for professionals (there used to be even a minimum deposit of $10,000, which no longer exists). The exchange offers both standard and new services. Currently, the Honey algorithmic orders service is in beta testing.
In 2021, the exchange paid fines totalling $19.5 million due to accusations from the New York Attorney General and the CFTC. The exchange's LEO token can be purchased on the market.
