VICTORIA, Seychelles, May 8, 2024 /PRNewswire/ — Bitget, a leading crypto exchange and Web3 company, demonstrates continued growth in user assets with its latest proof of reservations. The update shows Bitget’s unwavering commitment to maintaining robust reserves, ensuring the safety of user assets in the highly dynamic cryptocurrency landscape.
The April 2024 PoR report reveals a total reserve ratio of 176%, with the ratio for BTC and ETH reaching respectively 335% and 229%. The latest update also reveals a significant increase in users’ USDT and ETH assets, with both figures increasing by up to 51% and 46% respectively since January 2024.
Grace Chengeneral director of Bitget, said: “The latest update to our proof of reserves reinforces our dedication to protecting user assets and upholding the highest standards in security. With a total reserves ratio of 176%, Bitget continues to show the example in the sector of cryptocurrency exchange platforms.”
Regularly updated reserve ratios for major cryptocurrencies, including BTC, ETH, USDT and USDC, underline Bitget’s commitment to providing users with a secure and transparent trading environment. Bitget’s transparency efforts are not limited to disclosing proof of reserves.
The platform has also set up a protection fund and publishes monthly valuations in order to strengthen user protection and mitigate potential risks. The latest report revealed a valuation of $465 million in April, far exceeding the guaranteed amount of $300 million.
This fund is meticulously designed to protect digital assets from a wide range of risks, ranging from cyber threats and fraud to high market volatility. Operating within a self-contained framework, the Bitget Protection Fund provides flexible and adaptable protection strategies that are not dependent on external factors. This constitutes a decisive advantage, because it can considerably improve the security of the community.
As of April 22, 2024, CoinMarketCap reports that Bitget’s total reserves exceed $2.7 billion, solidifying Bitget’s position as a reliable and trustworthy cryptocurrency exchange. By conducting frequent audits, Bitget ensures continuous visibility and assumes its responsibility in terms of transparency and accountability.
About Bitget
Created in 2018, Bitget is a web3 company that is one of the leading cryptocurrency exchange platforms in the world. Serving more than 20 million users across hundreds of countries and regions, the Bitget platform is committed to helping users trade smarter through its revolutionary copy trading functionality as well as other trading solutions.
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