Cryptocurrency exchange Bybit strengthens user trust with the release of its 13th Proof of Reserves report, demonstrating full coverage of customer assets.
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| Bybit reassures users with the release of its 13th Proof of Reserves report, demonstrating financial stability and commitment to transparency. |
DUBAI , UAE, August 16, 2024:
Bybit, a leading cryptocurrency exchange, has released its 13th Proof of Reserves (PoR) report, demonstrating robust asset coverage and reaffirming its commitment to transparency. The report, verified by independent auditors Hacken, showcases a strong reserve ratio for key assets including Bitcoin, Ethereum, USDT, USDC, and newly included USDe.
Bybit's consistent publication of PoR reports and the use of advanced cryptographic technology underscore its dedication to safeguarding user funds. The exchange maintains reserve ratios exceeding 100% for its primary assets, providing assurance to customers about the security of their investments.
"We are proud to share our latest PoR report, which highlights Bybit's unwavering commitment to transparency and financial integrity," said Joan Han, Bybit's Sales & Marketing Director. "By leading by example, we aim to foster a more transparent and trustworthy crypto industry."
Hacken's independent audit further validates Bybit's robust financial position and adherence to industry best practices. The report's findings emphasize Bybit's commitment to maintaining a 1:1 ratio for all in-scope assets, ensuring full coverage for user liabilities.
Bybit continues to advocate for industry-wide transparency and actively participates in initiatives to enhance trust and accountability in the cryptocurrency ecosystem.
Bybit is a leading cryptocurrency exchange that offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. The platform serves over 40 million users worldwide.