"On Oct. 8, INX Digital Company, a crypto exchange that's publicly traded in Canada, will finish being acquired by Republic, another fintech company. The deal is worth up to $60 million and will lead to direct cash payouts for all holders of the INX token. Following the merger, INX will liquidate a $34 million cash reserve fund and distribute the proceeds to INX owners. Holders of the token, which currently trades at about 35 cents, will receive a pro-rated portion of the $34 million."
"In 2018, he was one of several people appointed to INX's advisory board, and an April 2018 SEC filing said that "100,000 INX tokens were granted to Mr. Pete Hegseth." The following year, another SEC filing stated that Hegseth was given the option to buy 100,000 INX tokens for $0.01 each. Public blockchain data shows that a crypto wallet linked to INX distributed tranches of 100,000 tokens to a number of recipients."
INX Digital will be acquired by Republic on Oct. 8 in a deal worth up to $60 million, triggering direct cash payouts for INX token holders. INX will liquidate a $34 million cash reserve fund after the merger and distribute proceeds pro rata to token holders; the INX token currently trades around $0.35. SEC filings show Pete Hegseth received 100,000 INX tokens in 2018 and was granted an option in 2019 to buy 100,000 tokens at $0.01 each. Public blockchain data shows INX-linked wallets received tranches of 100,000 tokens, and some wallets still hold tokens worth about $35,000. Hegseth’s December 2024 financial disclosure lists multiple income sources and a Coinbase wallet with up to $50,000 in Bitcoin.
Read at The Nation
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