Phemex, a cryptocurrency exchange, has published its April 2026 Proof of Reserves (PoR) report, revealing a total reserve ratio of 131% across major assets. The report, released on April 2, 2026, confirms that all user balances are fully backed, with the exchange maintaining overcollateralized reserves for key cryptocurrencies.
The detailed reserve ratios for specific assets are: Bitcoin (BTC) at 133.11%, Ethereum (ETH) at 141.61%, Tether (USDT) at 103.61%, and Solana (SOL) at 155.62%. All reported assets exceed the 100% threshold, indicating user liabilities are fully covered and assets remain accessible.
The exchange utilizes a Merkle tree-based verification model for its Proof of Reserves. This cryptographic approach allows users to independently confirm their balances are included in the platform's total liabilities without exposing individual account data, thereby preserving privacy while ensuring transparency.
Federico Variola, CEO of Phemex, emphasized the company's commitment, stating: "Being user-first, in practice, means giving users clear visibility into how their assets are held and managed. Publishing Proof of Reserves on a consistent basis is part of that approach, ensuring transparency is built into the system rather than treated as a one-time check."
Phemex, founded in 2019 and serving over 10 million traders globally, releases these reports on a recurring monthly basis. The practice is part of its broader strategy to provide verifiable insights into platform solvency and support greater accountability in the digital asset ecosystem. The exchange also continues to invest in infrastructure and system stability to ensure seamless trading and fund access for its users.
