Phemex August PoR Report Confirms Reserves Exceed Customer Balances Across All Assets

Phemex has released its August Proof of Reserves (PoR) report, confirming that all eight assets covered by the latest snapshot have reserves above reported customer balances. The exchange's average reserve ratio stands at 138.39%, with every included asset remaining above the 100% full-backing threshold.

The major assets covered by the report include BTC, ETH, USD*, and SOL, each with a reserve ratio exceeding 100%. Phemex CEO Federico Variola commented on the importance of transparency and platform accountability, stating that 'Proof of Reserves is most valuable when users can independently review the figures and verify that their own balances have been included through our Merkle tree-based verification system.'

The August report is part of Phemex's ongoing Proof of Reserves program, which regularly publishes reserve information and makes relevant wallet holdings available for public review. This disclosure complements Phemex's wider security framework, including custody protections, operational controls, and systems designed to support reliable access to customer assets.