Toobit Exceeds Trader Balances with Major Assets in September Proof of Reserves

Toobit, an award-winning global cryptocurrency exchange, has released its September Proof of Reserves (PoR) snapshot. The data shows that major assets held on the platform exceed trader balances with at least a 1:1 backing ratio.

The snapshot recorded Bitcoin (BTC) at 104%, Ethereum (ETH) at 102%, USDT at 106%, and USDC at 105%. This means that for every dollar or unit of each asset held by traders, Toobit has at least one dollar's worth in reserve.

Toobit regularly publishes PoR snapshots to provide greater transparency into its assets. Through Merkle-tree verification, traders can independently verify their balances and ensure the exchange is holding the promised amount.