Bybit has released its 24th Proof of Reserves report, highlighting significant changes in asset holdings since the last report.
Snapshot Overview
In Bybit's 24th Proof of Reserves report, released on June 19, 2025, record reserves of BTC (53,906) and ETH (646,987) were observed, while USDT reserves decreased by $386 million. This report reflects the exchange's commitment to on-chain transparency and user security, as stated by CEO Ben Zhou.
> "Bybit’s proof of reserves reflects a commitment to on-chain transparency and user security." – CITE_W_A.
Financial Impact
The report indicates a reserve ratio of 103%, suggesting strong over-collateralization of user deposits. This supports Bybit's stable financial position amidst evolving market conditions. The increase in BTC and ETH reserves may signal potential shifts in user investment strategies.
Trend Analysis
Analysts link the decrease in USDT reserves to user withdrawals and potential market adjustments. This could be driven by increasing regulatory uncertainties, leading users to favor BTC and ETH over stablecoins like USDT. This trend reflects movements observed post-FTX incident, affecting trust in stablecoins.
The updated report of Bybit's Proof of Reserves reinforces its stable market position and changing user behavior toward more trustworthy cryptocurrencies. This aligns with growing regulatory concerns.
