VICTORIA, Seychelles, Oct. 12, 2023 /PRNewswire/ -- 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, remarking, "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.
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.