The crypto exchange said its latest reserve report confirms 100% transparency and shows holdings exceeding customer balances for several major assets.
Bybit released its 35th Proof of Reserves report, stating that customer assets are backed on a 1:1 basis and that reserve levels exceed user holdings in several major tokens. Proof of reserves is a transparency method used by crypto exchanges to show they hold enough on-chain assets to match customer liabilities, an issue that became more important across the industry after major exchange failures heightened scrutiny of custodial risk. The update indicates Bybit is continuing regular reserve attestations as part of its public transparency efforts.