Bitget's 131% Reserve Ratio Shows Strong Coverage Across Multiple Assets
Bitget has released its 47th proof-of-reserves update, showing a reserve ratio of 131% across 19 asset categories. This is particularly notable for Bitcoin (BTC), Ether (ETH), Tether (USDT), and USD Coin (USDC) which all have coverage above 100%. In fact, the reserve ratios for these four assets are significantly higher than their corresponding customer balances.
The numbers are as follows: BTC has a 142% reserve ratio with about 20,500 in customer balances; ETH has a 110% reserve ratio with approximately 166,100 in customer balances; USDT has a 107% reserve ratio with around 1.181 billion in customer balances; and finally, USDC has a 154% reserve ratio with roughly 96.477 million in customer balances.
This development comes on the heels of Bitget returning to net inflows, with Ether deposits exceeding withdrawals on the third day after withdrawals reopened. During this period, about 28,900 ETH were deposited compared to around 7,266 ETH in withdrawals.