Bybit Enhances Transparency with Comprehensive Proof-of-Reserves Audit

Bybit's Commitment to Transparency

Bybit, a leading cryptocurrency exchange, has emphasized its dedication to transparency and trust by releasing an extensive proof-of-reserves audit. This audit includes 40 cryptocurrencies, marking it as the most comprehensive in the industry. Bybit's move underscores its commitment to maintaining a secure and transparent trading environment, setting it apart from its competitors.

Extensive Crypto Coverage

The audit reveals that all covered cryptocurrencies, including BTC, ETH, USDT, and USDC, are backed over 100%. The reserve ratios for major cryptocurrencies are notably high, with BTC at 116%, ETH at 106%, SOL at 111%, USDT at 107%, and USDC at 129%. These figures reflect Bybit's robust financial health and its capability to safeguard user assets.

Security and Operational Excellence

Bybit's operational integrity is further validated by a perfect Trust Score from CoinGecko and an 'AA' ranking in the CCData Crypto Exchange Benchmark Report. The exchange employs a sophisticated wallet system comprising cold, warm, and hot wallets to ensure the safety and liquidity of client assets. This architecture is designed to maximize security while facilitating efficient transactions.

Industry Leadership

With a user base of 25 million, Bybit continues to lead in the crypto exchange sector. Established in 2018, it offers a professional platform featuring an ultra-fast matching engine and 24/7 customer service. Bybit's association with the Oracle Red Bull Racing team highlights its prominence and commitment to excellence.

Bybit's ongoing efforts to verify its reserves align with its core philosophy of fostering trust through tangible proof, prioritizing the assurance of user investments and operational transparency.