Bybit has published its 25th Proof of Reserves snapshot, taken on August 14, revealing notable shifts in user asset balances.
The update shows that Bitcoin (BTC) and Ethereum (ETH) holdings on the exchange increased, while USDT reserves experienced a decline.
According to the report, user Bitcoin holdings rose 5.61%, reaching 58,954 BTC – an increase of more than 3,100 BTC compared to the previous snapshot on July 24. Ethereum balances also grew by 6.59%, climbing to 604,131 ETH, equivalent to an additional 37,354 ETH.
In contrast, USDT reserves decreased by 4.75%, dropping to 4.85 billion USDT, a reduction of approximately 242 million USDT. Meanwhile, holdings of USDE, a stablecoin alternative, expanded sharply by 41.24%, surpassing 743 million tokens.
Bybit emphasized that its Proof of Reserve mechanism ensures transparency by verifying that user assets are fully backed on a 1:1 ratio. The exchange clarified that all trading accounts – including spot, futures, options, and unified margin – are included in the audit, along with funding accounts holding crypto balances.
Subaccount assets are also combined and reflected in the reserves, though figures may fluctuate slightly due to trading, financing, or leveraged positions.
The increase in Bitcoin and Ethereum reserves suggests stronger user accumulation and confidence in Bybit’s platform, while the decline in USDT indicates some rotation out of stablecoins. The sharp rise in USDE reflects growing adoption of alternative stablecoin solutions.
Bybit’s regular publication of Proof of Reserves has become a core part of its transparency efforts following heightened scrutiny across the crypto industry. The exchange has now issued 25 separate reports, positioning itself as one of the leading platforms promoting verifiable asset security for users.
