Victoria, Seychelles, Aug. 09, 2023 (GLOBE NEWSWIRE) -- Bitget, top crypto derivatives and copy trading platform, has unveiled its latest monthly Proof of Reserves (PoR) report, continuing its commitment to comprehensive transparency with its total reserve ratio of 201%. This POR report upholds Bitget's pledge to users that their funds are fully backed 1:1 and available on demand.
Since December 2022, Bitget has diligently released verifiable PoR data on a monthly basis, exemplifying its dedication to instilling trust and confidence by setting a groundbreaking standard for transparency within the crypto sphere. By opening its financial records and willingly submitting to frequent audits, Bitget endeavors to establish an unparalleled level of reassurance for its user base. The exchange is determined to lead the industry in both transparency and reliability.
According to data from Coinmarketcap on August 7th, the cumulative reserves' value surpasses $1.37 billion, spanning 31 prominent digital assets including BTC, ETH, USDT, USDC, and others. This comprehensive report serves as a testament to Bitget’s unwavering dedication to transparency, with reserve ratios consistently exceeding 200% over the past eight months, twice the industry standard of 100%.
Gracy Chen, Managing Director of Bitget, emphasized the pivotal role of trust and transparency in the company's operations, stating, "At Bitget, trust is among our top priorities. We firmly believe that radical transparency is a cornerstone for fostering confidence in the crypto industry. By subjecting ourselves to regular Proof of Reserves assessments and delivering verifiable outcomes monthly, we aspire to provide our users with an unprecedented level of certainty in the security of their assets. As a leading crypto exchange, Bitget is steadfast in upholding the highest benchmarks of integrity and strives to set a shining example of transparency across the crypto landscape."
In addition to its commitment to transparency, Bitget has fortified its asset security measures through the establishment of a $300 Million Protection Fund. The fund stands as an additional safeguard, ensuring users are insulated against potential losses arising from compromised accounts, unforeseen loss of assets, or extraordinary market events.
About Bitget
Established in 2018, Bitget is the world's leading cryptocurrency exchange that offers Copy Trading services as one of its key features. Serving over 20 million users in more than 100 countries and regions, the exchange is committed to helping users trade smarter by providing a secure, one-stop trading solution. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.
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