Bitget proudly reaffirms its commitment to transparency and showcases continuous growth in user assets with its May 2024 Proof of Reserves (PoR) update. This update highlights Bitget’s dedication to maintaining robust reserves and ensuring the security of user assets.
Proof of Reserves at 169% ratio
Bitget’s May 2024 PoR report reveals a total reserve ratio of 169%, well above the industry standard of 100%. BTC and ETH ratios are particularly impressive, soaring to 295% and 209%, respectively.
The report also notes substantial increases in user assets for USDT and ETH, which have grown by 64% and 72% since January 2024. These figures not only indicate rising user confidence but also reflect strong momentum in user growth.
Bitget is resolute in its commitment to transparency and financial stability. Our latest PoR update reaffirms our dedication to protecting user assets and maintaining the highest standards of accountability. With a total reserve ratio of 169%, Bitget leads the cryptocurrency exchange industry, setting an example for others.
– Gracy Chen, Bitget’s CEO
Bitget continues to be a safe exchange
Bitget’s commitment to transparency and security is evident in its regularly updated reserve ratios for major cryptocurrencies like BTC, ETH, USDT, and USDC. This dedication is a key part of Bitget’s mission to provide users with a safe and transparent trading environment. Beyond PoR disclosures, Bitget has established a Protection Fund and regularly publishes valuations to enhance user protection and mitigate risks.
Read our Bitget review to find out why you should consider it as your trading home!
According to CoinMarketCap data as of April 22, 2024, Bitget’s total reserves exceed $2.9 billion. This solidifies its reputation as a reliable and trustworthy player in the cryptocurrency exchange market. Through consistent audits, Bitget ensures ongoing visibility, demonstrating its commitment to openness and accountability.
In order to further solidify trust in their exchange, let’s not forget that Bitget also has a remarkable $465 million user protection fund. The Proof of Reserves update by Bitget follows Gate.io’s May report, which also showed assets well above user deposits at a ratio of 115%.
Bitget remains dedicated to setting industry standards and fostering trust within the cryptocurrency community. Their continuous growth and transparent practices reinforce their position as a leading exchange.
