BYDFi Proof-of-Reserves and User Assets Report - October
Seychelles, 2nd October 2024 – BYDFi
The global leader in cryptocurrency exchange and Web3 innovation has published its latest monthly report on Proof-of-Reserves (PoR). The update details the reserve ratios for Bitcoin (BTC), Ethereum (ETH), and USDT, demonstrating the platform’s dedication to transparency and security. The report also highlights significant growth in both user assets and platform reserves, reinforcing BYDFi’s commitment to its users.
As of October 2nd, 2024, BYDFi has achieved an extraordinary total reserve ratio exceeding 158%. The most recent reserve ratios for key assets are as follows:
- BTC: Reserve Ratio exceeding 157%.
- ETH: Reserve Ratio exceeding 171%.
- USDT: Reserve Ratio exceeding 154%.
BYDFi has seen a significant strengthening of its reserves across all major assets. This improvement highlights the platform's commitment to financial stability and user security, further establishing BYDFi as a trusted exchange in the cryptocurrency space. User assets for BTC and ETH have seen notable growth, with BTC's reserve ratio rising to 157%. Additionally, the reserve ratios for USDT have significantly improved, reaching 171%, respectively. This robust performance underscores BYDFi's commitment to maintaining strong financial backing for its users.
"BYDFi dedication to sharing monthly Proof-of-Reserves updates ensures the safety of our user assets. We are focused on creating a ‘BUIDL Your Dream Finance’ platform that prioritizes user needs while embracing innovation in cryptocurrency trading. Together, we aim to set the benchmark for trust and reliability in the industry" said Michael Hung, CMO at BYDFi
- The audit report page from Hacken.
- Important information about the security of the BYDFi platform.
About BYDFi
BYDFi is a company registered in Seychelles and was founded in 2019 to design, manage and operate a professional platform for the provision of cryptocurrency contracts and related services that are trusted by many users.
We offer cross-platform trading through our website and mobile application, providing highly liquid orders for cryptocurrency contracts for all major cryptocurrencies in the market.
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