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Prominent crypto derivatives exchange Bybit based in Dubai has released its 10th reserve certificate, issuing it for May 2024 (the time stamp on the wallets was for 4.00 a.m. UTC on that day).
This information was shared by Chinese cryptocurrency journalist and blogger Colin Wu on his official X account.
Bybit publishes proof-of-reserves report: $SHIB, $XRP, $DOGE, etc.
This reserve certificate was published as part of the “proof-of-reserves” initiative implemented by centralized crypto exchanges after the FTX platform crashed in November 2021, pushing the Bitcoin price way down, along with the rest of the cryptocurrency market.
According to this report, Bybit currently holds 45,000 $BTC; 317,434 $ETH and 2,669,466,361 $USDT. The Bitcoin reserves have seen a substantial increase by 580 $BTC compared to April. The Ethereum stash held on the platform has dropped by 8.57% (the equivalent of 29,700 $ETH). As for $USDT, this crypto stash has increased by 13.32% - that is an additional 313 million dollar-backed stablecoins. Those are assets that Bybit holds on behalf of its users, not counting coins belonging to the exchange itself.
Bybit releases its tenth reserve certificate (May 8). Users’ $BTC assets increased by 580 $BTC compared with the last time (April 3); users’ $ETH assets decreased by 8.57%, a decrease of 29,700 $ETH; users’ $USDT assets increased by 13.32%, with an increase of 313 million $USDT.… pic.twitter.com/UiwN6rsNCM
— Wu Blockchain (@WuBlockchain) May 10, 2024
Among the number of other cryptos, the report reveals the sizes of the stashes of popular Ripple-affiliated altcoin $XRP and the several largest meme cryptocurrencies: Dogecoin ($DOGE), Pepe ($PEPE) and Shiba Inu ($SHIB).
As of May 4, Bybit wallets contained a total of 961,148,036 $DOGE; 2,674,060,230,829 $SHIB and 14,410,570,778,802 $PEPE. As for $XRP, its stash on the platform constitutes 342,596,582 $XRP. All of these are user funds held by Bybit.