The collapse of top-tier crypto ecosystems – like FTX and Terra – in 2022 underscored how crucial transparency is around the true reserves held by crypto exchanges and establishments. 

During the ongoing fear, uncertainty and doubt (FUD) throughout the crypto sphere, crypto exchange Bitfinex reportedly disclosed details of its proof of reserves to the general audience.

Throughout the last couple of days, high-profile crypto exchanges, including Binance, OKX, Kucoin and Crypto.com, reportedly pledged to share their proof of reserve to regain investor confidence. 

In a bid to keep true to their words, Bitfinex chief technology officer Paolo Ardoino reportedly disclosed details of the list of the main Bitfinex wallets, last updated on November 11.

Ardoino reportedly revealed Bitfinex’s proof of reserves via GitHub, wherein he listed an overall figure of 135 cold and hot wallet addresses. Removing the burden of combing through the addresses for users, he listed down a few of the firm’s major holdings, which included 204338.17967717 Bitcoin and 1225600 Ether among top holders. 

Bitfinex reportedly created an open-source library with the name “Antani back” in June four years ago, to work towards the target of offering transparency associated with proof of solvency, custody and off-chain delegated proof of vote. 

While overlooked in the past, Ardoino confirmed Bitfinex’s plans to revive the system that would allow users to verify their balances without compromising privacy.

Antani’s white paper also hinted that users will have the freedom to carry out verification for their balances in a cryptographical manner, making it possible for Bitfinex users to confirm the existence of their funds and eliminate depegging risks.

While the revelation saw a warm welcome from the community, members pointed out that the data is incomplete as the information excludes Bitfinex’s liability figures.