Crypto
Bitget Posts 131% Reserve Ratio After $388 Million Security Incident
Cryptocurrency exchange Bitget reported a 131% reserve ratio across 19 major digital assets in its latest Proof of Reserves update, released on September 30. This comes after a $388 million security incident on September 24.
The snapshot shows all 19 covered cryptocurrencies maintained reserve ratios exceeding the required 100% benchmark. Bitget holds 29,099.61 Bitcoin against 20,531.72 BTC in user assets, representing a 142% reserve ratio.
Tether reserves stand at 107%, with $1.26 billion in platform assets backing $1.18 billion in user deposits. Ethereum reserves were recorded at 110%, while USD Coin reserves reached 154%. The lowest reserve ratio among covered tokens was BNB at 104%.