Bitget Proof-of-Reserves (POR) in June shows an increase in user assets for Ethereum (ETH) by 46 %

Victoria, Seychellen, June 25, 2024, Chainwire

Bitget The world's leading cryptocurrency exchange and web3 company, href = "https://www.bitget.com/support/articles/125603811582"> Monthly update For the transparent persecution of his proof-of-reserves, which emphasizes the reserve rates of Bitcoin (BTC), Ethereum (ETH), USD and USDC. Compared to May, the BTC, USDT and ETH amounts of the users rose by 9 %, 10 %and 46 %in June. The current POR report emphasizes Bitget's security, with over 163 % of the reserve quota making all assets. The BTC, ETH and USDT quotas are 294 %, 169 % or 103 %, while USDC is covered with over 662 %.

At the time of publication, the Bitget POR holds over 5,714 BTC, 68,674 ETH, 935 million USD and 60 million USDC. The total reserves amount to USD 2.9 billion, which symbolizes Bitget's efforts to maintain a safe exchange.

The updated POR shows Bitget's commitment to keep more than the industrial standard of 100 % reserves, which effectively guarantees that the assets of the users are secure. The platform is able to cover user withdrawals, even if all user assets are withdrawn.

Bitgets POR in June verified its user stocks through cryptographic evidence, public wallet ownership and recurring exams. The storageer ensures transparency and the proof of the existence of liquiders on-chain reserves that exceed or meet the sum of all user stocks. To achieve this, Bitget stores the hash of the assets of each user account in a leaf node in the Merkle tree. Each user can check whether their assets are available in the Merkle tree by checking the total amount of the user wealth values stored in the leaf nodes of the Merkle tree.

"Since Bitget rises to one of the largest web3 companies, it is important to emphasize that this growth was achieved through the continuous structure of an ecosystem of products that the users really trust and that feel safe and easy to use. As the very first user of transparent POR, we believe that the security of the user is our priority," said Gracy Chen, CEO At bitget

In addition to maintaining a POR, above the industrial standard, Bitget also assures its users with a $ 300 million protection fund, which according to its latest Report of the protection fund . This gives the platform an additional resistance level against cyber security threats. Users whose accounts have been compromised by unfortunate incidents that are not due to their own actions or trade behavior can claim a claim for the Bitget Protection Fund.

Bitget is still a leader on the market for crypto derivatives. His open interest (OI) indicator rose to over $ 6 billion in the last month and thus secured a considerable share of 25 % in the overall market. In the last 30 days, Bitget listed the highest monthly inflow among all centralized stock exchanges, with 1.3 billion US dollar in this way and thus strengthens its position as Industry leader.

For the real-time tracking of POR, users can visit the following: https://www.bitget.com/proof-of-ofreserves

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founded in 2018, bitget is the world's leading cryptocurrency exchange and web3 company. The Bitget exchange serves over 25 million users in over 100 countries and regions and has set itself the goal of helping users with their groundbreaking copy trading function and other trade solutions to help act more intelligently. Formerly known as Bitkeep, Bitget wallet is a first-class multi-chain-krypto wallet that offers a number of comprehensive web3 solutions and functions, including wallet functionality, Swap, NFT marketplace, Dapp browser and more. Bitget inspires individuals to deal with crypto, through working with credible partners, including the legendary Argentine footballer Lionel Messi and the Turkish national athletes Bus Tosun Çavuşoğlu (wrestling world champion), Samet Gümüş (gold medal winner in boxing) and İlkin Aydın (Volleyball national team).

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