Bitget Announces Updated Proof of Reserves for July 2024 with 167% Reserve Ratio
Bitget, the world’s leading cryptocurrency exchange and Web3 company, has announced its updated Proof of Reserves for July 2024 with an impressive 167% reserve ratio. This monthly update showcases 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 167%, with key assets like Bitcoin (BTC), Ethereum (ETH), USDT, and USDC showing strong reserve ratios as well. Compared to January 2024, Bitget’s user assets in BTC saw an 86.1% growth, while user assets in ETH increased by a whopping 146.8%. The platform reserves also saw a significant increase, highlighting Bitget’s dedication to maintaining robust reserves and ensuring user confidence.
In addition to maintaining a higher than industry standard Proof of Reserves, Bitget further insures its users with a $300 million Protection Fund, now valued over $400 million. This additional layer of protection gives users peace of mind against cybersecurity threats, allowing them to make claims through the Bitget Protection Fund in case of compromised accounts.
Gracy Chen, CEO at Bitget, emphasized the company’s commitment to trust and security, stating, “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.”
For real-time Proof of Reserves tracking, users can visit Bitget’s website. Established in 2018, Bitget serves over 25 million users in 100+ countries and regions, offering innovative trading solutions and a multi-chain crypto wallet. With collaborations with notable figures like Lionel Messi and Turkish National athletes, Bitget continues to inspire individuals to embrace crypto.
Overall, Bitget’s updated Proof of Reserves for July 2024 highlights the platform’s dedication to transparency, security, and user protection in the ever-evolving world of cryptocurrency trading.
