Bybit’s October Proof of Reserves Shows Decline in BTC and ETH Holdings

The exchange’s 27th reserve snapshot reveals reduced user balances, with both Bitcoin and Ethereum holdings down compared to September figures.

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Terms & Concepts
  • Proof of Reserves: A periodic audit by a cryptocurrency exchange proving it holds sufficient assets to cover all customer balances.
  • BTC: Abbreviation for Bitcoin, the world’s first and largest cryptocurrency by market capitalization.
  • ETH: Abbreviation for Ethereum, a leading blockchain platform known for smart contracts and decentralized applications.