Bybit Released The Reserve Assets  Worth 1.85 Billion US Dollars

Bybit announced reserve assets worth approximately 1.85 billion US dollars, with stable coins accounting for approximately 55% of the total.

On November 16, the cryptocurrency exchange Bybit and Nansen announced the platform’s reserve assets. According to the data, the total value of Bybit’s reserve assets is approximately 1.85 billion US dollars, with USDT being the single asset with the highest value; the total proportion of stablecoin assets is 55.08%, including USDT, USDC, BUSD, and DAI; BTC (18.97%) and ETH (11.46%) accounted for more than 30%; and BIT reserves ranked fifth, accounting for 5.15%.

According to the exchange CEO Ben Zhou, the company is still working on POR solutions such as the UID-level Merkel Tree. New escrow options are also being investigated, including the ability for users to view their on-chain balances or third-party escrow. During this special period, they guarantees a 1:1 reserve for all users and ensures that all user withdrawals are processed in a timely manner.

The CEO stated that transparency is demonstrated by one of Bybit’s key initiatives, Bitdao Treasury. Users can view the portfolio on Nansen.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Chubbi

CoinCu News