BTC Reserves Ratio Surpasses 335% Amid Market Turbulence

Victoria, Seychelles May 2, 2024 — Cryptocurrency exchange Bitget has released its latest April 2024 Proof of Reserves (PoR) update, reaffirming its commitment to transparency and demonstrating the security of user assets amidst the dynamic crypto landscape.

The April 2024 PoR report reveals a total reserve ratio of 176%, with the ratio for BTC and ETH reaching 335% and 229% respectively. The latest update also unveils a significant increase in USDT and ETH user assets, as both figures grew as much as 51% and 46% since January 2024, showing strong momentum in user confidence and growth.

Gracy Chen, Managing Director at Bitget, emphasized the significance of the latest PoR update, stating, “Bitget is unwavering in its commitment to transparency and financial stability. Our latest PoR update reinforces our dedication to safeguarding user assets and upholding the highest accountability standards. With a total reserve ratio of 176%, Bitget continues to lead by example in the cryptocurrency exchange industry.”

The regularly updated reserve ratios for prominent cryptocurrencies, including BTC, ETH, USDT, and USDC, underscore Bitget’s commitment to providing users with a secure and transparent trading environment. Bitget’s dedication to transparency extends beyond PoR disclosures. The exchange has also established a Protection Fund and publishes monthly valuations to enhance user protection further and mitigate potential risks.

As of April 22, 2024, Coinmarketcap reports that Bitget’s total reserves exceed $2.7 billion, consolidating Bitget’s position as a reliable and trustworthy cryptocurrency exchange. By conducting routine audits, Bitget ensures continuous visibility and upholds its responsibility to openness and accountability. The latest information on Bitget’s reserves and assets addresses is publicly available and can be validated using blockchain via the following link.

Source: Bitget

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