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“Proof of Reserves” program implemented by centralized cryptocurrency exchanges!
The reserve certificate was issued as part of the “Proof of Reserves” program implemented by centralized cryptocurrency exchanges after the collapse of the FTX platform in November 2021, which led to a sharp drop in the price of Bitcoin and other prices in the cryptocurrency market.
According to reports, Bybit currently holds 45,000 BTC; 317,434 ETH and 2,669,466,361 USDT. Bitcoin reserves increased significantly by 580BTC from April. Ethereum reserves held on the platform decreased by 8.57% (equivalent to 29,700 ETH). As for USDT, this cryptocurrency reserve increased by 13.32%, that is, an additional $313 million in stablecoins backed. Among the numbers of other cryptocurrencies, the report reveals the size of the stash of popular Ripple-affiliated altcoin XRP and several of the largest meme cryptocurrencies: Dogecoin DOGEUSD, Pepe PEPEUSDT and Shiba Inu
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