According to news on September 4, The Block quoted people familiar with the matter as reporting that the cryptocurrency trading platform Bitfinex holds Bitcoin on its balance sheet. Sources say Bitfinex has historically kept a portion of its trading fee revenue in Bitcoin as a long-term commitment to the world’s first and largest cryptocurrency.
Bitfinex Chief Technology Officer Paolo Ardoino said on social media that cryptocurrency trading platforms that have benefited greatly from Bitcoin should formulate policies to reinvest part of their profits in Bitcoin.
Ardoino said this is what Bitfinex has done by supporting Bitcoin Layer 2 (Lightning Network and Liquid Network) and developing the RGB protocol, which allows for cheaper and more private transactions, making it easier to issue tokens on Bitcoin. Simply put, Bitfinex reinvests in Bitcoin technology, not just buys Bitcoin.
