Bybit Reserves Shift Toward Bitcoin and Ether as USDT Holdings Dip

The latest snapshot, taken at 03:00 UTC on Sept. 23, confirms that total mainstream assets under management have climbed to $19.6 billion, up from $18.1 billion in the previous report. Bybit currently reports 56,131 BTC in user assets, maintaining a reserve ratio of 104% against wallet holdings. Ethereum balances reached 551,868 ETH, with the exchange holding 570,018 ETH in reserve, pushing the ratio to 103%.

While Bitcoin and Ether saw gains, USDT holdings dropped to $3.59 billion. Despite this decrease, Bybit reports a 110% reserve ratio for the stablecoin, holding roughly 3.96 billion USDT in its wallets. The exchange has expanded its transparency reporting to 50 tokens, with new assets like SUI and PUMP joining the disclosure list. Independent auditor Hacken continues to verify these figures, which utilize a Merkle-tree system to allow users to cross-reference their individual balances against the platform's total liabilities.