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:
[email protected]
2023-10-12
Recommended
- Press releaseBitget Lists Solana-based GameStop (GME) Tokens for Spot Trading Victoria, Seychelles, May 14th, 2024 – Bitget, the world's leading cryptocurrency exchange and Web3 company, has announced the listing of GameStop (GME) community coin which is a parody token of GameStop. The GME memecoin pays homage to the GameStop saga anniversary. Built on Solana, the token has amassed curiosity amongst SOL ecosystem. Deposits are open for GME-SOL-based tokens, listed on Spot corridor under Innovation zone for memecoins. With the rise of memecoins, Solana projects have been2024-05-14
- Press releaseBitget's Pre-Market brings NotCoin (NOT) to its users prior to CEX-listings Victoria, Seychelles, 10th May, 2024 – Bitget, the world's leading cryptocurrency exchange and Web3 company, has announced adding NOT tokens from NotCoin ecosystem in pre-market token sales for its users. With this, users can gain early pricing power over NOT, making it easier to become the primary trading market for the asset once it is listed on various exchanges. The NotCoin community has one of the biggest telegram communities in crypto projecting over 64M members2024-05-10
- Press releaseBitget PoolX Announces Listing of MODE (MODE) Victoria, Seychelles, May 7 2024 - Bitget, a leading cryptocurrency exchange and Web3 company, is thrilled to announce the listing of MODE (MODE) on its innovative stake-to-mine platform, PoolX. MODE, short for Modular DeFi L2, is a pioneering project backed by Optimism, aimed at revolutionizing decentralized finance (DeFi) on layer 2 solutions. PoolX, Bitget's latest offering, enables users to stake specific coins to earn popular tokens. Each pr2024-05-07