Bybit Proof-of-Reserves Report Hits $19.6 Billion Amid Expanded Coverage
Bybit has published its 40th proof-of-reserves report, providing an update on the total value of assets it covers. The headline figure stands at $19.6 billion, a significant increase from the previous report's $18.1 billion in late August.
The jump in total value comes largely from expanded coverage, with Bybit adding 10 new tokens to the report, bringing the list of covered assets to 50. Every one of these 50 tokens holds a reserve ratio at or above 100%, according to the report, which was verified by third-party auditor Hacken.
Bitcoin user assets stood at approximately 56,131 BTC, with reserves coming in at 58,722 BTC for a reserve ratio of 104%. Ethereum users held 551,869 ETH on the platform, with Bybit reporting reserves of 570,018 ETH against that figure. The ETH reserve ratio edged up to 103% from 102%.
Tether (USDT) liabilities dropped to approximately $3.59 billion, backed by roughly $3.96 billion in reserves. This works out to a 110% reserve ratio, the thickest buffer among the three headline assets.