CTO of Bitfinex reveals reserve proof amidst FTX bankruptcy drama.
This year’s collapse of prominent cryptocurrency ecosystems like FTX and Terra (LUNA) has highlighted the need for openness regarding the actual reserves of cryptocurrency exchanges and businesses. Bitfinex, a cryptocurrency exchange, recently made public its proof of reserves amidst widespread uncertainty and skepticism (FUD) in the industry.
Binance, OKEx, Kucoin, and Crypto.com are just some of the major cryptocurrency exchanges that have promised to publish their proof of reserve in recent days in an effort to restore faith among investors. Bitfinex’s Chief Technology Officer Paolo Ardoino walked the walk by releasing an updated list of the exchange’s primary wallets on November 11. Bitfinex’s reserve proof GitHub repository. The original code can be found on GitHub. Antani, Bitfinex’s open-source library, has some lofty aims for the future.
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Disclaimer: This isn’t financial advice; it’s just for education. Crypted Crypto can’t guarantee its accuracy. Every investment and trade carries some risk, so always do your own research. Invest only what you can afford to lose.
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