crypto News Bybit revealed the volume of user assets

Bybit revealed the volume of user assets

Bybit disclosed the volume of user assets

Bitcoin exchange Bybit has disclosed the amount of major assets in users’ wallets – it amounted to about $1.9 billion. The service is implemented in partnership with analytics company Nansen.

“We are exploring new storage solutions that will allow you to view your own balance online or in third-party storage. Bybit guarantees 1:1 reserves for all users, and we have made sure that during the current non-standard period, all withdrawals are processed in a timely manner,” commented Bybit CEO Ben Zhou.

According to the data, users prefer to hold assets on the platform in USDT and UDTC stabelcoins – 38.8% and 16.8% of the total value, respectively. Bitcoin accounts for 19.3%.

“We believe in transparency, as evidenced by one of the key initiatives – Bybit’s contribution to BitDAO coffers (~$800 million),” Zhao emphasized.

In the wake of the FTX crash, exchanges have begun to publish information about reserves. The openness policy was initiated by Binance, followed by Huobi, Bitfinex and other platforms.

Recall, Binance CEO Changpeng Zhao and former MicroStrategy CEO Michael Saylor called for self-storage of cryptoassets.

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