The recent fall of most of the major crypto ecosystems- which includes Terra and FTX- does highlight the importance of transparency that has been making the rounds of most of the true reserves that have been held through crypto exchanges and businesses.
Amidst this ongoing fear, one could also talk about the doubt and uncertainty that has been traveling through the crypto space- something Bitfinex- a crypto exchange revealed through its proof of reserves to the public. Over the last few weeks, several major crypto exchanges like OKX, Binance, Crypto.com, and Kucoin have been committed to sharing their proof of reserve to gain some form of investor confidence. This led the chief technology officer of this particular exchange, Paolo Ardoino, to share the list of the main wallets of this crypto exchange, which was last updated on the 11th of November.
The CTO Of Bitfinex Has Shared Proof of Reserves
Ardoino went ahead and shared the proof of reserves of Bitfinex on GitHub, where he also listed a total of 135 hot and cold wallet addresses. Rather than force the users to go through all of the addresses, he further listed some of the major holdings of this company- which involves Bitcoin and Ethereum as the top holders.
Bitfinex had also been involved in the development of an open-source library called Antani back in June 2018. This open-source library was aimed strictly at providing some form of proof of solvency, custody, and even off-chain delegated proof of vote. While this had been overlooked in the past previously, the CTO also confirmed the plans of the company to revive the system that would allow the users to start verifying their balances without compromising the privacy involved.