Bitget has released its May 2024 Proof-of-Reserves report, showcasing a strong reserve ratio of 169%. This figure greatly surpasses the industry benchmark of 100%, highlighting Bitget’s financial stability.
The report reveals Bitcoin reserves at 295% and Ethereum reserves at 209%, indicating ample reserves for users. Since January 2024, USDT and Ethereum user assets have increased by 64% and 72%, respectively.
Bitget emphasizes transparency with regular updates and audits. CEO Gracy Chen stated the importance of protecting user assets and maintaining high accountability standards.
Additionally, Bitget has set up a “Protection Fund” to enhance user safety and mitigate risks. With reserves exceeding $2.9 billion as of April 22, 2024, Bitget’s robust financial health and transparency set a high standard in the crypto exchange industry.
These measures ensure long-term trust and stability for users.
