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Bitget reserves top $1.44B, claims to be debt free

Published 07/13/2023, 09:00 AM
Updated 07/13/2023, 11:00 AM

Cryptocurrency exchange Bitget says its total proof-of-reserves ratio has reached 223%. In a July 13 announcement, Bitget revealed that its total reserve currently stands at $1.44 billion spread across 31 different crypto assets. Reserve ratios for Bitcoin (BTC), Tether (USDT), Ether (ETH), and USD Coin (USDC) stand at 454%, 135%, 171% and 2,604%, respectively.

In an interview, Bitget executives told Cointelegraph that the exchange “operates without relying on debt or users’ funds for its transactions or investments,” and that the company is “proud to be debt free.“ The firm wrote:

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