Victoria, Seychelles, Sept. 08, 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 208%. This POR report upholds Bitget's pledge to users that their funds are fully backed 1:1 and available on demand.
Bitget's PoR data for August 2023 underscores its dedication to maintaining robust financial integrity and technical security. These impressive reserve ratios exemplify Bitget's steadfast promise to safeguard user assets and ensure the highest level of transparency within the cryptocurrency industry.
Bitget’s latest reserve ratios are as follows:
Gracy Chen, Managing Director at Bitget, emphasized the importance of this dedication to transparency, stating, "In today's dynamic financial world, where stability is paramount, Bitget remains steadfast in our commitment to ensuring the utmost security and transparency for our users. We prioritize both financial solidity and technical robustness to instill unwavering confidence in our user base. Bitget will persist in releasing regular Proof of Reserves reports as a cornerstone of trust within our platform."
Bitget's commitment to transparency goes hand in hand with its dedication to user asset security. The exchange carries out regular audits of the PoRs, collaborating with leading audit firms to ensure the accuracy and timeliness of user asset balances within its reserves. To provide an additional layer of safeguard for its users, Bitget has established a $300 Million Protection Fund. This fund is designed to cover users' losses in the event of compromised accounts or lost assets due to unforeseen events or trading behavior beyond their control. Bitget is committed to continuously increasing the Protection Fund to maintain its value, further highlighting its dedication to customer asset security.
Bitget's latest Proof of Reserves report reaffirms its position as a trailblazer in the cryptocurrency exchange industry. The exchange's commitment to transparency, security, and user trust sets a new standard for the entire crypto ecosystem.
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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