Bybit Expands Proof-of-Reserves Coverage to 50 Tokens

Bybit, the world's second-largest cryptocurrency exchange by trading volume, has expanded its Proof-of-Reserves (PoR) coverage to include 10 new tokens. This move brings the total number of covered tokens to 50 and is part of Bybit's ongoing efforts to increase transparency across its platform.

The newly added tokens are GRAM, XAUT, HYPE, STABLE, ENA, ARB, ASTER, ONDO, AAVE, and USD1. Bybit prioritizes tokens with the highest assets under management (AUM) when determining the scope of its PoR disclosures, ensuring that users have a clear understanding of their asset holdings.

The latest report, which covers the 50 highest-AUM tokens on the platform, shows that reserve ratios for key assets such as USDT, USDC, BTC, and ETH all exceeded 100%. This indicates that user liabilities were fully backed by on-chain holdings, providing an independently verified snapshot of Bybit's asset custody and solvency position.

The report also highlights the importance of PoR in the digital asset industry, which has become increasingly crucial as institutional and retail participation continues to expand. Bybit's commitment to transparency is evident in its ongoing efforts to provide users with accurate and reliable information about their assets.