{"id":124949,"date":"2024-08-29T15:29:18","date_gmt":"2024-08-29T13:29:18","guid":{"rendered":"https:\/\/efecomunica.efe.com\/?p=124949"},"modified":"2024-08-29T16:10:41","modified_gmt":"2024-08-29T14:10:41","slug":"bitget-proof-of-reserves-august","status":"publish","type":"post","link":"https:\/\/efecomunica.efe.com\/en\/bitget-proof-of-reserves-august\/","title":{"rendered":"Bitget Proof-of-Reserves August: Increase in Reserve Ratio and Users&#8217; Asset in Ethereum (ETH)"},"content":{"rendered":"<p>Statement issued by the company (Announcement)<\/p>\n<div>\n<p><strong><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=kl7zGQ5_P_ksDDS_bKjyCtr9qYdMpqkado0k6LeeZFifYYPwrspzX-S0B4UvbNN_Tsi02PeqNeZN2I32IhrVgg==\" target=\"_blank\" rel=\"noopener\"><u>Bitget<\/u><\/a><\/strong>, the world&#8217;s <strong>leading cryptocurrency exchange<\/strong> and <strong>Web3 company<\/strong>, has shared its monthly update for the transparent tracking of its <strong>proof-of-reserves (PoR)<\/strong> highlighting the reserve ratios of <strong>Bitcoin (BTC)<\/strong>, <strong>Ethereum (ETH)<\/strong>, <strong>USDT<\/strong> and <strong>USDC<\/strong>. This update shows the platform&#8217;s commitment to transparency and security, highlighting significant growth in both user assets and platform reserves.<\/p>\n<p>In August 2024, Bitget&#8217;s Proof-of-Reserves data showed a significant positive shift, with users&#8217; ETH assets increasing by 22%, marking the highest growth rate for ETH this year. BTC assets continued their upward trend with a 6% increase, while USDC saw a robust performance earlier in the period, highlighting user confidence in these key assets.<\/p>\n<p>As of August 2024, Bitget&#8217;s total reserve ratio stands at an impressive 176% and an increase of 9% from July&#8217;s 167%. The latest reserve ratios for key assets are as follows:<\/p>\n<ul>\n<li style=\"margin-top: 12pt;\"><strong>BTC<\/strong>: Platform asset 18,905.85 BTC, Users&#8217; assets 6,492.53 BTC, Reserve Ratio 291%<\/li>\n<li><strong>USDT<\/strong>: Platform asset 1,041,659,177.52 USDT, Users&#8217; assets 858,766,618.14 USDT, Reserve Ratio 121%<\/li>\n<li><strong>ETH<\/strong>: Platform asset 123,686.9 ETH, Users&#8217; assets 81,625.78 ETH, Reserve Ratio 152%<\/li>\n<li style=\"margin-bottom: 12pt;\"><strong>USDC<\/strong>: Platform asset 77,244,895.83 USDC, Users&#8217; assets 13,633,360.87 USDC, Reserve Ratio 567%<\/li>\n<\/ul>\n<p>In August, Bitget&#8217;s reserves strengthened across all major assets. BTC and ETH user assets grew, with BTC&#8217;s reserve ratio rising to 291%. USDT and USDC reserve ratios improved significantly to 121% and 567%, respectively.<\/p>\n<p>&#8220;Bitget\u2019s strength and leadership in the Web3 space is anchored in providing the highest standards of security and transparency. Our focus on sharing clear proof-of-reserves updates every month guarantees the safety of our user assets. We remain dedicated to setting the benchmark for trust and reliability for CEXs and will continue to maintain this as a part of our user asset security,&#8221; said <strong>Gracy Chen, CEO at Bitget<\/strong>.<\/p>\n<p>From January to August 2024, Bitget has observed substantial growth in user assets across all major cryptocurrencies. ETH has led the way with an impressive 200.88% increase, reflecting heightened user interest and confidence in the asset. BTC assets also saw a robust growth of 96.55%, nearly doubling over the eight-month period. USDT followed closely with a 69.89% increase, showing strong and steady user accumulation. Meanwhile, USDC assets grew by 30.17%, indicating consistent, though more modest, user engagement. Overall, this period highlights significant and diversified growth in user assets on Bitget.<\/p>\n<p>The updated PoR showcases Bitget&#8217;s efforts in maintaining more than industry standard 100% reserves, which effectively guarantees that users&#8217; assets are safe. The platform is capable of covering user withdrawals, even if all user assets are withdrawn.<\/p>\n<p>In addition to maintaining a higher than industry standard PoR, Bitget insures its users further with a $300M Protection Fund, now valued over $400 million according to its latest\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=cVt4CxZ81oUK0LMY_Mph3mqRnUI_HRi5V4YCARjZtIpdWRZBzFakO6QzfGJhZozbp9v3mTtLdIcWCixV8X2JuyhepsuPsr8WFeezSLKSZGNL1hk-1Y2Kky6WMCgZg3vt\" target=\"_blank\" rel=\"noopener\"><u>protection fund report<\/u><\/a>. This gives the platform an extra layer of resilience against cybersecurity threats. Users who have their accounts compromised in unfortunate incidents not attributed to their own actions or trading behavior can make a claim through the Bitget Protection Fund.<\/p>\n<p>For real-time PoR tracking, please visit &#8211; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=QIpE_N71d0COInJEJ3R469cuXzz7s0J8B3JTuf16QAaRCLZB7jkKUC8LUgNyPlsc5m3DAfxxO0wM2r__luTQx9lGms9HlrRj07fe9RCpNIsPEkrbLxuoWE8jC38yTWVcTKk32P9YObb_hosnYFrMEg==\" target=\"_blank\" rel=\"noopener\"><u>https:\/\/www.bitget.com\/proof-of-reserves<\/u><\/a><\/p>\n<h2>About Bitget<\/h2>\n<p>Established in 2018, Bitget is the world&#8217;s leading <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=fS6PD19ej8ljEAi4KqEHz5bFp8wgG7KN4qk3Mlk4HHdtRlgm8HiHuegXJrZXtvAY0Q1Vm5YR9HFsihSTsznsRULFIebVOEvRxGN6QzDA5u8=\" target=\"_blank\" rel=\"noopener\"><u>cryptocurrency exchange<\/u><\/a> and Web3 company. Serving over 25 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, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=kl7zGQ5_P_ksDDS_bKjyCkoZ5srgu8lnb2Oqq87dOwJBHu7nBTecFx0RaMxM692VlVj4UWGsyZ8nzijG6LwbypJU-5YjfQao9w2Q2OPAIM8=\" target=\"_blank\" rel=\"noopener\"><u>Bitget Wallet<\/u><\/a> is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including <strong>wallet functionality, swap, NFT Marketplace, DApp browser<\/strong>, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and Turkish National athletes Buse Tosun \u00c7avu\u015fo\u011flu (Wrestling world champion), Samet G\u00fcm\u00fc\u015f (Boxing gold medalist) and \u0130lkin Ayd\u0131n (Volleyball national team).<\/p>\n<pre>For more information, visit: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=fCEdD4CeXhqgSpvtZ6JU9qJ67VBucd3pldCxYe1f6jb8myYugMFD5t3U312Yi87oqMltgn8XhIgIEyEvVwtrtg==\" target=\"_blank\" rel=\"noopener\"><u>Website<\/u><\/a> | <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=EXLF33gKXCgm5WND9KR2OBXlK-WyDW1kDMhJAG30kgcfADqBOWX11SG3sh3GmDxNFHSYszn9J7Zg-0-kpwyLPkmyA-jXarnMGapqjRfuxcU=\" target=\"_blank\" rel=\"noopener\"><u>Twitter<\/u><\/a> | <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=LF8RgwAU0GTJ-iyhAriZLRasnSHt-IKkySEmf0h-80QFHFPvzioDgNVdHvUiXhpCmMl1HRzQ1yZgLku73ro1Ag==\" target=\"_blank\" rel=\"noopener\"><u>Telegram<\/u><\/a> | <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=cJMzK7Xz2YTyb683xecXSC5c46hpacQDLga4sxLwBmC7DJHh7_5ujpBjdwE1zofI4-wDJbtpNhFMNZD_hH1NuL-uNDlFGdCNbGUiQNESqdgaQpupim5-Tshvhz7B1HZD\" target=\"_blank\" rel=\"noopener\"><u>LinkedIn<\/u><\/a> | <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=UoAgAQQo5a0KcakuYClLCtWYsDa1wLQxE5_KYteaObLx-9PhzW6PFl89uI8EFow2uUgm8NHAkJy1cGVyV_gnNC_RqOTu1J9isXD6qBDgVZE=\" target=\"_blank\" rel=\"noopener\"><u>Discord<\/u><\/a> | <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=kl7zGQ5_P_ksDDS_bKjyCu7Us3gVIiXqxA8b5BuE9U2pFZWr5TGZI6sCV5DH93hDU52IXuImEDl8MURcktuHyGBurWkMxMmViXhuQwW5FDQ=\" target=\"_blank\" rel=\"noopener\"><u>Bitget Wallet<\/u><\/a>\r\nFor media inquiries, please contact: <u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=3ysdPlmo57S_ZNxax3plJ2UHZHCL8VacMiOeYbC6N5CJre3BwUXNMLlvwIJU9iNPSGZKdreCaX1NQDPqh8VY43Og0rcMSV3QFBL_XvuNT30=\" target=\"_blank\" rel=\"noopener\">media@bitget.com<\/a><\/u><\/pre>\n<p>A photo accompanying this announcement is available at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=QIpE_N71d0COInJEJ3R46_TVaemjd56ioesRj0jYP1ILUbEQMeU7N22pb3mDn-x_NAIHVAtScPXJoeVINylGSsCaSuP7UXvemoXJMFPVLLywJiymJ2DxGaMfq-pYKd4tgdZzG2RR2jQiBkUG59obu3edybBYOkulDFS6tOPlXmg2q9dj6tgT3xCo2_tr96kk2h6Mzy5ZHQXYDdrRlgFIW4Hxr935HxxlR9jiSEzoREVkvljiOlX5WxkJjjCrOm5kZ_1QtMWhIQa8GgB0IXVqXA==\" target=\"_blank\" rel=\"noopener\">https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/90ab6fe4-5cb6-436c-a969-6affce93009a<\/a><\/p>\n<p><em>AGENCIA EFE S.A.U. shall not be liable for any information contained in this message and assumes no responsibility towards third parties in relation to its contents, being expressly exempt from any liability that the author may have in relation to the information in question.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Statement issued by the company (Announcement) Bitget, the world&#8217;s leading cryptocurrency exchange and Web3 company, has shared its monthly update for the transparent tracking of its proof-of-reserves (PoR) highlighting the [&hellip;]<\/p>\n","protected":false},"author":198164071,"featured_media":48434,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[125518],"tags":[],"class_list":["post-124949","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-globenewswire-en"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bitget Proof-of-Reserves 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