CEO Watch: Revolutionizing Crypto: InfinityBit's On-Chain Proof of Reserves

For the past decade, security and user trust have remained a perennial focal point in
global crypto discourse. As pivotal players in the crypto ecosystem, centralized
exchanges (CEXs) have been scrutinized in the past for their approaches to transparency
and user trust. For example, the crypto exchange FTX collapsed last year due to a
combination of financial mismanagement and concealed vulnerabilities. Sizable system
failures like these highlight the risks associated with opaque processes that have been
considered synonymous with CEXs.

InfinityBit is different. While many CEXs typically utilize data in a reactive manner,
InfinityBit offers users proactive and continuous transparency. Our on-chain proof of
reserves harness the founding principles of blockchain providing immutable
cryptographic evidence that assets are backed 1:1 as they occur.
Equally important to us is user trust. Historically, centralized exchanges have grappled
with issues surrounding accountability and vague disclosures. InfinityBit's on-chain proof
of reserves gives our community the autonomy to independently verify reserves without
the constraints of third-party involvement. This democratization of verification not only
fosters trust but also empowers our users.

The InfinityBit team is passionate about leading an evolution of industry standards that
serves as a barometer of industry progress and maturity. With that I’m happy to
announce we are now in the project’s phase where we’re seeking funding with the goal
of accelerating our beta program and rollout strategies.

The leadership team (Alyssa our CVO, Stefano our CMO, and myself) along with our
talented and relentless global team of engineers, are very much looking forward to the
platform’s launch and are eagerly awaiting the day when we invite all of you to join the
InfinityBit community in setting many new precedents this year.

Stay tuned!

Dixon Bernier, CEO

InfinityBit.io