Odaily News Bitfinex’s parent company iFinex plans to conduct a $150 million share buyback to better control the private company’s business. iFinex has sent a letter to shareholders proposing to repurchase 15 million shares at a price of $10 per share. This transaction will account for 9% of iFinex’s uncirculated share capital and will value the company at US$1.7 billion. Implementing the proposal would require an infusion of capital from at least one subsidiary. The buyback arrangement was made available to shareholders who exchanged shares with investment platform BnkToTheFuture in 2016. In 2016, Bitfinex suffered a hacker attack and lost approximately $71 million in Bitcoin (currently worth $3.3 billion). In order to fully compensate for the losses, Bitfinex provided BFX tokens and allowed users to redeem them through BnkToTheFuture to become shareholders of the company. (Bloomberg)