Bitget updates May asset proof, comprehensive reserve ratio 217%

ChainCatcher news, Bitget announced the completion of the May Merkle tree asset proof update to demonstrate that the platform has over 100% reserves.

As of May 6, Bitget's overall reserve ratio is 217%, with reserve ratios for BTC, USDT, ETH, and USDC being 499%, 134%, 173%, and 2723%, respectively.

In December 2022, Bitget launched the reserve proof page. The reserve proof data is updated monthly to ensure that customer funds have at least a 1:1 reserve ratio. Additionally, users can verify the platform's assets using the open-source tool "Merklevalidator" available on GitHub. (source link)