Cryptocurrency exchange Bitfinex is storing bitcoins generated from trading fees on its balance sheet as a long-term commitment to the world's largest cryptocurrency.
Paolo Ardoino, CTO of Bitfinex, wrote on his X (Twitter) page that cryptocurrency exchanges that have benefited from bitcoins should adopt a policy of reinvesting a portion of profits in bitcoins.
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Bitfinex supports the Lightning Network and Liquid Network, bitcoin's Layer-2 networks, and is developing the RGB protocol to lower transaction costs, which facilitates token mining, Ardoino said.
"Bitfinex is reinvesting in Bitcoin technology," Ardoino said in his post.
According to The Block, Bitfinex subsidiary and stablecoin issuer Tether is the 11th largest bitcoin holder in the world, holding approximately $1.6 billion worth of BTC.
Issuer Tether released data on its bitcoin reserves in the first quarter of this year, saying that it will continue to invest up to 15% of its profits in the first cryptocurrency.
It is worth noting that a number of companies, such as MicroStrategy, Tesla, and Square, also have bitcoins on their balance sheets.
Read also: The 15,000 ETH transaction on GateIO has caught the attention of the cryptocommunity.
