Fintech PR

Bitget Leads Industry with Solid Proof of Reserves Ratio of 171%

Published

1 year ago

December 8, 2023

VICTORIA, Seychelles, Dec. 8, 2023 /PRNewswire/ — Bitget, the world’s leading cryptocurrency exchange and Web3 company, has released its latest monthly report on Proof of Reserves (PoR), reaffirming its dedication to comprehensive transparency through a total reserve ratio of 171%. This PoR report underscores Bitget’s commitment to ensuring that users’ funds are fully backed 1:1 and available at all times.

The PoR data from December 2023 emphasizes Bitget’s focus on maintaining strong financial health and stability. These impressive reserve ratios reinforce Bitget’s unwavering promise to protect user assets and ensure unparalleled transparency in the cryptocurrency realm. According to Coinmarketcap’s data on December 7, Bitget’s total reserves exceeded $1.7 billion, encompassing a variety of significant digital assets including BTC, ETH, USDT, USDC, and others. This report serves as clear evidence of Bitget’s enduring commitment to transparency.

Gracy Chen, Managing Director at Bitget, highlighted the paramount importance of transparency: “Bitget remains steadfast in delivering the highest level of security and transparency to its users. We prioritize financial stability and technical resilience to instill unwavering confidence in our platform. We take immense pride in maintaining the most robust reserve ratio among major exchanges. This steadfast dedication to financial stability reinforces our users’ trust in Bitget as a reliable and trustworthy crypto exchange.”

Bitget’s commitment to transparency aligns with its primary focus on enhancing user asset security. In addition to safeguarding its users, Bitget has set up a Protection Fund and publishes its valuation report monthly. The fund is designed to cover any losses incurred due to compromised accounts, lost assets, or unforeseen events beyond their control.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and web3 company. Serving over 20 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.