Bybit Solidifies Transparency Leadership with Unprecedented Proof-of-Reserves Audit

Bybit, a leading crypto exchange, solidifies its position as an industry leader in transparency and security with a groundbreaking proof-of-reserves audit, verifying 40 crypto tokens, including WLD, AGI, APEX, and BEAM, among others. The audit confirms that all verified tokens are fully backed up to 150%, showcasing Bybit's commitment to robustness and user trust.

Bybit Solidifies Leadership in Transparency with Unprecedented Proof-of-Reserves Audit

Singapore, March 14, 2023 - Bybit, the world's third-largest crypto exchange by trading volume, has reached another milestone in its pursuit of unparalleled transparency and security within the crypto industry. By announcing a groundbreaking proof-of-reserves audit, Bybit has further cemented its position as a beacon of trustworthiness in the digital asset market.

This comprehensive audit meticulously verifies the existence and control of a total of 40 crypto tokens held by Bybit, making it the undisputed industry leader in terms of audited assets. The scope of the audit encompasses a diverse range of popular cryptocurrencies, including newly added tokens such as WLD, AGI, APEX, BEAM, FET, GALA, IMX, RNDR, and SHRAP.

Bybit's commitment to transparency extends beyond mere compliance, reflecting a deeper ethos of accountability and user-centricity. The comprehensive verification of 40 crypto tokens, including newly added assets, demonstrates the exchange's meticulous attention to detail and its proactive approach to ensuring the safety and integrity of user funds.

In addition to the core verification of token reserves, Bybit's proof-of-reserves audit also vouches for the exchange's robust security infrastructure. Bybit employs a sophisticated wallet system, comprising cold, warm, and hot wallets, to ensure optimal security while maintaining the liquidity required for seamless user transactions. The exchange's strategic partnerships with institutional custodians Fireblocks and Copper further reinforce its robust security posture, setting Bybit apart as a market leader in safety and transparency for both retail and institutional clients.

Bybit's unwavering commitment to transparency has earned it an impeccable 10/10 Trust Score by CoinGecko and an 'AA' rating in the recent CCData Crypto Exchange Benchmark Report. These accolades serve as a testament to Bybit's adherence to industry best practices and its consistent dedication to building trust with its global user base.

Ben Zhou, co-founder and CEO of Bybit, expressed the company's resolute stance on transparency: "Our unwavering commitment to verifying our reserves is a testament to our belief in building trust through evidence. For us, providing such proof of reserves is not just a practice but a necessity. It assures our users that their investments are in safe hands, managed with the highest standards in the industry."

Bybit's mission to maintain the highest standards of integrity has seen the exchange quickly rise to prominence, becoming one of the world's top three crypto exchanges by trading volume in just five years of operation. The platform offers a professional trading experience, featuring an ultra-fast matching engine, round-the-clock customer service, and multilingual community support. Bybit is also proud to be the official partner of Formula One's reigning Constructors' and Drivers' champions, the Oracle Red Bull Racing team.

With its latest proof-of-reserves audit, Bybit continues to set new benchmarks and raise the bar for transparency and security within the crypto industry. This significant milestone not only underscores Bybit's unwavering dedication to maintaining the highest standards of integrity but also reaffirms its position as a trusted and reliable platform for crypto investors and traders alike.