Dear Bitruers,
The recent mismanagement of user funds at rival exchange FTX has heavily impacted the industry and led to a loss of trust amongst many of us. As one of the world’s leading cryptocurrency exchanges, Bitrue would like to release the following statement:
1. Bitrue has been working closely with our partners to provide our audited proof-of-reserves. A third party will conduct this independent audit to ensure that we have ownership of all said assets. Moving forward, We are committed to doing so annually to ensure that Bitrue can meet the strictest standards for all related responsibilities.
2. Bitrue has always placed customer safety and security at the core of our operational values. We are the first cryptocurrency exchange to establish an insurance fund with XRP- and BTR- denominated funds. More details can be found here.
For the sake of transparency, we have made public the addresses of the insurance fund here: https://bithomp.com/explorer/rNYW2bie6KwUSYhhtcnXWzRy5nLCa1UNCn and https://etherscan.io/address/0xf306f253dc042d88f83a49003a931c45b8e6f184
3. We have always focused on being a one-stop trading platform providing access to a wide suite of crypto products, options, and services. Bitrue has never participated in high-risk fund investments or hedged lending against our tokens. We will not do anything with our users’ assets unless directed by users to do so. All user assets are safe and secure.
4. We do not have any exposure to FTX, FTT or Alameda Research. Bitrue will continue to ensure the safety and security of all our user assets
5. Moving forward, we will be more active and involved in promoting self-regulation in the industry. We are committed to ensuring the highest standards of openness and transparency at Bitrue.
For more information, please visit our website or contact support@bitrue.com.