Bybit’s Latest Audit Report
Bybit, the cryptocurrency trading platform, has released its latest audit on the state of its assets, signaling robust financial health as of December 17, 2025. This report marks the 29th instance of their Proof of Reserves (PoR), conducted by the cybersecurity firm Hacken.
Key Findings
The findings indicate that Bybit boasts reserve ratios exceeding 100% across all major cryptocurrencies, ensuring that user liabilities are entirely covered with liquid assets held by the exchange itself.
- Tether (USDT): Reserve ratio at 102% with user assets totaling 5.9 billion USDT and Bybit’s wallets containing approximately 6.1 billion USDT.
- USD Coin (USDC): Reserve ratio of 112%; Bybit holds 658.4 million USDC against user liabilities of 583.5 million USDC.
- Bitcoin (BTC): Reserves have surpassed the critical 1:1 level, with user holdings of 59,711 BTC backed by 63,206 BTC held in the exchange’s wallets, resulting in a healthy 105% reserve ratio.
- Ethereum (ETH): Users have liabilities of 528,519 ETH, while Bybit wallets hold 536,845 ETH, yielding a reserve of 101%.
Commitment to Transparency
Bybit has articulated that maintaining reserves beyond the fully collateralized requirement serves as a liquidity buffer, ensuring that funds are readily accessible even under changing market dynamics. The exchange has prioritized transparency, encouraging clients to independently verify asset existence in relation to their obligations instead of merely relying on solvency claims.
The Future of Proof of Reserves
As the concept of Proof of Reserves gains traction across the cryptocurrency landscape, Bybit emphasizes that centralized exchanges like theirs are integral to upholding transparency standards within the industry. In previous statements, Bybit’s CEO, Ben Zhou, has shared insights regarding expectations for market evolution and developments anticipated for 2026.
