You are here: Home » 0 » » Archives for 0st

Bitget Proof-of-Reserves August: Increase in Reserve Ratio and Users' Asset in Ethereum (ETH)

VICTORIA, Seychelles, Aug. 29, 2024 (GLOBE NEWSWIRE) — Bitget, the world's leading cryptocurrency exchange and Web3 company, has shared its monthly update for the transparent tracking of its proof–of–reserves (PoR) highlighting the reserve ratios of Bitcoin (BTC), Ethereum (ETH), USDT and USDC. This update shows the platform's commitment to transparency and security, highlighting significant growth in both user assets and platform reserves.

In August 2024, Bitget's Proof–of–Reserves data showed a significant positive shift, with users' ETH assets increasing by 22%, marking the highest growth rate for ETH this year. BTC assets continued their upward trend with a 6% increase, while USDC saw a robust performance earlier in the period, highlighting user confidence in these key assets.
As of August 2024, Bitget's total reserve ratio stands at an impressive 176% and an increase of 9% from July's 167%. The latest reserve ratios for key assets are as follows:

  • BTC: Platform asset 18,905.85 BTC, Users' assets 6,492.53 BTC, Reserve Ratio 291%
  • USDT: Platform asset 1,041,659,177.52 USDT, Users' assets 858,766,618.14 USDT, Reserve Ratio 121%
  • ETH: Platform asset 123,686.9 ETH, Users' assets 81,625.78 ETH, Reserve Ratio 152%
  • USDC: Platform asset 77,244,895.83 USDC, Users' assets 13,633,360.87 USDC, Reserve Ratio 567%

In August, Bitget's reserves strengthened across all major assets. BTC and ETH user assets grew, with BTC's reserve ratio rising to 291%. USDT and USDC reserve ratios improved significantly to 121% and 567%, respectively.
“Bitget’s strength and leadership in the Web3 space is anchored in providing the highest standards of security and transparency. Our focus on sharing clear proof–of–reserves updates every month guarantees the safety of our user assets. We remain dedicated to setting the benchmark for trust and reliability for CEXs and will continue to maintain this as a part of our user asset security,” said Gracy Chen, CEO at Bitget.

From January to August 2024, Bitget has observed substantial growth in user assets across all major cryptocurrencies. ETH has led the way with an impressive 200.88% increase, reflecting heightened user interest and confidence in the asset. BTC assets also saw a robust growth of 96.55%, nearly doubling over the eight–month period. USDT followed closely with a 69.89% increase, showing strong and steady user accumulation. Meanwhile, USDC assets grew by 30.17%, indicating consistent, though more modest, user engagement. Overall, this period highlights significant and diversified growth in user assets on Bitget.

The updated PoR showcases Bitget's efforts in maintaining more than industry standard 100% reserves, which effectively guarantees that users' assets are safe. The platform is capable of covering user withdrawals, even if all user assets are withdrawn.
In addition to maintaining a higher than industry standard PoR, Bitget insures its users further with a $300M Protection Fund, now valued over $400 million according to its latest protection fund report. This gives the platform an extra layer of resilience against cybersecurity threats. Users who have their accounts compromised in unfortunate incidents not attributed to their own actions or trading behavior can make a claim through the Bitget Protection Fund.

For real–time PoR tracking, please visit – https://www.bitget.com/proof–of–reserves

About Bitget

Established in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company. Serving over 25 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world–class multi–chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team).
For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
For media inquiries, please contact: media@bitget.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/90ab6fe4–5cb6–436c–a969–6affce93009a


GLOBENEWSWIRE (Distribution ID 1000988971)

Hisense Unveils Official Sponsorship of Real Madrid

JOHANNESBURG, Aug. 29, 2024 (GLOBE NEWSWIRE) — Hisense, the global leader in consumer electronics and home appliances proudly announced its official sponsorship of Real Madrid, one of the most prestigious football clubs in the world. This landmark event took place at Ciudad Deportiva Real Madrid and featured the esteemed presence of Jerry Liu, Vice President of Hisense International, and Emilio Butragueño, Director of Institutional Relations at Real Madrid.

The comprehensive three–year regional sponsorship, will encompass Spain, Africa and the Middle East. It will prominently display the Hisense brand and its innovative product line to 80,000 fans at the iconic Santiago Bernabéu Stadium in Madrid. Audiences around the globe will experience this partnership through broadcast, digital and social channels platforms. To mark the partnership and their shared vision of innovation and excellence, Hisense and Real Madrid will jointly launch a limited–edition co–branded 100–inch TV. This state of the art television promises to revolutionize the home viewing experience with unparalleled picture quality and immersive sound, bringing fans closer to the action than ever before.

During the sponsorship launch in Johannesburg attended by media representatives and soccer legends such as Lucky Lekgwathe, Portia Modise and Hlompo Kekana, Ms Luna Nortje, General Manager of Hisense South Africa, remarked, “Hisense has established a strong presence in the world of sports. Our global sports sponsorships underscore our commitment to excellence and bringing people together. We are immensely honored to sponsor Real Madrid. This partnership not only emphasizes our commitment to innovation but also our commitment to fostering the spirit of unity and competitive excellence.”

Building on its successful sponsorships of the UEFA European Championships and the FIFA World Cup, Hisense aims to captivate audiences with this new partnership. Designed for sports enthusiasts and technology aficionados alike, the groundbreaking 100–inch TV and other signature appliances such as laundry systems, refrigerators, and air conditioners will soon be available at selected stores in South Africa. Fans can look forward to the release details and pricing.

Ms. Nortje concludes, “Hisense remains steadfast in its commitment to technological innovation. We are devoted to developing products that elevate both our consumers' homes and their overall experiences.”


GLOBENEWSWIRE (Distribution ID 1000988970)