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Victoria, Seychelles, June 25, 2024, Chainwire
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Petgatethe world’s leading cryptocurrency exchange and Web3 company, participated Monthly update For a transparent Proof of Reserves (PoR) tracker that highlights the reserve ratios of Bitcoin (BTC), Ethereum (ETH), USDT, and USDC. Compared to May, users’ Bitcoin, USDT, and ETH volume increased by 9%, 10%, and 46% in June. The latest POR report confirms Bitget’s security with over 163% reserve ratio representing all assets. BTC, ETH, and USDT are at 294%, 169%, and 103% respectively, while USDC is more than 662% covered.
At the time of publication, Bitget PoR held over 5,714 BTC, 68,674 ETH, 935 million USDT, and 60 million USDC. Total reserves stand at $2.9 billion, which symbolizes Bitget’s efforts in maintaining a safe and secure exchange.
The updated PoR demonstrates Bitget’s dedication to maintaining more than the industry standard 100% reserves, which effectively ensures that users’ assets are safe. The platform is able to cover user withdrawals, even if all of the user’s assets are withdrawn.
Bitget’s Proof of Authenticity (PoR) in June verifies user ownership through cryptographic proofs, public wallet ownership, and frequent audits. The custodian provides transparency and proof of on-chain liquid reserves that exceed or equal the sum of all user holdings. To achieve this, Bitget stores the hash of the assets of each user account in a leaf node on the Merkle tree. Each user can verify the presence of their assets in the Merkle tree by checking the total amount of the user’s assets stored in the leaf nodes of the Merkle tree.
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“As Bitget rises to become one of the largest WEB3 companies, it is important to highlight that this growth has been achieved by continually building an ecosystem of products that users truly trust, feel secure, and are easy to use. As an early adopter of transparent proof of performance, we We believe that user security is our priority Gracie Chen, CEO of Bitget
In addition to maintaining a level above the industry standard, Bitget is further securing its users with a $300 million sandbox, which is now worth more than $400 million according to its latest data. Protection Fund Report. This gives the platform an additional layer of resilience against cybersecurity threats. Users whose accounts have been compromised in mishaps not attributable to their actions or business conduct can file a claim through the Bitget Sandbox.
Bitget continues to lead the cryptocurrency derivatives market, with its Open Interest Index (OI) rising above $6 billion in the past month, securing a significant 25% share of the total market. In the past 30 days, Bitget registered Highest monthly flow among all central exchanges, with $1.3 billion In the new capital, strengthening its position as a leader in the industry.
To track PoR in real time, users can visit – https://www.bitget.com/proof-of-reserves
About PetGate
Founded in 2018, Petgate It is the world’s leader Cryptocurrency exchange And Web3 company. Serving more than 25 million users in over 100 countries and regions, Bitget is committed to helping users trade smarter through its leading copy trading feature and other trading solutions. Formerly known as BitKeep, Bitgate wallet It is a world-class multi-chain crypto wallet that offers a range of comprehensive Web3 solutions and features including wallet and swap functionality, NFT marketplace, DApp browser, and more. Bitget inspires individuals to embrace cryptocurrencies by collaborating with trusted partners, including legendary Argentine footballer Lionel Messi and Turkish national athletes Boz Tosun Cavusoglu (world wrestling champion), Samet Gümüş (boxing gold medalist) and Elkin Aydin ( National volleyball team).
For more information, users can visit:
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