The Toronto-based crypto-buying platform launched a dashboard Tuesday tracking key data points like weekly trading volumes, a record of all the crypto Bitbuy holds on its customers’ behalf, financial statements and an annual “proof of reserve” document to certify its holdings. (The Logic)
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The Toronto-based crypto-buying platform launched a dashboard Tuesday tracking key data points like weekly trading volumes, a record of all the crypto Bitbuy holds on its customers’ behalf, financial statements and an annual “proof of reserve” document to certify its holdings. (The Logic)
Talking point: The company said the dashboard, which Bitbuy shared with The Logic ahead of its official launch tomorrow, is part of its push for transparency after the dramatic implosion of crypto exchange FTX last month drew widespread scrutiny and calls for tougher regulation. Bitbuy, a unit of Vancouver-based WonderFi, which also owns crypto-trading platforms Uniifi and Coinberry, has claimed it had no material exposure to the FTX fallout, but said it created the dashboard to address broader doubts about the sector. “Recent events on unregistered crypto exchanges have emphasized the need to provide transparency and security, which is why we launched the Bitbuy Trust Centre,” WonderFi interim CEO Dean Skurka said in a statement.
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