June 2025 – Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has published its 24th Proof-of-Reserves (PoR) report, affirming over 100% backing of all 40 in-scope customer assets as of June 19, 2025. The audit, conducted by Hacken, provides another layer of assurance as the exchange continues to prioritize transparency and accountability.
As part of its ongoing commitment to solvency verification, Bybit shares publicly auditable snapshots and regular updates, ensuring reserves are not merely assumed, but verifiable by design.
Key Highlights from the June Snapshot
- Over 100% Reserve Coverage Across All Assets: Every in-scope asset remains fully backed, with USDC leading at 143%, followed by XPR at 137%, up from 106% in May—reflecting heightened investor interest, driven in part by the recent XPR ETF.
- Ethereum Outpaces Bitcoin in Growth: ETH holdings grew by 6.09%, reaching 646,987 ETH, compared to a 1.67% increase in BTC. While BTC remains the top-held asset, ETH’s growth aligns with broader market momentum.
- Stablecoin Shifts:
- USDe holdings surged 22.8%, now totaling 545 million, with a 105% reserve ratio.
- USDT holdings dropped 7.44% (386 million), while its reserve ratio climbed from 100% to 104%.
- USDC holdings dipped 1.72% to 399 million, still maintaining the highest over-collateralization.
This update showcases a diversified and well-supported asset mix, reaffirming Bybit’s commitment to maintaining a minimum 1:1 reserve ratio—with most assets well above that benchmark.
Setting the Industry Standard for PoR
Since 2024, Proof-of-Reserves has become a cornerstone of trust in the crypto industry. Bybit has emerged as a leader in adopting and advancing transparent, verifiable PoR standards, publishing monthly audits and real-time reserve snapshots to ensure ongoing accountability.
The exchange has also demonstrated proactive transparency by issuing an ad hoc audit report following a major cybersecurity incident in February 2025, underscoring its dedication to user trust and security.
About Bybit
Founded in 2018, Bybit serves over 70 million users worldwide and stands as a global leader in cryptocurrency trading. With a strong focus on Web3 innovation, Bybit partners with top blockchain protocols to deliver robust infrastructure and seamless access to decentralized finance.
Bybit is recognized for its secure asset custody, intuitive user experience, and tools that empower both individual users and institutions. Bridging traditional finance (TradFi) and decentralized finance (DeFi), Bybit continues to shape the future of the digital asset economy.
Explore more at Bybit.com
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