Bybit Says $17.3B Proof of Reserves Covers 50 Assets, but the Audit Has Limits
Summary
Bybit’s 41st proof-of-reserves report covered $17.3 billion in customer assets across 50 cryptocurrencies, using an October 27 snapshot independently checked by Hacken. Bybit reported reserve ratios above 100% for every covered asset, including 102% for Bitcoin and 101% for Ether. The figures show reserves against customer balances at a specific time, not comprehensive corporate solvency or protection from all liabilities and operational risks. The report’s value depends on its methodology and scope; customers and analysts should review these limits and compare disclosures over time.
