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DUBAI, United Arab Emirates, April 8, 2024 /PRNewswire/ -- Bybit, which stands as the world's third largest crypto exchange by trading volume, once again demonstrates its commitment to transparency and security by expanding its proof of reserves, now verifying a total of 40 crypto tokens, marking the highest in the industry.
In this latest step, Bybit reveals that each of the 40 cryptocurrencies, including newly added coins such as WLD, AGI, APEX, BEAM, FET, GALA, IMX, RNDR, and SHRAP, are fully backed up to 150%. This places Bybit as an industry leader, surpassing the total number of assets audited by the competition.
Bybit's relentless pursuit of openness is widely recognized, reflected in its impeccable 10/10 trust score by CoinGecko and an 'AA' rating in CCData Crypto Exchange's recent benchmark report. These recognitions highlight Bybit as a crypto exchange that applies industry best practices.
“Our strong commitment to verifying our reserves is a testament to our belief in building trust through evidence,” said Ben Zhou, co-founder and CEO of Bybit. "For us, providing such proof of reserves is not just a practice but a necessity. It assures our users that their investments are in good hands and managed to the highest industry standards."
Bybit employs a meticulous wallet system, including cold, warm, and hot wallets, to optimize security while maintaining the liquidity needed for user transactions. This robust security infrastructure, reinforced by partnerships with institutional custodians Fireblocks and Copper, ensures Bybit's leadership in the cryptocurrency exchange market, offering security and transparency to retail and institutional clients.
About Bybit
Bybit is one of the world's top three crypto exchanges by trading volume with 25 million users. Established in 2018, it offers a professional platform where cryptocurrency investors and traders can find a lightning-fast matchmaking engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of the reigning Formula One constructor and driver champions: the Oracle Red Bull Racing team.
For more information on Bybit, visit Bybit Press.For media inquiries, contact: media@bybit.com For more information, visit: https://www.bybit.com For updates, follow: Bybit's Communities and Social Media
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