We are pleased to announce that Bitfinex has engaged Friedman LLP to complete a comprehensive balance sheet audit. Friedman, headquartered in New York, has extensive experience working in the cryptocurrency space and we’re excited to be working with them as we take this next step toward cementing customer and shareholder confidence.
Finding a reputable auditor that is crypto-savvy has not been easy. But in the wake of the complete redemption of the outstanding BFX tokens, Friedman saw an opportunity to be part of our recovery story, for which we are both enthusiastic and grateful. We were drawn to Friedman because of their adept partners who hold expertise in the constantly evolving cryptocurrency space. We are confident that Friedman is a great match to meet our accounting needs.
Engaging an auditor is just the first step. The comprehensive balance sheet audit, which will be dated June 30th, 2017, will require considerable time and resources on both sides. A third-party audit is important to all Bitfinex stakeholders, and we’re thrilled that Friedman will be helping us achieve this goal.
In connection with our engagement of Friedman and their expertise in the digital currency industry, we will be undertaking a process to optimize our financial operations and streamline internal accounting procedures as we push toward the goal of having fully audited financials (both balance sheet and operating results) in 2018. Transforming our back office and seeing that change to completion has been and will be a time-consuming and resource-intensive process. We are working diligently on this project and will release summarized results of that audit as soon as it is available.