Bitfinex “Demonstrates” Proof of Reserves, Affirms “Commitment” to Transparency

Bitfinex, a digital asset trading platform, claims that it has “not been impacted by the latest market events.”

The exchange reportedly “remains liquid, stable and strong, and has no exposure to FTX or its FTT exchange token.”

Over the past week, Bitfinex has “witnessed an increase in trading volumes and has been processing orders, deposits and withdrawals as normal.”

Bitfinex further claims it is also “fully committed to providing transparency on the health of the exchange, and four years ago began working on an in-house opensource library called Antani (, and its web-ui implementation (Ballot to demonstrate exchange-wide proof of reserves. Antani is a #nodejs library for efficiently proving solvency and delegated off-chain voting for crypto exchanges.”

Bitfinex says it is “committed to continue to develop and implement the Ballot solution in order to provide periodic proof of reserves.”

The Bitfinex whitepaper “on Proof of Solvency, Custody and Off-Chain delegated proof of vote is available here.

As noted in the update;

*All users of are subject to Bitfinex’s terms of service (TOS). Please note that U.S. persons (as defined in the TOS), among other prohibited persons (as defined in the TOS), are strictly prohibited from directly or indirectly holding, owning or operating an Account (as defined in the TOS) on”

Founded in 2012, Bitfinex is “a digital asset trading platform offering state-of-the-art services for digital currency traders and global liquidity providers.”

In addition to a suite of advanced trading features and charting tools, Bitfinex “provides access to peer-to-peer financing, an OTC market, and financed trading for a wide selection of digital assets.”

Bitfinex’s strategy “focuses on providing unparalleled support, tools, and innovation for professional traders and liquidity providers around the world. Visit to learn more.”

In other related news, it has been noted that given the current discussion regarding solvency, the team at Kraken wanted to explain the systems they have in place “to ensure that assets on [their] exchange are readily available to you at any time and especially during times of uncertainty.”

First, it is important to note that Kraken claims it “has no exposure to Alameda Research and [they] hold about 9,000 FTT tokens on the FTX exchange.” Kraken adds that they “have not listed the FTT token on [their] spot or futures exchanges and Kraken is not affected by the recent FTX news in any material way.”

Kraken’s co-founder and outgoing CEO Jesse Powell has now commented on the situation.

Kraken also noted that they are “proud to say that Kraken has long taken the lead when it comes to transparency.” In fact, they claim to have “pioneered the use of regular asset audits in 2014 and hired a top-25 global accounting firm, Armanino LLP, to produce two Proof of Reserve audits over the past year alone.” These cryptographic audits “are more precise and immutable than any other form of financial statement and we are one of the first exchanges to perform them regularly.”

Proof of Reserve audits “cryptographically prove that we hold the assets we say we hold on your behalf.”

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