VICTORIA, Seychelles, July 29,
2024 /CNW/ -- Bitget, the world's leading
cryptocurrency exchange and Web3 company, has shared
its monthly update for the transparent tracking of its
proof-of-reserves (PoR) highlighting the reserve ratios of
Bitcoin (BTC), Ethereum
(ETH), USDT and USDC. This update shows the platform's
commitment to transparency and security, highlighting significant
growth in both user assets and platform reserves.
As of July 2024, Bitget's total
reserve ratio stands at an impressive 167%. The latest reserve
ratios for key assets are as follows:
- BTC: Platform asset 17,600.81 BTC, Users' assets
6,145.72 BTC, Reserve Ratio 286%
- USDT: Platform asset 996,825,706.06 USDT, Users' assets
919,528,487.16 USDT, Reserve Ratio 108%
- ETH: Platform asset 109,040.86
ETH, Users' assets 66,970.39 ETH, Reserve
Ratio 163%
- USDC: Platform asset 68,997,170.93 USDC, Users' assets
14,275,191 USDC, Reserve Ratio 483%
Compared to January 2024, Bitget's
user assets in BTC saw an impressive growth of 86.1%, and user
assets in ETH increased by a whopping 146.8%. The
platform reserves also soared by an astounding 208%, while
ETH platform reserves saw an impressive 58.8% increase
compared to last month's figure. This growth highlights Bitget's
commitment to maintaining robust reserves and ensuring user
confidence.
The updated PoR showcases Bitget's efforts in maintaining more
than industry standard 100% reserves, which effectively guarantees
that users' assets are safe. The platform is capable of covering
user withdrawals, even if all user assets are withdrawn.
"Bitget's growth as a leading Web 3 company is built on a
foundation of trust and security. Our commitment to transparent
proof-of-reserves ensures that user assets are safeguarded and
insured. We will continue to maintain the highest standards of
integrity and reliability," said Gracy
Chen, CEO at Bitget.
In addition to maintaining a higher than industry standard PoR,
Bitget insures its users further with a $300M Protection Fund, now valued over
$400 million according to its latest
protection fund report. This gives the platform an extra layer of
resilience against cybersecurity threats. Users who have their
accounts compromised in unfortunate incidents not attributed to
their own actions or trading behavior can make a claim through the
Bitget Protection Fund.
For real-time PoR tracking, please visit -
https://www.bitget.com/proof-of-reserves
About Bitget
Established in 2018, Bitget is the world's leading
cryptocurrency exchange and Web3 company. Serving over
25 million users in 100+ countries and regions, the Bitget exchange
is committed to helping users trade smarter with its pioneering
copy trading feature and other trading solutions. Formerly known as
BitKeep, Bitget Wallet is a world-class multi-chain
crypto wallet that offers an array of comprehensive
Web3 solutions and features including wallet functionality, swap,
NFT Marketplace, DApp
browser, and more. Bitget inspires individuals to embrace
crypto through collaborations with credible partners,
including legendary Argentinian footballer Lionel Messi and Turkish National athletes
Buse Tosun Çavuşoğlu (Wrestling
world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın
(Volleyball national team).
For more information, visit: Website
| Twitter | Telegram | LinkedIn
| Discord | Bitget Wallet
SOURCE Bitget