Bybit Reports 103% Reserve Ratio Amid Bitcoin Ethereum Surge

Bybit, a prominent cryptocurrency exchange, has released its 24th Proof of Reserves audit, showcasing significant changes in its asset holdings. The snapshot, published on June 19, 2025, underscores the exchange's dedication to on-chain transparency and user security, a principle championed by CEO Ben Zhou.

The audit reveals record-high holdings of Bitcoin (BTC) and Ethereum (ETH), with BTC reserves reaching 53,906 and ETH reserves at 646,987. Conversely, USDT reserves have decreased by $386 million. This shift is attributed to user withdrawals and potential market adjustments affecting USDT. The decline in USDT holdings may reflect user preferences for top cryptocurrencies over stablecoins, possibly due to ongoing regulatory scrutiny and the impact of the FTX incident on stablecoin market confidence.

The financial implications of these changes are substantial. Bybit reports a 103% reserve ratio, indicating robust over-collateralization of user deposits. This metric supports the view that Bybit is maintaining a secure financial standing amidst evolving market conditions. Experts suggest that the increased BTC and ETH reserves signal a potential shift in user investment strategies, aligning with broader industry trends where users prefer top cryptocurrencies over stablecoins due to regulatory concerns.