Bitget Hits 122% Reserve Ratio as Protection Fund Tops $380M
Bitget, a cryptocurrency exchange, has released its August 2026 Proof of Reserves (PoR) report, showing a total reserve ratio of 122%. This marks the platform's 45th consecutive monthly disclosure since it started publishing such reports in December 2022. The exchange also separately publishes monthly valuations of its Protection Fund, which averaged $382 million during August.
The Protection Fund's value ranged from approximately $345.3 million on August 1 to $441.5 million on August 27. This fund consists of 5,500 BTC and its dollar valuation changes alongside Bitcoin's market price.
Bitget established the Protection Fund in 2022 with an initial commitment of $300 million. Its reported valuation remained above that threshold throughout August.
The exchange uses a Merkle-tree system for its PoR process, allowing individual customers to verify whether their assets were included in a particular snapshot without revealing other users' account information.