Bitwellx's former CSO and Tether co-founder Phil Potter talked about the "challenges" that Bitfinex faced in the early days. He pointed out that the main problem that Bitfinex faced in the early days was technology. Operating the “Bitcoin Exchange” is the hardest thing because it is a newly developed market and can operate around the clock. He also said that for an organization that is completely “distributed around the world”, it is crucial to establish a cohesive “development team” at an early stage. Potter also mentioned that it is important for Bitfinex to have a "set of guidelines" in different time zones so that the exchange can always be monitored, which is critical for running platforms that include trading instruments such as margin trading. Potter also added that the security challenge is also very large. "Operating bitcoin exchanges means you will continue to be attacked. Hackers don't necessarily launch attacks as you expect." No matter how high the security of a cryptocurrency, hackers can always find a way to "utilize the system."