Bitget Expands Proof of Reserves Across 20+ Assets

Bitget has expanded its Proof of Reserves (PoR) system to cover more than 20 major assets, including BGB, BTC, USDT, and others. This move aims to provide greater transparency for users into the assets backing their funds.

The updated PoR system now includes a wider range of cryptocurrencies, such as HYPE, DOGE, BNB, XAUT, TRX, SUI, TAO, LINK, ONDO, ADA, PI, and NEAR. Users can view details like Merkle hashes and snapshot data to verify their holdings.

Bitget CEO Gracy Chen stated that users should be able to verify their assets themselves instead of simply trusting the company. The platform has used PoR for nearly four years and has expanded it from four assets to more than 20 as users hold a wider range of cryptocurrencies.

The company's latest report showed a total reserve ratio of 122%, exceeding Bitget's 1:1 reserve standard. This means that the platform held more reserves than the total user assets included in the report.