Bitget released its Proof of Reserves (PoR) report, showcasing a total reserve ratio of 199%, up from 192% in May. (Source: Bitget) This demonstrates the platform's ability to maintain reserves well above the industry standard.
The report highlights a 429% reserve ratio for BTC, with 28,286.53 BTC held against 6,593.8 BTC in user liabilities. USDT reserves stand at 108%, and ETH at 148%. USDC holdings recorded the highest increase with a 270% reserve ratio.
Bitget's PoR uses Merkle tree technology, with the June snapshot reflecting 27 layers and over 40 million individual asset records. The platform also operates a US$600 million Protection Fund to enhance user security.