Bitget Announces Updated Proof of Reserves for July 2024 with 167% Reserve Ratio

Bitget

Victoria, Seychelles, 29th July 2024 -
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 The platform is capable of covering user withdrawals, even if all user assets are withdrawn.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
here.
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 media inquiries, please contact:
[email protected]
How to sell PIBitget lists PI – Buy or sell PI quickly on Bitget!
Trade nowRecommended
- BitgetBitget Research Report: Blockchain vs. AI - Untapped Potential in Talent Attraction and GrowthExecutive Summary While artificial intelligence (AI) has rapidly scaled to become a dominant force in technology employment, the blockchain sector has yet to unlock its full potential. Despite significant growth trends, blockchain employment remains at a fraction of AI’s workforce expansion. However, if blockchain reaches mainstream adoption at a pace similar to AI, it could generate an exponential increase in job creation, possibly surpassing current projections of 500,000 new roles by 2028. T
2025-04-24
- BitgetBitget Q1 2025 Transparency Report TLDR; Bitget recorded $2.08 trillion total trading volume in Q1 2025; Spot trading volume surged 159% QoQ to $387 billion. Bitget and Bitget Wallet added 19.89 million new users in Q1 2025, increasing its total user base by 20% to over 120 million users in its ecosystem. Bitget’s Protection Fund grew steadily from $495 million in January to $514 million by March 2025. Bitget transferred ~$100 million in ETH to Bybit post-hack, demonstrating exchange solidarity and trust-building in cris
2025-04-11
- BitgetA Letter from our CLO: Statement of Commitment to Regulatory Compliance At Bitget, we pride ourselves on being one of the safest and most trusted cryptocurrency exchanges in the world. We were proud to be recognised recently by Forbes as one of the World's Most Trustworthy Crypto Exchanges and Marketplaces. Our commitment to compliance is at the core of our operations as we strive to create a secure environment for our users. As part of this commitment, Bitget has successfully obtained regulatory licenses and approvals around the world tailored to our different bu
2025-04-07
We offer all of your favorite coins!
Buy, hold, and sell popular cryptocurrencies such as BTC, ETH, SOL, DOGE, SHIB, PEPE, the list goes on. Register and trade to receive a 6200 USDT new user gift package!
Trade nowHow to sell PIBitget lists PI – Buy or sell PI quickly on Bitget!
Trade now