Bitget Completes Proof of Reserves (PoR) Update for August 2023
Bitget
2023-08-09 12:50
Bitget has successfully finalized its Proof of Reserves (PoR) update for August 2023. As of August 7, 2023, Bitget's total reserve ratio stands at 201%. The latest reserve ratio is as follows:
Coin name |
Platform's assets |
Users' assets |
Reserve ratio |
BTC |
10650.04 BTC |
2499.80 BTC |
426% Reserves are sufficient |
USDT |
483710438.52 USDT |
388881644.39 USDT |
124% Reserves are sufficient |
ETH |
19054.26 ETH |
12037.32 ETH |
158% Reserves are sufficient |
USDC |
160704550.03 USDC |
8082542.94 USDC |
1988% Reserves are sufficient |
In our effort to enhance platform transparency, Bitget launched its Proof of Reserves page in December 2022, updating the data monthly to ensure that our clients' funds are backed by a minimum 1:1 reserve ratio. Additionally, using the open-source tool 'Merklevalidator', users can also verify the assets on the platform via GitHub. Beyond the PoR, Bitget has set up a $300 Million User Protection Fund to provide an additional layer of safeguard for user assets.
For more details regarding the Proof of Reserves, please visit:
Bitget Proof of Reserves
We deeply appreciate your continued support and trust!