Bitget, a leading platform for copy trading and crypto derivatives, has set a new standard for transparency in the industry with its latest Proof of Reserves (PoR) report. The exchange’s total reserve ratio of 223% is more than double the industry average of 100%, showcasing its commitment to providing verifiable data to its users.
The recent proof of reserves reveals that Bitget holds over $1.44 billion in reserves across 31 digital assets, with reserve ratios consistently exceeding 200% for the past seven months. The top assets in Bitget’s reserves include Bitcoin (454%), Tether (135%), Ethereum (171%), and USD Coin (2604%). This level of transparency and accountability is unprecedented in the crypto exchange sector.
In addition to publishing regular PoR reports, Bitget has introduced the “Merkle Validator” tool, allowing users to conduct self-audits of their accounts for added security. The exchange also collaborates with top audit firms to ensure the accuracy of user asset balances and has established a $300 million Protection Fund to cover losses in case of account compromise or asset loss.
Bitget’s dedication to transparency and user protection sets it apart in the crypto exchange landscape, providing users with peace of mind and confidence in the security of their assets. With its record-setting reserve ratios and innovative tools for self-auditing, Bitget continues to lead the way in fostering trust and accountability in the industry.
For more information, you can read the full article here.
