Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has released its 32nd Proof-of-Reserves (PoR) report, reflecting asset balances as of Mar. 18, 2026. Independently verified by Hacken, the latest disclosure confirms that reserve ratios across all major tracked assets are above 100%, indicating that user liabilities continue to be fully backed by on-chain reserves.
The report reflects Bybit’s ongoing practice of publishing verifiable reserve data, enabling users to independently confirm that custodial assets are sufficiently collateralized.
USDT Reserve Ratio: 108% (User Assets: ~5.72 billion USDT | Wallet Holdings: ~6.19 billion USDT)
USDC Reserve Ratio: 104% (User Assets: ~728.4 million USDC | Wallet Holdings: ~764.3 million USDC)
BTC Reserve Ratio: 108% (User Assets: 49,365 BTC | Wallet Holdings: 53,757 BTC)
ETH Reserve Ratio: 101% (User Assets: 516,717 ETH | Wallet Holdings: 525,205 ETH)
The March snapshot shows that Bybit maintains a measurable reserve surplus across all reported assets, with the largest buffers observed in BTC and USDT holdings at 108%. This level of overcollateralization provides an additional margin above the 1:1 benchmark, which may help absorb short-term liquidity pressures.
ETH reserves, while closer to parity at 101%, still exceed total user balances, indicating full coverage with a narrower buffer. Meanwhile, stablecoin reserves (USDT and USDC) remain notably above user liabilities, reinforcing liquidity depth in commonly used trading pairs.
Overall, the distribution suggests a balanced reserve structure across both volatile assets and stablecoins, supporting operational flexibility while maintaining verifiable solvency.
As Proof-of-Reserves reporting continues to gain traction across the digital asset industry, regular disclosures backed by independent verification are becoming a key mechanism for demonstrating platform solvency. Bybit’s monthly updates contribute to this evolving standard by providing consistent, on-chain visibility into reserve composition and asset backing.
Users can access the full report and verification details via Bybit’s Proof-of-Reserves page, where reserve balances and audit attestations are updated on a recurring basis.
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