Bitget Proof-of-Reserves September

Bitget Proof-of-Reserves September: Bitget Ends the Quarter with 30% Jump in Users’ Assets in Ethereum (ETH)

Press release

Victoria, Seychelles, 30th September 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.

In September 2024, Bitget’s proof of Proof-of-Reserves data shows a significant jump, with users’ ETH assets surging by 30% as compared to the beginning of this quarter in July 2024. BTC users’ assets jumped by 8% during the same period highlighting a strategic shift towards crypto heavy weights just ahead of crypto market’s favourite month, October, also known as Uptober.

As of September 2024, Bitget’s total reserve ratio stands at an impressive 166%. The latest reserve ratios for key assets are as follows:

BTC: Platform asset 19,639.57 BTC, Users' assets 6,644.25 BTC, Reserve Ratio 296%
USDT: Platform asset 961,584,890.64 USDT, Users' assets 911,810,273.02 USDT, Reserve Ratio 105%
ETH: Platform asset 129,132.6 ETH, Users' assets 87,164.81 ETH, Reserve Ratio 148%
USDC: Platform asset 80,288,046.1 USDC, Users' assets 14,706,783.68 USDC, Reserve Ratio 546%

In September, Bitget's reserves strengthened across all major assets. BTC and ETH user assets grew, with BTC's reserve ratio rising to 296%. USDT and USDC reserve ratios holding strong at 105% and 546% respectively.

Commenting on the latest data, Gracy Chen, CEO at Bitget, said, “Bitget has set the highest standards of user security by leading the industry to a transparent and secure business model. By ensuring 45 million users on our platform feel safe about their valuable assets on Bitget proves the strength of our community. Releasing regular proof of reserve report is a part of our continued efforts to create an environment of trust within the digital asset ecosystem.”

Since January 2024, Bitget has witnessed a healthy growth in users’ assets on it platform showing high level of trust from its community worldwide. BTC has shown over a 100% jump un users’ assets while ETH has registered a staggering growth of 221% in users’ assets during the same period. USDT has done remarkably well with 80% jump in users’ assets while USDC has shown a modest growth of 40%.

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.

In addition to maintaining a higher than industry standard PoR, Bitget insures its users further with a $300M Protection Fund, now valued over $427 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 behaviour 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 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading, AI bot and other trading solutions. 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 being the Official Crypto Partner of the World's Top Professional Football League, LALIGA, in EASTERN, SEA and LATAM, as well as a global partner of Olympic Athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team).

For media inquiries, please contact: media@bitget.com

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