In the wake of much uncertainty in the crypto space, I wanted to share the state of Firo’s team finances. While we did not hold any funds on FTX (beyond a small 1000+ USD transfer that we were converting to USDC), as we hold part of our team funds in FIRO/BTC, there was some exposure to the overall drop in the crypto market.
As a community project, we did not raise money from the public nor did we have any ICO. We are currently completely funded by donations and the block reward we receive (~16,000 FIRO a month). We do not have any loans and our only liabilities are to our team members for work done.
The balances below of course exclude funds in the Firo Community Fund which is administered by the Community Fund Committee that is independent of the Firo core team.
The funds for the audit are already not administered by us as they are with Magic Grants (@sgp) in an FDIC insured bank account.
For those stored off-exchange, I have included explorer links as proof of funds.
Funds controlled by Team
Balances in Core Team Wallet:
18 784.68160832 FIRO
Balances in Bitcoin:
1.02351550 BTC
Balances in BUSD:
28222.10312
Funds held on Exchanges
Balances in TradeOgre to provide liquidity:
2524.74419193 FIRO
Balances in Binance:
12.11322142 BNB
