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Bybit joins trend, releases Merkle Tree-verified proof of reserves

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Bybit joins the ranks of exchanges releasing their proof of reserves after FTX rattled the industry.

On Dec. 12, it announced that it has launched aproof-of-reserve system. The new transparency initiative allows its users to directly verify Bybit’s holdings, along with their personal assets deposited into the exchange.

Additionally, the new feature enables verification of Bybit’s wallet ownership, that assets are held with a 1:1 ratio.

 

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Bybit_Official Great news! Transparency is key to success in DeFi. Merkle Tree-based proof-of-reserve is a great step forward in making crypto accessible to everyone. BybitLeadingTheWay CryptoRevolution

Bybit_Official Congratulations Bybit_Official.

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