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Bitfinex reveals proof of reserves in the face of FTX chaos

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Key facts:
  • Bitfinex has published the addresses at which its reserves are located so that they can be verified.

  • Soon the exchange will provide more details about its financial status.

Bitfinex, one of the most important exchanges in the ecosystem, has joined the trend of revealing its reserves to the public after the financial catastrophe caused by FTX.

The proof of reserves consists of. provide Detailed and verifiable data for users and the general public on stocks of a platform or entity. In the case of Bitfinex, it was its chief technology officer, Paolo Ardoino, who revealed the company’s financial status. exchange In the field of reserves.

In a short thread on tweetsArdoino recalled that Bitfinex has 204,338 bitcoins to date, among those with the most BTC, more than 3,000 BTC between Lightning and Liquid, and 1.2 million ether (ETH). At the current price of bitcoin and ether on the exchange market, These figures amount to more than $5 billion.. This is without adding the platform’s holdings in other cryptocurrencies.

In the same thread, Ardoino provided a link to a repository at. GitHub where the addresses of 135 are given wallets corresponding to Bitfinex. Then, simply copy one of these wallets and paste it into a block explorer of the corresponding network to check the amount of cryptocurrency contained..

The Bitfinex executive took the opportunity to announce that he is working to bring back an open source library known as Antani. This would give users the ability to verify their balances cryptographically and privately. Antani would provide proof of solvency, escrow, and off-chain proof of proxy voting data.

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CryptoNews previously reported on the publication of proof of reserves by others. exchanges such as Binance, Coinbase, Kraken, KuCoin, ByBit, Poloniex, OKX, Gate.io, Bitget, and Huobi. It is worth noting that all of these companies emphasized that they do not use their customers’ money to cover business investments or trading positions.

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