Bitget Demonstrates Continuous User Assets Growth with April 2024 Proof of Reserves Update

by cryptowire.ai May 2, 2024

May 2, 2024

VICTORIA, Seychelles, May 2, 2024 /PRNewswire/ — Bitget, the world’s leading cryptocurrency exchange and Web3 company, reaffirms its commitment to transparency and demonstrates continuous user asset growth with its latest April 2024 Proof of Reserves (PoR) update. The update showcases Bitget’s unwavering dedication to maintaining robust reserves, ensuring the security of user assets amidst the dynamic crypto landscape.

The April 2024 PoR report reveals a total reserve ratio of 176%, with ratio for BTC and ETH reaching 335% and 229% respectively. The latest update also unveils a significant increase in the user assets of USDT and ETH, as both figures grew as much as 51% and 46% since January 2024, showing strong momentum in user confidence and growth.

Gracy Chen, Managing Director at Bitget, emphasized the significance of the latest PoR update, stating, “Bitget is unwavering in its commitment to transparency and financial stability. Our latest PoR update reinforces our dedication to safeguarding user assets and upholding the highest standards of accountability. With a total reserve ratio of 176%, Bitget continues to lead by example in the cryptocurrency exchange industry.”

The regularly updated reserve ratios for prominent cryptocurrencies, including BTC, ETH, USDT, and USDC, underscore Bitget’s commitment to providing users with a secure and transparent trading environment. Bitget’s dedication to transparency extends beyond PoR disclosures. The exchange has also established a Protection Fund and publishes monthly valuations to further enhance user protection and mitigate potential risks.

As of April 22, 2024, Coinmarketcap reports that Bitget’s total reserves exceed $2.7 billion, consolidating Bitget’s position as a reliable and trustworthy cryptocurrency exchange. By conducting routine audits, Bitget ensures continuous visibility and upholds its responsibility to openness and accountability.

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.