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Bybit releases 15th proof of reserves, user Bitcoin assets up over 4.6% from September

Cryptocurrency exchange Bybit has released its fifteenth proof of reserves report, showing changes in user asset holdings. The report, based on a snapshot taken on October 1, 2024, reveals increases in Bitcoin and Ethereum assets, while Tether holdings have decreased. Bybit users' Bitcoin assets grew by 4.65%, reaching 51,421 BTC, indicating rising interest in Bitcoin. Ethereum holdings also saw a positive trend, with assets reaching 367,500 ETH, up 4.31%. However, Tether holdings dropped by 6.94% to 2.91 billion. The report also shows a significant decrease in Mantle holdings without a clear reason. Bybit maintains high reserve ratios for assets like XRP, UNI, and SHRAP, indicating a commitment to liquidity and user fund security. By publishing these reports, exchanges aim to build trust with customers and demonstrate responsible handling of their crypto assets.

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