Bybit Reports Decline in BTC and ETH Holdings in Latest Proof of Reserves

The crypto exchange’s 29th Proof of Reserves shows a drop in user Bitcoin and Ethereum balances compared to November figures.

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Terms & Concepts
  • Proof of Reserves: A process by which a cryptocurrency exchange verifies and discloses its holdings to prove it has sufficient assets to cover user balances.
  • BTC: Ticker symbol for Bitcoin, the first and largest cryptocurrency by market capitalization.
  • ETH: Ticker symbol for Ethereum, a leading blockchain platform known for smart contracts and decentralized applications.