• Bitget will publish verifiable data from December 2022.
  • A recent reserve proof shows that USDC has a reserve ratio of 2604%.
  • The exchange’s reserve ratio has consistently exceeded 200% for the past seven months.

Coinjonal can exclusively reveal that Bitget, a leading platform for copy trading and crypto derivatives, has announced its monthly Proof of Reserves (PoR) at 223%, more than double the industry average of 100%. It demonstrated an unparalleled total reserve ratio.

Proof of reserves demonstrates Bitget’s commitment to radical transparency. The exchange has been publishing verifiable data since December 2022 with the aim of building trust and creating new standards for the sector.

USDC and BTC Top Bitget’s Reserve Asset List

According to the reserve proof, the reserve ratio is 454% for Bitcoin (BTC), 135% for Tether (USDT), 171% for Ethereum (ETH) and 2604% for USD Coin (USDC).

On July 11th, Coinmarketcap data showed that 31 well-known digital assets had over $1.44 billion in reserves. With the reserve ratio consistently above 200% over the past seven months, Bitget’s comprehensive report demonstrates our unwavering commitment to transparency. His addition of USDC reserves in March 2023 has made the Bitget fund’s situation even more transparent.

Bitget ensures that all assets belonging to users are retained as retainage by regularly publishing Merkle Tree Proofs, Platform Retainage Funds, and Platform Retention Rates.

Increased transparency for Bitget users

The exchange recently introduced a new tool, the Merkle Validator, that allows users to conduct a self-audit on their accounts in order to further increase transparency and ensure the ultimate accuracy of the information.

Users can use this feature to quickly and easily check the safety of their money. Underneath the Merkle Tree data structure, users can see the status of an asset’s “Merkle Leaf”.

Bitget demonstrates its commitment to conducting regular PoR audits and working with top audit firms with the aim of keeping the balance and status of user assets in its holdings up to date. The exchange also established a $300 million protection fund as an additional layer of user protection. This fund is intended to cover the losses of users in the event that their accounts are compromised or assets are lost as a result of circumstances beyond their control or adverse trading behavior. .

By Jules

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