- As of September 23, Bybit’s most recent proof-of-reserves report reveals $19.6 billion in mainstream assets spread across 50 tokens.
- Bybit reported a reserve ratio of 104%, while Bitcoin user holdings increased by 0.24% to 56,131 BTC.
- The reserve ratio hit 103%, and Ethereum holdings rose 2.96% to 551,868 ETH. The largest loss among significant assets was seen in USDT user balances, which fell 11.46% to roughly 3.59 billion USDT.
Bybit has published its 40th proof-of-reserves report, showing $19.6 billion in mainstream assets based on a snapshot taken at 03:00 UTC on Sept. 23. The report was independently reviewed by Hacken and covers 50 tokens held by users on the exchange.
Bybit Releases 40th Proof-of-Reserves Report
Bybit released its 40th proof-of-reserves report based on a Sept. 23 snapshot. User holdings stood at about 56,100 BTC, up 0.24% from Aug. 26, and 551,900 ETH, up 2.96%. USDT holdings fell 11.46% to about 3.59 billion, while USDe… pic.twitter.com/FFpOhn024g
— Wu Blockchain (@WuBlockchain) October 1, 2026
Bitcoin user balances reached 56,131 BTC, compared with 58,721 BTC held in Bybit wallets, resulting in a 104% reserve ratio. Ethereum user holdings stood at 551,868 ETH against 570,018 ETH in wallet assets, giving the asset a 103% reserve ratio.
Bybit said all 50 tokens included in the latest disclosure had reserves equal to or greater than user liabilities.
Bitcoin & Ethereum Holdings Rise On Bybit
Ethereum holdings jumped 2.96% to around 551,900 ETH, while Bitcoin user balances up 0.24% from the August 26 snapshot. The most recent Bitcoin statistic is more than 6,800 BTC higher than the 49,309 BTC recorded in June.
However, proof-of-reserves data does not explain why user balances changed. Higher balances could reflect purchases, transfers into the exchange or other customer activity.
USDT Holdings Drop 11.46%
USDT recorded the largest decline among the major assets covered in the latest report. User holdings fell 11.46% to approximately 3.59 billion USDT.
Bybit reported around 3.96 billion USDT in wallet holdings, giving the stablecoin a 110% reserve ratio. The figure compares with a 105% ratio reported in July.
The decline does not establish where the USDT went or whether users moved funds into Bitcoin, Ethereum or other assets.
USDe moved in the opposite direction, with user balances increasing 62.41% to roughly 516 million tokens. Meanwhile, Bybit reported a 223% reserve ratio for USDC, with about $748.3 million in wallet holdings against $334.8 million in user assets.
Bybit Tracks 50 Tokens In Latest Reserves Report
The September disclosure covers Bybit’s 50 highest-AUM tokens. Ten assets, including SUI, PUMP, LIT, CAP, SPX, ZEREBRO, XPL, USDTB, PENGU and ZRO, entered the current reporting set. XPL recorded the highest reserve ratio among these assets at 125%, followed by LIT at 121%.
Bybit had already expanded its proof-of-reserves reporting to 50 tokens in July, meaning the September changes represent a new group of assets rather than a simple expansion from 40 to 50 tokens.
Users Can Verify Their Bybit Balances
Bybit allows users to verify whether their balances were included in the proof-of-reserves snapshot through a Merkle-tree system.
The exchange also publishes wallet information that allows users to independently examine supported reserve addresses and balances.
Proof of reserves provides a point-in-time view of covered customer liabilities and reserve assets. It is not a full financial audit and does not assess every corporate asset, liability or obligation outside the disclosed scope.
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