UNUS SED LEO

LEO is the exchange token of Bitfinex: 919.86M coins circulate. No new LEO is created, and Bitfinex buys coins back with part of its revenue.

Sell pressure. Nothing is minted and nothing vests. Bitfinex wallets hold most of the supply, but those coins already count as circulating, so new supply is zero.

Buy pressure. The buyback took 355,203 LEO out of supply in 90 days. Moves paused on Sep 1 2026 with 236,909 bought and waiting; we expect about 622,900 next.

Net. Net, supply shrinks about 0.04%, and about 0.07% next.

Inflation

Last 90 Days

-0.04%

checked · Oct 12 2026

Net flow: 0.04% of supply stays in the market (roughly neutral) over 90 days

Next 90 Days

-0.07%

estimate

Net flow: 0.07% of supply taken off the market next 90 days

Mixed flows · supply roughly steady

Sell pressure

1. Protocol inflation

LEO pays no block rewards and has no staking pay, so nothing creates new coins on a schedule. Both versions read the same at both ends of the window: 660M LEO on Ethereum and 307.65M on Vaulta. Bitfinex still holds the keys that could create more (692M of room is left under the Vaulta cap), but it has not used them.

checked · Oct 12 2026

2. Vesting unlocks

All LEO was sold at once in the May 2019 private sale with no lock-up, so there is no team or investor vesting left to release.

checked · Oct 12 2026

3. Foundation + unscheduled unlocks

Bitfinex-linked wallets hold most of the supply: 648M LEO in one Ethereum contract (unmoved since 2023), 257.79M in a Vaulta cold account and 2.06M in the account that sends coins to be retired. All of it is already counted as circulating, so a move from them adds no new supply. Outside the float, the issuer account holds 47.80M bought-back LEO that Bitfinex could still move back out.

checked · Oct 12 2026

4. Long-term locked or bankruptcy

No bankruptcy estate, trustee or long lock holds LEO. The bitcoin stolen in the 2016 Bitfinex hack is a separate matter: if Bitfinex gets it back, the money buys LEO, it does not release any.

checked · Oct 12 2026

Buy pressure

1. Programmatic buyback

~355.2K LEO

Bitfinex spends at least 27% of its monthly revenue buying LEO and sends it to the token's own issuer account, which is no longer counted as supply. 355,203 LEO went there in 50 moves, one a day, the last on Sep 1 2026. Since then buying went on, but the coins wait at Bitfinex: 236,909 LEO by Oct 12 2026. Two earlier pauses ended in one big catch-up move, so the next 90 days use 90 days of buying at today's price: about 622,900 LEO.

checked · Oct 12 2026

2. Protocol fee burn

LEO runs on other chains and pays no gas, so no fee is destroyed. Any LEO Bitfinex takes as fees can go into the buyback above, so it is not counted twice.

checked · Oct 12 2026

3. Foundation buy

Bitfinex has promised at least 80% of the net money it recovers from the 2016 hack to buy back LEO within 18 months. US officials moved about 264.8 BTC to an exchange under the court-ordered return on Oct 6 2026, but nothing shows Bitfinex has received any of it, so there is no date and no amount yet.

checked · Oct 12 2026

4. New long-term lock

There is no LEO staking and no new lock contract, so nothing is taken out of the float by locking.

checked · Oct 12 2026

Supply check · sell, buy & net

Last 90D

Next 90D

Sell total (M LEO)

0.000

Buy total (M LEO)

0.355

0.623

Sell % of circ

0.000%

Buy % of circ

+0.039%

+0.068%

Net inflation %

-0.039%

-0.068%

Circulating supply: 919.858M LEO

Read the full Inflation Analysis

LEO: no new coins, and a slow buyback takes a few out.

Long-form mechanism walk. ~5 min.

Metric 2 of 3

LEO · Coin Demand

Two sides: how much people want LEO right now, and how much buying could come later.

0.5 / 5Very low

Current demand0 / 2.5

This part is based on social media. It shows how hot LEO is right now. A better rank means more people are talking about it.

LEO on social mediaIts rank among the 110 coins we follow · last 12 months · #1 = most talked about

#105 · Oct 12 2026

Today, people are talking about LEO for one reason:

1
The US moved 264 BTC from the 2016 Bitfinex hack back toward Bitfinex.
On Oct 6 2026 the US government moved about 264 BTC, worth about $23 million, from the 2016 Bitfinex hack to Coinbase, as part of a court order to return the coins to Bitfinex. Bitfinex has said at least 80% of the money left after paying hack victims will go to buying and burning LEO. People ask when that buyback will start and how much LEO it can remove.

Checked Oct 13 2026

Metric 3 of 3

LEO · Price DriversBeta

The few things that can move LEO's price that supply and demand miss.

1 · Hack BTC return

New

BTC back, LEO burned → price upnowReturn stalls → price down

Aug 2 2016Hack: 119,754 BTC
Feb 8 2022US seizes ~94.6k BTC
Jan 14 2025US: return BTC in kind
Apr 17 2026US moves ~8 BTC
Oct 6 2026264.9 BTC to Coinbase
Oct 8 2026US moves 12,267 BTC
Today
No date yetRest of the BTC back
548 days afterBurn 80% within 548 days

US moved 12,267 seized BTC on Oct 8; no return confirmed

Data

Date	What happened / what is coming
Aug 2 2016	Hack: 119,754 BTC
Feb 8 2022	US seizes ~94.6k BTC
Jan 14 2025	US: return BTC in kind
Apr 17 2026	US moves ~8 BTC
Oct 6 2026	264.9 BTC to Coinbase
Oct 8 2026	US moves 12,267 BTC
No date yet	Rest of the BTC back (coming)
548 days after	Burn 80% within 548 days (coming)

Checked Oct 12 2026

2 · Seized BTC pile

New

US sends BTC back → price upnowPile stays frozen → price down

Sent to CoinbaseMoved, use unclearStill in US wallets

Oct 12 2026

13%

87%

13% of the seized BTC moved; Bitfinex has not confirmed receipt

Data

When	Who holds what
Oct 12 2026	Sent to Coinbase 0.3% · Moved, use unclear 13% · Still in US wallets 86.7%

Checked Oct 12 2026

Should you buy LEO? Questions about LEO

Is UNUS SED LEO worth buying now?

By the law of supply and demand, UNUS SED LEO's long-run signal is mixed (Oct 17 2026, score 5.5/10). New supply: −0.07% in the next 90 days. Demand: very low (0.5/5). UNUS SED LEO's price drivers: 2 ▲ price up, 0 ▼ price down.

Is Bitfinex getting its hacked Bitcoin back for LEO yet?

Not confirmed yet. The US moved 12,267 seized BTC on Oct 8 2026, about 13% of the pile, but Bitfinex has not said it received any. We read the move as a good sign for LEO, though there is still no date for the rest. Supply and demand still read mixed for UNUS SED LEO in the long run.

Should I sell UNUS SED LEO or hold?

UNUS SED LEO's signal is mixed for now. UNUS SED LEO's signal would turn if new supply jumps (today −0.07% in 90 days), or demand falls from very low. The next date on UNUS SED LEO's calendar: No date yet — Rest of the BTC back.

Is UNUS SED LEO worth investing in for the long term?

UNUS SED LEO sits at 5.5/10 today (Oct 17 2026): supply 5/5, demand 0.5/5. One more year adds −0.27% to UNUS SED LEO's supply. Long-run signal: mixed.

When is a good time to buy UNUS SED LEO?

By the law of supply and demand, the better time to add UNUS SED LEO is when its new supply is low, demand is high and its price drivers point up. UNUS SED LEO today: −0.07% new supply in 90 days (shrinking), demand very low (0.5/5), drivers 2 ▲ / 0 ▼.

What could push UNUS SED LEO's price up or down?

Right now 2 things drive UNUS SED LEO's price (2 ▲, 0 ▼). ▲ Hack BTC return: US moved 12,267 seized BTC on Oct 8; no return confirmed ▲ Seized BTC pile: 13% of the seized BTC moved; Bitfinex has not confirmed receipt

Is UNUS SED LEO a better investment than Bitcoin?

Side by side on Oct 17 2026: UNUS SED LEO at 5.5/10 with a mixed signal, Bitcoin at 8.5/10 with a positive signal. By supply and demand, UNUS SED LEO is the weaker of the two.

Every answer here applies basic economic theory — the law of supply and demand — to this coin's data. It is not financial advice. How we read every coin →

How does MrNasdog judge every coin, and why is -0.07% shown in green?

We look at two things, half each: supply and demand. Fewer new coins mean less selling pressure. A meme coin scores 1.5 at most on supply: its team got its coins for free, so no new supply does not make it safe. We also show each coin's age, with a warning when it is younger than 1 year. Demand looks at how much people want the coin now and how much buying could come later. Price Drivers (Beta) are the 2 or 3 things that can move one coin's price that supply and demand miss; they have no score. LEO supply is not growing (-0.07% in the next 90 days), so it shows in green. Zero or falling supply is always green, any growth is red.

What do Watch LEO alerts cover?

One email before each big supply event, and the day our verdict changes. Nothing else. You can watch 2 coins for free.

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