Bybit, the world's second-largest cryptocurrency exchange by trading volume, has released its 27th Proof-of-Reserves (PoR) report, verified by Hacken, with data accurate as of October 22, 2025. The report confirms that Bybit maintains a reserve ratio of over 100% for all key assets, demonstrating robust financial health and a steadfast dedication to protecting user funds.
Key highlights from the snapshot include a 110% reserve ratio for USDT, with user assets at 5.8 billion USDT and wallet balance at 6.38 billion USDT; 153% for USDC, with 599 million USDC in user assets and 920 million in wallet balance; 103% for BTC, with 61,976 BTC in user assets and 63,980 BTC in wallet balance; and 101% for ETH, with 532,000 ETH in user assets and 542,000 ETH in wallet balance.
Notably, user holdings of Bitcoin decreased by 3.13% from the previous September snapshot, falling from 66,048 BTC to 63,980 BTC, while Ethereum holdings dropped by 5% from 570,714 ETH to 542,165 ETH. In contrast, USDT balances surged by 27.89% to approximately 6.389 billion tokens. Ethena's USDE stablecoin saw a significant decline of 42.37%, from 871.26 million to 502.11 million tokens.
Bybit's consistent overcollateralization, with reserve ratios exceeding 100%, ensures that all user funds are fully backed and available for withdrawal, reinforcing trust in the platform. The exchange updates its reserve snapshots regularly, with independent verification reports published monthly.
