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.
MATIC