Bitget shares Merkle Tree Proof of Reserves to enhance transparency 

Press release

Users' assets safeguarded with at least 1:1 reserve ratio
Seychelles, Dec 5, 2022 – Leading global
cryptocurrency exchange, Bitget, announces today that it is launching its Proof of Reserves Page, which will demonstrate to users that we are a full-reserve exchange, as supported by its Proof of Reserves ("PoR"), using the cryptographic-audited Merkle tree method, and that users' assets stored on the platform are safeguarded.
The Proof of Reserves page provides users with a wealth of information on the topic, including several core elements such as "Merkle Validator", the monthly snapshots presenting the balance of the reserve pools, user education on Proof of Reserves and the importance of being fully reserved, as well as how the Merkle tree supports and proves the authenticity and consistency of the data presented by Bitget. Snapshots of reserve wallets on the platform and the user's assets serve as reassuring evidence and demonstrate that their assets are held at least at a 1:1 ratio.
To further enhance transparency and ensure the accuracy of the information on the page, Bitget is also launching a new tool, "Merkle Validator", for users to perform self-audit with their own accounts. The feature allows users to verify the security of their funds in a few simple steps. Users are able to verify the status of their assets' "Merkle leaf" under the Merkle tree data structure. Bitget is also committed to carrying out regular audits of the PoRs to make sure the balances and the status of user assets within its reserves stay up-to-date.
Gracy Chen, Managing Director of Bitget, comments
,
"Bitget actively responds to the m arket concerns, and even before FTX filed for bankruptcy, on Nov 9th, we had already promised to publish our Merkle tree Proof-of-Reserves within a month's time. Today, we are proud to fulfil our promise. The release of the Proof of Reserves and the Merkle tree data equips users with updated and informational insights on the financial status of Bitget and enhanced control on their assets stored on the platform, which is echoed in our commitment of maximum transparency and top-notch protection policies for users."
"The crypto industry is under close scrutiny after the scandals and collapses of some giant crypto firms. The desire of users to invest and store assets on a secure platform has seen its high, as Bitget has witnessed an increase in users recently. With the rollout of the Proof of Reserves page, Bitget not only demonstrates well-rounded protection for users, but also will continue to advocate more initiatives aiming to offer safe adoption of
cryptocurrency worldwide and a sustainable and trustworthy environment in the crypto universe," adds Gracy.
Aside from the POR release, Bitget has launched various initiatives to help rebuild the
market’s confidence, such as launching the USD 5 million Builders Fund for users affected by the FTX incident, increasing the Protection Fund to USD 300 million, and most recently, investing 20 million in a series of campaigns with Lionel Messi.
What is Proof of Reserves?
Proof of Reserves refers to an auditing procedure that is verifiable through cryptographic proofs, checks of public wallet ownership, and recurring audits to certify the holdings of an exchange. The custodian provides transparency and proof of the existence of on-chain reserves and that the total amounts of those coins held and effectively at the disposal of the platform exceeds or is equal to the sum of all users' holdings of those coins.
To achieve this, Bitget stores the hash of each user's account assets in a leaf node on the Merkle tree. Each user can verify that their funds are included in the Merkle tree by checking the total amount of users' assets stored in the Merkle tree leaf nodes. The open source code of the platform's proof of its 100% solvency program has also been published to GitHub.
About Bitget
Bitget, established in 2018, is the world’s top five leading cryptocurrency exchange with innovative products and socia l trading services as its key features, currently serving over 8 million users in more than 100 countries around the world.
The exchange is committed to providing one-stop and secure trading solutions to users and aims to increase crypto adoption by collaborations with creditable partners, including Argentinian legendary footballer Lionel
Messi, Italian leading football team Juventus, PGL Major’s official esports crypto partner, and the leading esports organization Team Spirit.
For media queries, please contact:
sylvia.huang.yq@bitget.com
How to sell PIBitget lists PI – Buy or sell PI quickly on Bitget!
Trade nowRecommended
- Press releaseBitget Protection Fund Reaches Record High of $779.7M in July 2025, Reinforcing Commitment to User Asset Safety Victoria, Seychelles, August 7, 2025 — Bitget, the leading cryptocurrency exchange and Web3 company, today released its July 2025 Protection Fund Report, revealing a new peak in valuation and underlining its steadfast commitment to safeguarding user assets. As of July 22, the Protection Fund hit an all-time high of $779.7 million, reflecting strong capital backing during a period of elevated market activity. The fund’s daily valuation ranged from a low of $686.5 million on July 1 to the peak mi
2025-08-07
- Press releaseBitget and Pulsar Sync Signals to Power LiquidityVictoria, Seychelles, August 7th, 2025 — Bitget, the leading cryptocurrency exchange and Web3 company, has announced a strategic partnership with Pulsar, a veteran high-frequency trading and market-making firm, to enhance liquidity across its spot and derivatives markets. With deep roots in algorithmic trading and over a decade of experience, Pulsar provides liquidity across multiple exchanges and is known for its precision, stability and scale. Through this collaboration, Pulsar will bring its
2025-08-07
- Press releaseBitget Enables Instant Deposits for Visa and Mastercard Victoria, Seychelles, August 7th , 2025 – Bitget, the leading cryptocurrency exchange and Web3 company, has officially released a conversion payout feature that allows users to instantly convert crypto assets such as Bitcoin (BTC) and Ethereum (ETH) into fiat and deposit the funds directly to their Visa or Mastercard. This rollout significantly reduces the time and complexity typically associated with off-ramping, offering a faster and more secure alternative to bank transfers a
2025-08-07
We offer all of your favorite coins!
Buy, hold, and sell popular cryptocurrencies such as BTC, ETH, SOL, DOGE, SHIB, PEPE, the list goes on. Register and trade to receive a 6200 USDT new user gift package!
Trade nowHow to sell PIBitget lists PI – Buy or sell PI quickly on Bitget!
Trade now