Bitget Demonstrates Ongoing Commitment to Transparency with 207% Reserve Ratio in Monthly POR Report
Press release
VICTORIA, Seychelles, Oct 12, 2023 — Bitget, top crypto derivatives and
copy trading platform, has unveiled its latest monthly
Proof of Reserves (PoR)
report, continuing its commitment to comprehensive transparency with its total reserve ratio of 207%. This POR report upholds Bitget's pledge to users that their funds are fully backed 1:1 and available on demand.
Since December 2022, Bitget has consistently shared verifiable PoR data on a monthly basis, setting the standard for transparency within the crypto industry and showcasing its commitment to instilling trust and confidence. By willingly opening its financial records to regular audits, Bitget continues to lead the way in both transparency and reliability.
Bitget’s latest reserve ratios are as follows:
As of the data collected on October 10th, the total value of cumulative reserves exceeds $1.38 billion, encompassing 31 prominent digital assets, including BTC, ETH, USDT, USDC, and others. This report serves as a testament to Bitget’s consistent commitment to transparency, with reserve ratios consistently surpassing 200% for the past nine months, doubling the industry standard of 100%.
Gracy Chen, Managing Director of Bitget, underscored the fundamental importance of trust and transparency within the company's operations, rem arking, "At Bitget, trust remains our foremost priority. We firmly uphold the belief that unwavering transparency is a cornerstone in cultivating trust throughout the cryptocurrency industry. By consistently subjecting ourselves to Proof of Reserves assessments and providing verifiable results every month, our aim is to furnish our users with an unparalleled level of assurance regarding the security of their assets. As a leading crypto exchange, Bitget remains resolute in setting the highest standards for integrity and continues to serve as a beacon of transparency within the crypto landscape."
In addition to its commitment to transparency, Bitget has fortified its asset security measures through the establishment of a
$300 Million Protection Fund. The fund stands as an additional safeguard, ensuring users are protected against potential losses arising from compromised accounts, unforeseen loss of assets, or extraordinary market events.
About Bitget
Established in 2018,
Bitget is the world's leading
cryptocurrency exchange that offers Copy Trading services as one of its key features. Serving over 20 million users in more than 100 countries and regions, the exchange is committed to helping users trade smarter by providing a secure, one-stop trading solution. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.
For media inquiries, please contact:
media@bitget.com
2023-10-12
Recommended
- Press releaseBitget Lists Scroll (SCR) Ethereum-based zkEVM Layer 2 for Pre-market Trading Victoria, Seychelles, September 20th, 2024 – Bitget, the leading cryptocurrency exchange and Web3 company, has listed SCR tokens from the Scroll ecosystem, a zero-knowledge EVM L2 based around the Ethereum ecosystem. With this listing, Scroll tokens are now available for Bitget users to place buy and sell orders prior to its market listings on various CEXs. Scroll is a security-focused scaling solution for Ethereum, using innovations in scaling design and zero knowledge proofs to build a new2024-09-20
- Press releaseBitget Enters A Multi-Million Dollar Deal With La Liga to Explore Crypto-Sports Synergy Victoria, Seychelles, 19th September, 2024: Bitget, the world's leading cryptocurrency exchange and Web3 company, has partnered up with LALIGA, the world's most celebrated football league, as an official crypto partner. The collaboration unveiled at Token2049 in Singapore indicates Bitget's strategic move into the sports sector across Eastern, Southeast Asia, and Latin America. The multi-million dollar partnership boasts exclusive benefits to both parties and alig2024-09-18
- Press releaseBitget Announces Winners of Smart Awards 2024 – the Best in Crypto Space Finally Recognized Victoria, Seychelles, 19 September 2024 – Bitget, the leading cryptocurrency exchange and Web3 company, has released the list of winners of its esteemed Smart Awards 2024 event, recognizing the top performers within the scope of a year in the crypto space across 5 categories. The event was held in collaboration with Bitget’s data provider — 0xScope, which ensured a transparent and fair winner selection process. The highly anticipated Bitget Smart Awards 2024, which took place on September 122024-09-18