Friedman LLP Audit Will Prove If Bitfinex Is Solvent Or Not

It is due time Bitfinex starts to take action regarding their ongoing issues. A lot of people claim the exchange is insolvent. However, the company states that is not the case. To prove their point, they are now hiring a third party to conduct a financial audit. An intriguing turn of events that should hopefully put rumors to rest.

A Major Audit Of Bitfinex’s Balance Sheet

There have been a lot of questions regarding Bitfinex’s solvency over the past few months. The company redeemed all outstanding BFX tokens in one go. However, this was doing while they knew they could not process USD withdrawals. This development has caused plenty of speculation among cryptocurrency enthusiasts. Moreover, it is slowly turning into a major PR nightmare for the exchange.

It is time something changes, which is why Bitfinex will undergo a complete financial audit. This will be conducted by Friedman LLP. The audit will occur in the coming weeks, with results to be published in June. The company wants to put customers and shareholders at ease by undergoing this audit. Given the number of rumors regarding the company’s potential insolvency, this seems like a smart move.

Friedman LLP

Read more ... source: NewsBTC USA

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