Bitfinex’s Tether tokenized bond faces investment shortfall
Bitfinex’s newly introduced Tether tokenized bond, initially celebrated as the start of a “new era for capital raises,” has fallen short of attracting the expected level of investment and interest. Bitfinex Securities, a platform specializing in the listing of tokenized real-world assets (RWA), announced the launch of its first tokenized bond, ALT2611, in October, with the new offering made available to the public on Nov. 15. Yet, following a two-week offering period, the official website indicates that only $1.5 million has been raised, falling short of the $10 million target. The target of 100,000 ALT2611 worth 10 million USDT was set for two weeks after launch in the announcement, but it appears to have been extended by another fortnight, with just 15,000 ALT2611, or 15% of the target reached so far. Screenshot from ALT2611 capital raise | Source: Bitfinex The ALT2611 bond is a 36-month bond with a 10% coupon, denominated in USDT. It is issued by Altern...