Bitget, a global cryptocurrency exchange, has released its latest Proof-of-Reserves (PoR) report, marking 45 consecutive months of such disclosures. The report serves as a transparency measure intended to demonstrate that the exchange holds sufficient assets to cover user balances. According to the latest figures, Bitget reports a total reserve ratio of 122%.

Proof-of-Reserves is a practice adopted by several major cryptocurrency exchanges following the collapse of FTX in 2022. The goal is to provide verifiable evidence that customer funds are held in custody and are not being misused or leveraged in ways that could jeopardize liquidity. Bitget’s report details the holdings of various digital assets, including Bitcoin, Ethereum, and Tether, comparing these holdings against the total liabilities owed to users.

While the report provides a snapshot of the exchange's solvency at a specific point in time, it is important to note that PoR reports are not equivalent to a full financial audit conducted by an independent third-party accounting firm. They verify that the assets exist on the blockchain, but they do not provide a comprehensive view of the company’s overall financial health, debt obligations, or operational expenses. Bitget continues to publish these figures monthly as part of its ongoing effort to maintain user trust in the platform's liquidity.