Interview | Description | Timestamps | Show Notes

iTunes | Google | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS Feed

Download Episode MP3 File
The file will open in a new window. Click down arrow to download the file.

Location: Squadcast
Date: Monday 7th September
Company: Bitfinex
Role: CTO

Bitfinex is one of the oldest and largest Bitcoin exchanges. Since 2014, the exchange has had to endure multiple hacks, including at $60 million theft in 2016.

iFinex, the parent company of Bitfinex, also oversees Tether. Tether is the largest stablecoin, regularly facilitating over $50 billion in daily trading volume and is supported by close to 150 exchanges. It too isn't without its controversies, there have been calls to audit Tether to prove that it is fully reserved and there are claims ether printing has been used to manipulate the markets. 

Despite the controversies, the Bitfinex and Tether teams have been instrumental in supporting the growth of Bitcoin.

In this interview, I talk to Paolo Ardoino the CTO of Bitfinex. We discuss how Bitfinex dealt with the exchange hacks, protecting against future attacks, Tether, the Lightning Network and funding Bitcoin projects.

00:04:12: Introductions
00:05:16: Paolo's introduction to Bitcoin
00:08:34: The 2016 Bitfinex hack
00:13:35: Exchange security
00:16:56: BFX tokens
00:19:16: Tether from the start
00:25:37: Unifying Tether for all chains
00:27:49: Tether's overall volume
00:32:57: Dealing with the FUD!
00:36:53: Challenges with operating an exchange
00:38:01: Paolo's passion for coding and Bitcoin
00:42:22: The Lightning Network integration
00:43:47: All about the RGB protocol
00:50:24: Other Bitfinex-funded projects
00:53:41: Final Comments

SUPPORT THE SHOW

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

• Become a Patron and get access to shows early or help contribute

• Make a tip:

  • Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2S

  • QR Codes: Bitcoin

  • If you do send a tip then please email me so that I can say thank you

• Subscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | TuneIn | RSS Feed

• Leave a review on iTunes

• Share the show and episodes with your friends and family

• Subscribe to the newsletter on my website

• Follow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTube

If you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.

SPONSORS

• Connect with Paolo:

  • On Twitter

  • On LinkedIn

  • On Crunchbase

• Mentioned in the interview: 

  • Bitfinex 

  • Bitfinex - Giancarlo Devasini - Chief Financial Officer 

  • Order matching system 

  • $39M of Bitcoin Stolen in 2016 Bitfinex Hack Is on the Move 

  • The Bitfinex Bitcoin Hack: What We Know (And Don't Know) 

  • Up to US$400 Million Reward for Return of Stolen 2016 Bitcoin 

  • Bitfinex hack - BitcoinWiki 

  • Hacks Timeline 

  • Multisignature 

  • Tether | Stable digital cash on the Blockchain 

  • Liberty Reserve 

  • Lightning Network 

  • Liquid Network: Bitcoin Sidechain for Traders & Exchanges 

  • Bitfinex's Lightning Network Node Page 

  • Bitfinex supports the Lightning Network's Wumbo channels - Bitfinex blog

• Other relevant WBD podcasts:

  • WBD263: The World's First Crypto Bank with David Kinitsky & Marco Santori

  • WBD260: How to Protect Your Bitcoin with Nick Neuman & Jameson Lopp

  • WBD244: Coinbase CEO Brian Armstrong on Bitcoin

  • WBD225: Bitcoin is the Answer with Cameron & Tyler Winklevoss

  • WBD129: Nicholas Percoco on Defending the Crypto Honeypot

  • WBD128: Juthica Chou on The First Physically Settled Bitcoin Futures

  • WBD112: Phil Potter on Bitfinex and Tether

  • WBD048: Jesse Powell is Building a Culture of Crypto Values at Kraken